June crude oil prices broke out to a new one month high yesterday and maintained strength through the session to close near the upper end of its trading range. US manufacturing data that came in above expectations looks to have been the catalyst that emboldened buyers, receiving spillover support from a declining dollar and rising equities.… Read more
Energy OverView May 1, 2012
The market shook off early weakness yesterday to finish with only a modest loss. A late move to 105.16 marked a new nine-day high. June crude oil prices were under Initial selling pressure measured the effect of economic data from Spain indicating that the country was in a recession, as well as a disappointing US economic statistics.… Read more