CPI number was okay (not great but not bad) so ten year yield is close to flat. At least that should be supportive to prices.

Concerning Valero Limited Partnership...one reason for the downtrend...or maybe the reason...could be the energy bill and MTBE. Valero announced that it would cease refining gasoline with the additive that was suppose to clean the air and wound up polluting groundwater. This would cut back refinery production for them...here is a quote.

"The move will cut fuel output at San Antonio-based Valero by about 60,000 barrels a day, or about 6 percent of the company's current daily production, spokeswoman Mary Rose Brown said this week."

Full arcticle at the above link.

Inching closer to the open...Exxon indicated a few pennies higer. XOI has every right to correct down to the supportive moving averages.