Floods, pestilence, locust, cats and dogs living together.
CL Redux
- Thread starter schizo
- Start date
http://online.wsj.com/article/BT-CO-20110516-701940.html
Strauss-Kahn had been due to meet with euro-zone finance ministers Monday and Tuesday to discuss the European debt crisis.
Even though the IMF has already released a statement saying that it's fully "functioning and operational," some analysts are worried about the incident's impact on its long-term stand on euro-zone monetary policy.
"IMF without Strauss-Kahn will get tough on Greece in terms of its support for fiscal rehabilitation as he played a key role in the Greece issue and is a good friend of Greek Prime Minister George Papandreou," said Yoichi Ito, chief analyst at STB Research Institute.
Like many other asset classes, the oil market continues to take cues from currency movements, and it is under downward pressure from the dollar strength expected against the euro with all the focus on the IMF incident while supply-demand fundamentals temporarily take a back seat.
Physically, oil supply remained tight due to healthy Chinese demand and lower output from the Organization of Petroleum Exporting Countries, as shown by the backwardated market structure in Brent crude, but players are reacting to "a string of fears" including large dollar moves and euro-zone debt worries, Barclays Capital said in a research note.
Crude oil prices are expected to remain volatile through the early part of this week as investors watch headlines on euro debt-related news with anxiety, but support might not be far below current levels after heavy selling in recent weeks.
"IMF is still functioning...I think support will emerge around $98/barrel," Newedge Japan trader Yusuke Seta said.
Strauss-Kahn had been due to meet with euro-zone finance ministers Monday and Tuesday to discuss the European debt crisis.
Even though the IMF has already released a statement saying that it's fully "functioning and operational," some analysts are worried about the incident's impact on its long-term stand on euro-zone monetary policy.
"IMF without Strauss-Kahn will get tough on Greece in terms of its support for fiscal rehabilitation as he played a key role in the Greece issue and is a good friend of Greek Prime Minister George Papandreou," said Yoichi Ito, chief analyst at STB Research Institute.
Like many other asset classes, the oil market continues to take cues from currency movements, and it is under downward pressure from the dollar strength expected against the euro with all the focus on the IMF incident while supply-demand fundamentals temporarily take a back seat.
Physically, oil supply remained tight due to healthy Chinese demand and lower output from the Organization of Petroleum Exporting Countries, as shown by the backwardated market structure in Brent crude, but players are reacting to "a string of fears" including large dollar moves and euro-zone debt worries, Barclays Capital said in a research note.
Crude oil prices are expected to remain volatile through the early part of this week as investors watch headlines on euro debt-related news with anxiety, but support might not be far below current levels after heavy selling in recent weeks.
"IMF is still functioning...I think support will emerge around $98/barrel," Newedge Japan trader Yusuke Seta said.
Long 97.80 stop: .20
out 99.14
short 99.40 , stop: .15
out 99.10
:eek:
amazing trade
