October crude oil registered a higher high during the initial morning hours, supported in part by weakness in the US dollar and modest lift in US equity markets. Some traders also pointed to expectations for another inventory draw in tomorrow's EIA report and modest uptick in geopolitical risk as factors that could be lending the crude oil market support. Meanwhile, uncertainty over a final verdict from the Fed to pursue more quantitative easing could be a force keeping prices within their three week trading range. The latest monthly report out of OPEC indicated that global crude oil supplies were ample and that there remained downside risks to demand into 2013.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
Most Popular Slideshows
- Australia Bids Adieu to Adam Spencer's Mornings on ABC's "702 Breakfast" Show [PHOTOS]
- SEE PHOTOS! Eva Longoria Wears No Panties at Cannes 2013, Revealed in Embarrassing Wardrobe Malfunction [SLIDESHOW]
- Top 10 Hottest Celebrities with Shocking Weight Loss (And Find Out Their Secrets!) [PHOTOS]
- Demi Lovato Snapped Getting Flirty with The X-Factor Boss, Simon Cowell? [PHOTOS]