Friday, September 14, 2012
CME Group Energy Market Recap for Friday Sept. 14th
Further weakness in the US dollar and a drastic improvement in risk taking sentiment inspired the gains in October crude oil. Gains were also seen in the product markets on the hopes that more US Fed quantitative easing could stimulate demand. It also seemed that more unrest in the Middle East region provided an added level of support for the crude oil complex.
Meanwhile, this morning's US reading on Consumer Prices showed their largest jump in three years, with 80% of the gains coming from higher gasoline prices. October crude oil ended the week with a gain of 2.6% and the highest close since May 7th.
Get our Free Trading Videos, Lessons and eBook today!
Posted by Ray C. Parrish at 9:17 PM