Oil Prices - October 4

[dan_s]

Quite a wild ride for oil investors the last couple days. I know it is tough to do, but don't over-react to the wild swings. The fundamentals are strong for crude oil. Supply/Demand is tight out there and with all the problems going on in OPEC countries the geopolitical premium should hang around. Remember that computer programs make a lot of the commodity futures trades. Once the price starts moving down a lot of stop loss orders can cause big dips. - Dan

Romney kicking Obama's butt last night is just as good as any of the reasons below for oil's move today.

Recap Energy Market Report
Thu 04 Oct 2012 15:27:04 CT
Related Keywords: Energy Share on emailShare on printShare on facebookShare on twitterShare on google_plusone November crude oil trended higher throughout the US trading session and managed to overtake Wednesday's high in the process. There seemed to be a number of positive catalysts supporting the day's advance, including weakness in the US dollar, bargain hunting after yesterday's downdraft and gains in the product markets. There were also a number of headlines circulating over the conflict between Syria and Turkey, as well as US officials investigating the Embassy bomb site in Benghazi from the September 11 attack. Reports of a fire at a large Texas refinery offered support to the US gasoline market, which seemed to provide an added lift to crude oil prices.