The economy and corporate America remains solid -- we are going to resume an upward trend and the equity market knows it very well. The sharp drop in the GDP was just a bleep.

The economy and corporate America remain solid -- we are going to resume an upward trend and the equity market knows it very well. The sharp drop in the GDP was just a bleep.

If the inversion is to persist or deepen, then it may be interpreted as a real bear sign.

The gain in distillate was unexpectedly large, which should eventually weigh on the market. Distillate increased because a decline in demand coincided with an increase in imports.

That's a very volatile category. We can't necessarily count on the increase we've seen in that category to continue the rest of the year.

It is typical to see a slight drop in utilization in the first week of the year. This slight drop, coupled with imports, could allow for a slight crude-inventory build.