La Croix Energy Capital | Petroleum Derivative Trading

“Think like a fundamentalist; trade like a chartist.”
Dennis Gartman. Rule #8 - Gartman’s Simple Rules of Trading

Friday, May 7, 2010

Crude Oil in the News

Oil down a fourth day, tracking Wall Street
May 7 (Reuters) -- Oil fell for the fourth day in a row on Friday and was on course to post its biggest weekly loss in almost a year and a half, tracking a steep fall on Wall Street on euro zone debt worries.

Better-than-expected U.S. jobs data for April failed to calm fears in oil markets that if Greek's debt crisis spread to other euro-zone economies, the budding economic recovery could slow and still dampen currently lackluster oil demand.

Read more...