Crude Oil Flared Higher
The crude oil market flared higher Wednesday and has flared higher again this morning despite, a bounce in the Dollar, economic and political uncertainty, and in the face of anemic demand readings from the EIA yesterday. Therefore, the market appears to continue to look beyond current economic and political problems and in turn have left the $50.00 level in the rearview mirror.
With a big range trade on Wednesday, a new high for the move, and the highest trade since December 23rd it would appear as if sentiment toward natural gas continues to improve. In fact, surging Asian LNG prices and talk that Chinese fund managers might be throwing significant money into Green investments and given pockets of cold weather the is a cushion for this week’s rally.
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