Heating Oil Fires Energy Rally
Depleted supplies and a sluggish build of stockpiles
are fueling trader’s concern that there will be insufficient heating oil to warm
Northeastern homes this winter. Tuesday’s API report showed a sharp reduction in
both crude oil and distillates (heating oil) stores, providing the impetus for four consecutive up days.
Natural gas, from the Momentum-5
List, is also continuing higher on lower stockpiles and on pre-hurricane
season speculation.
October sugar is reversing off a 20-day high and making
good on its Turtle Soup Plus One
Sell setup, down .21 at 10.85.
January 2001 pork bellies
(
PBH1 |
Quote |
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PowerRating) are up strongly and
making good on their Turtle Soup Plus One Buy
setup, up 2.275 at 71.300.