Energy Prices Trek Higher
While many physical commodity markets relinquished significant gains from early yesterday, the crude oil market early today is very close to another upside extension. In fact, the energy markets are fighting off strength in the dollar today and are discounting slightly weaker global equities in a fashion that suggests the bull camp retains control.
With gasoline futures surging to another new high for the move and breaching the $1.80 level overnight, the bull camp extends its control into another trading session.
The natural gas market forged the most substantial daily trading range in years ($0.23) to start the US trading week. Clearly the trade has rushed to factor in a slight extension of the severe cold in the US, but that is tempered by the potential for delayed supply movement of US exports.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.