Oil has been supported in the European session, posting a high of 87.42 before retreating. October futures slumped to as low as 83.2 yesterday but then staged a rebound and ended the day at 86.02. Sentiment has improved somewhat on rumors that the Chinese government…
Energy OverView September 6, 2011
With the US on holiday Monday, the market focus was on Europe where renewed concerns over sovereign crisis in the periphery added to the damped sentiment stemming from the dismal American jobs report on Friday.