The Energy Space
Energy Price Outlook
Oil markets may continue their sideways trend this week, as the trade continues to face pressure from a lack of progress on the fiscal cliff. Background pressure will remain in effect from growing domestic oil production, elevated oil inventories, and last week's hold at the 50-day moving averages in Brent and WTI. Opposing support received a boost last week from the hikes in 2013 demand estimates by both the EIA and IEA, growth in Chinese and European PMI data on Friday, and by weakness in the dollar sparked by improvement in the European debt crisis. We would continue trading oil markets as a trading affair in the near-term, as the market remains fairly priced.
...1364 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.