September heating oil made a marginally lower low in overnight action, but it remained trapped inside of a four week trading range. Some traders suggested that Monday's wide range reversal to the downside and the prospect that the US economy may be facing a double-dip recession stack in favor of the bears. Expectations for this morning's EIA distillate inventory data are for a weekly build in the range of 1.5 million barrels, compared to an increase of 2.2 million barrels last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
