Traders are watching headlines and not giving much weight to recent fundamentals moves. There seems to be a lot of attention paid to European political events concerning Greece and Italy and the seemingly positive news of regime change in Greece and Italy. Oil also seems to be moving away from its traditional relationships normally in the same direction with equities and counter to the dollar. Today, however, crude once again moved in concert with the dollar and opposite of equities. This seems to be a move making oil a haven for investors wanting value in case of recession or depression.
Today, WTI+$1.26, $95.52; Brent+$2.47, $114.44; RBOB+6.48¢, $2.7282; HO+4.91¢,$3.1198.
No comments:
Post a Comment