Crude Oil Flirts With $99 Per Barrel

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Dec. 20 (Bloomberg) -- Big Brokerage President Jeffrey Grossman discusses the price of oil on Bloomberg Television's "In The Loop. (Source: Bloomberg)

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Are we heading into a much stronger 2014? i have to say from a technical standpoint the market data hold some support levels and it is working its way up here.

The news that came out was very positive for equities.

I don't know how much more we have here until the end of the year.

What is going to be driving this market come 2014 is going to be whether.

I think the most important part will be if we have a cold front in the northeast.

It will probably take the crude oil with it.

Heating oil and natural gas changes very quickly.

What are you focusing on to be the way?

Heating and natural gas are both there.

Heating oil in the northeast, natural gas is the midwest.

There's going to be larger consumption than expected.

We will take the whole complex up with it.

When i look at the beauty of diverse as rent, the spread is narrowing.

What is that mean to you?

Very little.

We are basically trading a domestic crude and have to concentrate on that.

Gyrations have a geopolitical basis more than anything and every once in a while there is a momentary lip.

Right now it is trading at a lower range.

It is gone from a high of 25 over and now we are trading somewhere in the middle there.

I can't really put a handle on where we are going to go in the near term.

Certain things are going to come in to play.

Right now it is trading at a fair value.

Very quickly, how do you suggest traders make money over the next week on crude oil?

If you can, i would be looking at selling some of the out of money colts, some of the things are a little rich out there.

I hope to see big spikes, $110 calls.

I think they're paying too much for them.

Is probably going to be some money if you can hang in there.

Out of the money calls.

Selling them.

Think you so much.

We are on the markets again in 30 minutes.

Live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle.

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