Energies Reverse Settle Near Lows On Dollar Strenght
Energy Futures---The energy futures this morning in New York were higher across the board with stock markets around the world with many commodities this morning with crude oil higher by $1.10 a barrel but then sold off to finish lower by 10 cents in the July contract at 90.90 while unleaded gasoline for the July contract finished up 150 points settling near 2.8470. Heating oil futures for the July contract were higher by 150 points in early trade before plunging to finish lower by 200 points at $2.81 a gallon on optimism fading quickly that Europe might get its act together and come up with some financial plan that satisfies Germany and all the other countries in the Euro. In my opinion I believe these higher days are just kickbacks in price because I don't believe that there is even a solution to the European problem unless you kick Greece out of the Euro also I think prices are headed back down to 2010 lows of around 75 – $80 a barrel when the last crisis happened. Natural gas futures are slightly lower by three points in the July contract currently trading at 2.59 down for the third consecutive trading day on forecast of cooler weather. The U.S dollar is lower across the board against all the major currencies prompting stock and commodity prices higher in early trading this 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.
There is a substantial risk of loss in futures, futures option and forex trading. Furthermore, Seery Trading is not responsible for the accuracy of the information contained on linked sites.