Crude Oil & Products Down Again !

18 Apr in Blog, commodity broker, crude oil futures, futures broker, heating oil futures, Michael Seery, natural gas futures, option broker, Seery Futures LLC, unleaded gasoline futures

 Energy Futures--- The energy futures had a wild ride today in New York with unleaded gasoline rallying towards the end of the closing bell the only finishing down 200 points to settle in the May contract at 3.21 a gallon and earlier in the day was down over 900 points while heating oil futures only finished down 50 points also rallying over 300 points from session lows to close at 3.121 the May contract. Crude oil futures however did settle at the lows of the trading day down $1.55 a barrel to close at 103.10 closing right near the lows of the trading range of the last several weeks. In my opinion I am bearish all commodity markets including the energy sector because I believe that we have a glut in supplies and I believe that this summer will bring less demand because we will have some clouds on the horizon across Europe and China. Unleaded gasoline hit an eight week low at one point during the trading session today due to concerns about European debt crisis with traders keeping an eye on tomorrow's Spanish bond auction which could have huge impact on stock and commodity prices tomorrow morning. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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