Oil Prices - October 4
Posted: Thu Oct 04, 2012 5:04 pm
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.
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.