ENERGY FUTURES UPDATE

Yesterday´s main event was the inventories that came out with bearish numbers and pressed the crude oil just below the 60 USD level.

However, massive buy orders were triggered and pressed the oil back up and through the important 62,50/bbl resistance and peaked at $63,10 bbl.

With OPEC´s latest statements in mind that production could be cut if prices remains below $60 added to the buy side. With current outlook $65 is within the range for next few days of trading.