The market was anticipating a build up of crude oil inventory this week as refiners are not all that keen on buying $136 oil. They cannot sell the refined product at a decent profit.
That's right, the price of gasoline should actually be higher based on the price of crude oil.
Why isn't it?
Count the number of gas stations in your neighborhood. There are simply too many and the competition is fierce. They really only make money selling all the "junk" in the store, not by selling gasoline.
Anyway back to the trading, in this case the pre inventory report guessing was correct as the price just kept falling after the report was released.
Nice day to trade.