Iran

Daily Energy Report
Commodities

0

Oil prices could continue higher over the next week or so, but we’re cautious about the possibility that yesterday’s rally has difficulty being maintained. The market may gain support from signs of improved economic conditions following PMI data in China and the U.S., the breakout in S&Ps to 2 1/2 month highs, signs of fund buying in COT data, and the military exercises being conducted by Iran

Daily Energy Report
Commodities

0

Oil markets may continue their sideways trend this week, as the trade continues to face pressure from a lack of progress on the fiscal cliff. Background pressure will remain in effect from growing domestic oil production, elevated oil inventories, and last week’s hold at the 50-day moving averages in Brent and WTI.