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Home / Futures Blog / Crude oil rises, but volume is low

Crude oil rises, but volume is low

October 28, 2010 by Daniels Trading

Commodities markets waited with bated breath today for what one analyst called a "deluge of data." Friday, the Department of Commerce will release a report detailing the U.S. gross domestic product for the last month, while Monday and Tuesday will bring the Federal Open Market Committee meeting and the midterm elections.

Currency futures, commodity futures and stock index futures are all in "the calm before the storm," Summit Energy analyst Matt Smith told the Wall Street Journal. Indeed, the New York paper said that Thursday was the lowest-volume day of the year for New York Mercantile Exchange crude oil futures contracts.

West Texas Intermediate light, sweet crude oil futures rose 0.3 percent to $82.18 per barrel, while on the Intercontinental Exchange, Brent crude oil futures climbed 0.4 percent to $83.59 per barrel.

The Fed is acutely aware of how important its quantitative easing announcement will be in terms of market movements. Bloomberg reported today that it actually took the unusual step of surveying dealers to gauge their opinion of how bond yields will shift if the Fed announces that it will buy $250 billion, $500 billion or $1,000 billion worth of Treasury notes.

That suggests the central bank may actually be targeting a certain amount of post-QE rally to bolster its case. A substantial easing program will probably send commodities futures soaring, but with high and perilous volatility.

Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

About Daniels Trading

Daniels Trading is an independent futures brokerage firm located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading is built on a culture of trust committed to the firm’s mission of Independence, Objectivity and Reliability.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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