Cameron Hanover Daily Oil Recap (11/11/2010)

Cameron Hanover Daily Oil Recap (courtesy of www.fmxconnect.com)

Oil prices were mixed on Thursday as traders took a brief time-out from pushing quotes higher after crude oil and gasoline joined heating oil with decisive technical breakouts to the upside. All three major oil contracts are in clear trends higher, with or without help from currencies or equities. Crude oil prices ended the day in fractionally lower territory, along with heating oil, while gasoline prices ended slightly higher on the day. Traders were impressed by early news from China, which showed refinery throughput at a new record high. Trading volume was on the light side on Thursday, with a number of businesses closed for Veterans’ Day.

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