Cameron Hanover – Daily Energy Hedger – May 13, 2010

Crude oil prices dropped on Wednesday, with the front month falling to fresh lows against deferred contracts. Refined products fared better, and they finished in positive territory, as traders responded to this week’s DOE report. In the process of falling, the front-month June crude oil contract finished near a three-month low, and it ended within fairly easy striking distance of its now major support at $74.50.