Buying sub $37's here makes sense to me for a "trade".....not sold yet that this IS the bottom in oil for the next 12 to 24 months (still watching the demand destruction picture overall).
That's because somebody somewhere always know something... (The question is whether or not what they know turns out to be significant in the long run.)
Crude Oil Rises After Israeli Attacks on Gaza Roil Middle East Email | Print | A A A By Gavin Evans Dec. 29 (Bloomberg) -- Crude oil rose a second day in New York after Israeli air strikes in the Gaza strip killed more than 285 people, increasing tensions in the Middle East and prompting some investors to buy commodities as a haven. Oil gained as much as 3.9 percent as Israel called up reservists after two days of air attacks on the Hamas-controlled region. Saudi Arabia, the worldâs biggest oil producer, condemned the âbrutalâ attacks while Syria told the United Nations to stop the âmassacreâ of defenseless Palestinians. The Middle East produces almost a third of the worldâs oil
Art Cashin was talking about an Iranian tanker full of crude that is out in the gulf and not able to dock because of the Israeli / Hamas conflict. Also, Gaprom talks with the Ukraine broke down and they will be turning off the NG to the Ukraine come Thursday.