Energy OverView August 10, 2012

Front month NYMEX crude oil prices continue to languish just under recent highs. Disappointing Chinese, German and French data overnight have led to more length being shed. In addition, the IEA’s diminished outlook for oil demand, adding to the EIA and OPEC reports earlier in the week, is also adding to the overnight selling pressure. However, it is difficult to determine the strength of momentum in either direction…