In the aftermath of the biggest point drop opening in the history of the stock market open, crude oil today is battling back. As European and U.S. stock markets even as china and Japan markets fall the crude market is trying to make a run higher and get out of the $30 per barrel handle danger zone.
Iran is planning to hold an "energy summit" from Dec. 14-16, to unveil new energy contracts and highlight just how quickly they can bring their oil back into the market. Let's hope the U.S. producers can hold a summit.
Oil prices bounced from three-week lows in choppy trade on Tuesday as investors awaited a Greek debt default, shying away from riskier assets and putting benchmark North Sea Brent crude on course for a second month of losses.