Analysts are trying to find any positive news that will get prices moving up and today that piece of positive news was the pledge by Merkel and Sarkozy that the sovereign debt problem would be solved. This solution has been in the works for over a year with no end to the problem but the pledge was enough to raise crude 2.9%. Since today was the Columbus Day holiday, trading was light. The increases for crude and products was also probably due to the fall of the dollar as the euro strengthened.
Today, WTI +$2.43, $85.41; Brent +$3.25, $108.95; RBOB 4.77¢, $2.6953; HO +4.51¢, $2.9039.
No comments:
Post a Comment