Energy Futures a Bit Higher
ROD HAMILTON, Amerex Futures, London (8:14 am EST): Brent crude up 30 cents to $26.33, gasoil up 50 cents to $223.00 on London's International Petroleum Exchange, WTI crude up 16 cents to $29.26 on Access... holding most of yesterday's gains... some short covering into the weekend... there is little in the way of specific news to provide direction... technicals looking strong, although $26.48/70 provides congestion on the Brent contract and should limit the rally... there is much speculation over when Iraq will come back to market, how much impact it will have... also, see caution before OPEC meeting in coming days.
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