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Oil futures settle below $87/bbl for the first time since mid-July, -2.2% to $86.67, as a...

Oil futures settle below $87/bbl for the first time since mid-July, -2.2% to $86.67, as a stronger dollar and weakness in the broader market pressured prices. Also, the restart of the Keystone pipeline eased supply concerns. Energy stocks (XLE) fall hard, -2.1% vs. broader S&P -1.1%. However, natural gas rebounded, perhaps on expectations for colder weather or simply a bounce off yesterday's big drop.
Comments (1)
  • Windwood Trader
    , contributor
    Comments (2446) | Send Message
     
    Pay me now or pay me later the oil folks say-
    They will soon be back.
    I'm long oil, but I throw in a Put purchase now and again.
    23 Oct 2012, 03:30 PM Reply Like
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