The apparent initial signs of economic recovery for the U.S. economy this past two weeks namely in the form of reduced unemployment rates and at least slightly improved productivity calculations served to jump start equity markets and stimulated a renewed speculative interest in commodity markets including crude oil. U.S. government stimulus plan related multi-million dollar cash injections into the U.S. economy have assisted the funding of speculative activities in the commodities markets. Related fears of inflation also have increased investor's interests in inflation hedging commodity purchases. On the refined product side, reduced production in the form of both planned reduced refinery outputs coupled with unscheduled interruptions such as the recent Irving refinery shut down have restricted domestic output. In addition, increased demand from Europe has interfered with traditional import shipments for this time of year with the combined result of an upward pressure on New York Harbour pricing as of late.

• U.S. retail sales fell for a second month in a row during April according to the U.S. Commerce Department.

• Housing sector sales were mixed with furniture retailers falling .5% and building material and garden supplies dealers rising .3%.

• Year over year auto and parts retail sales are 20.7% below April 2008.

• Sales last month decreased 0.5% at clothing stores, 2.8% at electronic stores, 0.1% at general merchandise stores and 1% at food and beverage stores.