Crude Futures Rise for Fourth Straight Day

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Dec. 4 (Bloomberg) -- On today's "Futures In Focus" Athena Advisor Services Senior Vice President of Economic Research Dan Stecich discusses the price of oil on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Various factors across current -- factors of crosscurrents pushing oil, what is the biggest factor this morning?

You pointed out the supply- demand thing, with the cushion supply opening.

The single most important driver is the perception that the fed will taper because of a stronger economy.

A stronger economy is going to be the biggest influence on the price of oil in the short term.

What about the long-term?

That perception will drive things only so far.


In the short term, you say, ok.

We are well supplied even with the drop we saw in the markets.

Demand will go up a bit.

Will it go up enough to upset the supply-demand equation?

I don't think so.

I think you will see oil in the low-90's. we are six to nine months out, assuming the economy is getting stronger.

The bounceback we have seen this week -- how much more room doesn't have?

-- does it have?

I think the 97.50 level, it will have some resistance.

The 99.50 level, you have some resistance.

You break through there, you could head up to 102. the brent crude narrowing -- it is down to a nine-day low.

What are the ramifications?

The narrowing is a result of this cushioning thing.

It is an imbalance getting back to balance, i guess is what you would say.

More of the wti is going to get on the market and that is going to hurt the brand as -- the bren t as well.

What could confirm whether or not the federal reserve -- what could happen between now and friday when we confirm whether or not the federal reserve is on track to taper in march?

Look for options plays or straight0ou-out long.

Do you carry it through unemployment?

I don't know.

I is a dicey situation.

-- that is a dicey situation.

Thank you so much.

We are "on the markets" once

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