Cameron Hanover – Daily Energy Hedger – May 24 2010

Oil prices were lower again on Friday, despite an unchanged euro market and a decent rally in equities. Although a substantial part of the rally came later in the day in equities, the DJIA still ended up 125.38 points, at 10,193.39. There was support just above the 10,000 level. Oil prices were lower less on equities on Friday than on fears of a weakening economy and on heavy supplies available in oil markets right now.