Talking about volatility, what do you think about a 4.3% rise in crude futures the day after a 4.4% increase the day after 2.5% decrease that was part of a 21% drop month-to-date. Is it the computer programs or do analysts and traders only live in the moment? U.S. GDP is up and jobless claims are down. The economy seems to be on the mend. China said it supports the euro and that helped the euro rise 1.7% against the dollar.
The markets may be a little bit more volatile tomorrow as the exchanges will be closed for the Memorial Day holiday on Monday. Traders and analysts will be second guessing every move because of the extra weekend day off.
Today, crude +$3.06. $74.57, gasoline +7.41¢, $2.0407, distillate +8.33¢, $2.0017.
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