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Energies Alert:
• Ethanol is cheap, causing exports to grow
• The bio-diesel tax credit is attached to a jobs bill scheduled for a vote by Congress this week
• A Saudi Arabian think tank suggested that crude oil could slip to $65 from the current $70 area.
• A weather system 500 miles S/SW of Bermuda has a 30% chance of being the first storm of the Atlantic Hurricane Season
• Heating Oil Non-commercials are net long 17,995 contracts, down 3,349 contracts from the previous COT report
• Unleaded Non-commercials hold net length of 48,345 contracts in RBOB, down 4,592 contracts from the previous COT report
• Non-commercials are net short 95,332 futures + option contracts, an increase of 11,155 contracts since the last CTO report.
• Ethanol is cheap, causing exports to grow
• The bio-diesel tax credit is attached to a jobs bill scheduled for a vote by Congress this week
• A Saudi Arabian think tank suggested that crude oil could slip to $65 from the current $70 area.
• A weather system 500 miles S/SW of Bermuda has a 30% chance of being the first storm of the Atlantic Hurricane Season
• Heating Oil Non-commercials are net long 17,995 contracts, down 3,349 contracts from the previous COT report
• Unleaded Non-commercials hold net length of 48,345 contracts in RBOB, down 4,592 contracts from the previous COT report
• Non-commercials are net short 95,332 futures + option contracts, an increase of 11,155 contracts since the last CTO report.
