Excerpt from: Financial Spread Betting Strategies
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| June 14, 2007 | | Placing spread bets on crude oil prices | Crude oil prices are heading back up on the commodities exchanges after dipping for a bit. Financial spread betting strategy should consider that crude oil prices are likely to continue to move up as the summer driving season in the U.S., along with refineries operating at lower capacity, strain future supply. MarketWatch reports on crude oil prices:
And refinery utilization fell to 89.2% of capacity last week, from
89.6% a week earlier, according to the Energy Department report.
"What's the most troubling concern here is that refinery capacity
declined 0.4% back to 89.2% -- that will hinder production increases in
the week ahead," said John Person, president of NationalFutures.com.
At this time of year, refinery utilization should be between 92% and
94% of capacity, according to Chris Lafakis, an associate economist at
Moody's Economy.com. | | |
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