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LIGHTNING ROUND: Crude will header lower again - trader

Thursday, September 20, 2012 - 01:59

Sep 20 - NYMEX trader Alan Harry says crude oil should test the $90 level and move higher, but if it falls below his target, prices could go as low as $85-$86 a barrel.

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-- -- thanks trader Alan Harry joins me -- lightning round on oil prices Allen volatile couple days and the energy markets how long do. This week it can -- last. I think we get to had been on a level. If we do tell us that don't break it we're heading back up -- I want that we have break in at night in Al loaded while ago 86 to 85. The subs -- QE3 -- trouble in the Middle -- store's supply issues. Well I I think right now we have is bad economic data coming out world economies. Put pressure on crude oil and we haven't really seen anything yet. From the QE3 action. However I think the future we well we haven't had much news out of the Middle East. Acting on crude oil and the simplest way so right now it's the bears bad economic data down we go ninety dollars I think which tests I think with. They earlier in the week we had that big quick. He did increase it might have been one of those fat finger trade like on the floor when that happen. It was it was impressive. And as the fat finger trade -- fat finger trade. Has that big selloff for that they've got moved and then immediately we tracks from it didn't happen this time. So it's tough to say if that was a fat -- move as opposed to somebody get out of position. And you're saying now we also thought contracts -- -- starting tomorrow do you think the -- on down at all. Doesn't we're gonna it's not gonna have much of an impact. The seasons -- for of oil in the driving season. He can season's not about just not a good start up another month and a half to two months. Putting grip the mercy of news events right -- that's straight in the energy markets right now is what. The best written energy markets ninety dollars doesn't break through -- spartans -- Harry could talk Q thanks so much. I'm Rhonda schaffler is this Reuters.

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LIGHTNING ROUND: Crude will header lower again - trader

Thursday, September 20, 2012 - 01:59