Tag: December OilSort
A bullish U.S. Third Quarter GDP Report this morning has helped launch a strong rally in the December stock index futures. Traders have renewed their demand for higher risk assets after a four-day decline. Technically, the markets are only retracing the recent down move. A close on the high and a follow-through rally tomorrow will be a better indication that the correction is over.
December Crude Oil and Gasoline are trading weaker at the midsession following an unexpected rise in inventory and a drop in demand. The Energy Information Administration showed crude oil inventory rose by 2.8 million barrels at the end of last week. Traders were looking for a 1.5 million barrel decline. Demand also fell by 3.3%.