Cameron Hanover – Daily Energy Hedger – June 30, 2010

The oil complex was down steeply on Tuesday as traders saw bearish factors all around. Alex, reportedly on its way to being upgraded to a hurricane, was tracking northwest-by-west and seemed to be on course to leave the US gulf behind. It looks like it will make landfall in eastern Mexico later this week. That course was no longer seen as being positive for oil prices.