Energy Review This Week: April 25th, 2011

Like usual, [B]Pitguru Daniel Cronin[/B] would like to share with us the energy review for the week to help guide your work.

[B]The Energies Review[/B]
For the week of April 25th, 2011

Crude oil had another positive week climbing up to $112 a barrel after liquidating down to $106 earlier in the week. There seems to be a range bound territory right now with the WTI from $116 to $105.50 and I would look for this trend to continue with Crude grinding higher ever so slightly. The Euro/USD rallied to the upside (weak USD) as this market broke out above $1.45 to the upside and this has been the weakest the market has seen this so far this year. Gasoline at the pump has now risen over $4 and is inching higher to the $4.30 mark. This is putting a huge burden on consumers and will probably force some to not take far vacations this year. The Crude market finally saw a drop in supplies which added a bit more fuel to the fire. I am looking for $116 to be the resistance this week but the market, grinding the way it keeps on, is likely headed a bit higher after breaking this number.