Daily Oil Comment – 29th May 2012
WTI Crude Snapshot
Stocks provided very limited direction for the energy sector so the WTI crude prices enjoyed a brief rebound driven by a higher euro. Brief indeed because fears over the Spanish debt gave the dollar the driving seat which in turn pushed the WTI back down. Allbeit a thin trading range, the session ended 25 cents up at $91.11 but its too early to say if the bearish momentum eased.
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