New York (Platts)--14Apr2009

NYMEX May crude futures opened 6 cents lower at $49.99/barrel Tuesday
with another downward revision to demand growth by the US Energy Information
Administration and weak US retail sales.

Total global oil demand will drop by 1.35 million b/d to 84.09 million
b/d this year, a downward revision of 180,000 b/d, the US Energy Information
Administration said Tuesday in its April Short-Term Energy Outlook.

US retail sales for March were reported down 1.1% by the Department of
Commerce and over the past 12 months were down 9.4%. Poor retail sales sent
equity futures lower, signaling a lower open to US stock markets. Excluding
autos, March retail sales declined 0.9% from the prior month and fell 6.0%
from the prior year.

"The market has already factored in the initial 'green shoots' of hope
that US economy may begin to gain some traction in coming months.
Additionally, some of details of retail sales and inventory data are already
known," foreign exchange strategists at Brown Brothers Harriman said in a
report.

May heating oil opened 97 points higher at $1.4077/gal, paring overnight
gains, but tracking with ICE gasoil. Buoyant prices for middle distillates was
increasingly difficult to justify given an overhang of inventory and weak
demand readings.

May RBOB opened 53 points lower at $1.4579/gal.
--Linda Rafield, linda_rafield@platts.com