Energy OverView December 21, 2012

Crude oil prices tried to fall, yesterday, but a rebound in the Philly Fed Index, a 3.1% GDP reading for Q3 and a rise in consumer confidence all combined to produce a mild rally. Prices even looked to challenge some key upside resistance and go for a run. Late last evening, the steady price rise came undone, as Plan B bombed in Congress. We hate the phrase, but it is a risk-off morning, The dollar is up, equities are down

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