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Commodity Daily News
Oil Sees Mixed Trading Tuesday
Wednesday, 28 Dec 2011
Crude oil had a decidedly mixed day yesterday, as poor European economic news combined with worries about supplies in the Middle East brought the commodity down. Still, oil was able to eventually rally above the psychologically significant $100 a barrel level. Analysts attributed the late day spike in prices to increased demand from China. Meanwhile, demand in the US for oil has increased recently as cold weather across the country has led to more energy consumption.
Today, oil appears ready to continue with its bullish trend. Traders will want to keep their eyes on the markets though as the low liquidity environment means that unexpected price movements can occur for seemingly no reason.
