The energy markets are really moving today, with AUG13 crude oil now trading up $1.31 to $107.80. We believe this market could quickly approach $110. Heating oil is another related market that has been on fire recently.
Data overnight is a mish mash but there is nothing in it to inspire an energy rally. Now with stocks faltering on turmoil in Turkey and some mixed data out of China and Europe, the downside slide looks to continue.