Crude Range-bounded Despite Better-than-expected Eco Data. OPEC Downgrades 2011 Growth
BonTradeRisk sentiment remained firm as US initial jobless claims fell more than expected last week while trade deficits narrowed. Wall Street strengthened with DJIA and S&P 500 climbing +0.27% and +0.48% respectively. Both indices soared more than +0.5% in early trading session but gains were pared as details of the data were not as bullish as the headlines suggested. Crude oil initially rose and jumped to a 3-week high of 75.96 after a report showing inventory draws.
Continued here:
Crude Range-bounded Despite Better-than-expected Eco Data. OPEC Downgrades 2011 Growth
