Tag Archives: USO

What’s behind crude oil’s bullish posturing

WTI crude oil price continues to trade slightly higher in the $2.07 range on the first session of the fourth quarter. Price has been holding on positive comments from European Union Commissioner Olli Rehn about the Spanish banking system’s stress tests, suggesting the euro zone debt crisis could be contained. 

Analysis Commodities ETFs Oil

Crude oil is running

With the increase in U.S. jobs pleasantly surprising markets Friday, but simultaneously disappointing with the uptick in unemployment from 8.2% to 8.3%, speculation remains mixed ahead of Federal Reserve Chairman Ben Bernanke’s speeches today and tomorrow. 

Analysis Oil Trade Ideas

Crude oil reacts to the ECB

Market participants waiting for European Central Bank President Mario Draghi to reveal his plan to solve the euro zone crisis at 8:30 a.m. sent crude oil as high as $89.63. Within four minutes of Draghi’s statement containing no actionable plan, crude lost its gains and proceeded to the $86.92 level. 

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