Energy Overview — TotalView™ of the Energy Markets
ALERT: MARKET PARTICIPANTS TAKE A BREATHER
| Contract | Month | Last | Change | BIAS | Comment |
| Crude Oil | September | 84.98 | -.40 | Lower | Poor Fundamentals should keep pressure on despite retracement rally. |
| RBOB – Gasoline | September | 2.9066 | .0029 | Lower | Overall pressure remains, despitecrack spread rally |
| Heating Oil | September | 2.8198 | -.0024 | Lower | Demand readings continue to swing sentiment. |
Oil rose yesterday in an active market that produced an almost $4.00 range top to bottom. Post-settlement prices fell almost a dollar after Moody’s cut of Ireland’s credit rating to junk status pressured the euro to the benefit of the dollar.… Read more
We have seldom seen a more inconclusive market as crude oil yesterday. Even though a new low for the move down from 104.00 was struck, selling momentum stopped dead at 97.74. The key correlation was the dollar. As the dollar moves lower, oil moves higher.… Read more