GREY:TBTEF - Post by User
Comment by
jackripperIXon May 13, 2016 8:54am
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Post# 24869400
RE:Oil could be weak today.
RE:Oil could be weak today.frankstevens17 wrote: 07:58 AM EDT, 05/13/2016 (MT Newswires) -- NYMEX crude settled into a relatively narrow trading range overnight, bouncing around between US$46.48 and $45.86/bbl. The pullback follows Thursday's romp to seven-month highs just over $47.00, and comes on further dollar strength, and the slow return of Canadian oil to the market following devastating wildfires in Alberta. Given the nearly 10% gain seen this week from lows to highs, Action Economics said it is looking for pre-weekend profit taking to keep upside contained this morning.
TBE doesn't react much to oil prices anyways.