The International Energy Agency report confirmed market sentiment when it cut its global demand forecasts for 2014 and 2015 and pointing out that despite all of the conflicts going on in the world the market remains well supplied.
Crude oil futures prices were under pressure during most of the week, as strong inventory builds and the increasing value of the U.S. dollar eroded crude oil prices. Production growth in the U.S. continues to outweigh solid demand.
With continuing uncertainty in economies around the world, it is likely that crude will remain range bound for the near term future. So how can a trader capitalize on a market that is trading within a range? Use an iron condor.