November crude oil prices grinded higher during the initial morning hours, supported by gains in global equity markets, favorable lift in sentiment surrounding Spain's debt rating and weakness in the US dollar. Some traders indicated that weakness in the December dollar index offered support to the crude oil market. Meanwhile, some of the upside in the crude oil market might have been tempered by private industry data Tuesday afternoon that showed a build in crude stocks that were more than double expectations for today's EIA report of 1.5 million barrels.
*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.
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