Oil prices as well as other markets are riding the wave of emotions as the markets try to figure out if the Cyprus bailout is a good or bad thing. Bailouts are bullish and the market acted accordingly.
While the weather in China is very cold, it appears their economy is starting to get red hot. China’s export growth exploded, rising 14% in the month of December. Because of that petroleum demand, expectations are rising.
The London Metal Exchange said Tuesday that BOCI Global Commodities (UK) Ltd. has been approved for category two associate broker clearing membership and will become the first Chinese member of the exchange.