Oil Retreats On Relief
Today’s “Mid-day Futures
Alert” was written by Eddie Kwong.
The fact that the U.S. attack was
confined to bombing and took place only on Afghani soil served to temper fears
of a
disruption of the flow of oil from the Middle East. In a reassuring statement,
OPEC stated that production would be unaffected for the time being. OPEC is,
however, evaluating the possible impact that the military action may have on
oil prices. Â
The dollar weakened after
the attacks, which propelled follow-through gains on corn, wheat, and soy
futures.
December Nasdaq 100 Futures
(
NDZ1 |
Quote |
Chart |
News |
PowerRating) moved higher after gapping down at the open. The uptrend from
Friday morning continues at mid-day.