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What is the Strength in NYMEX Oil Telling Us?


The most curious of all the market moves today is oil, which is on a one-way trek from yesterday's close at 108.50, and has not so far gyrated wildly like the other markets.

Why?

Is a new, more powerful "Syria premium" being built into NYMEX Oil?

Or are the supply problems from Cushing, OK and declines in Libyan and Nigerian production underlying strength of oil?

Or, maybe US and global demand is picking up, too?

I don't know what the story is, but oil acts suspiciously strong, and appears poised to revisit the Aug high at $112.24.

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