Cameron Hanover – Daily Energy Hedger – July 12, 2010

Oil prices finished an up-again, down-again session, during which it seemed that oil prices were following the DJIA, with a minor double-digit gain, capping a remarkable comeback week after heading into last week’s close with consecutive losses all week long. It seemed that all day Friday, crude oil prices were mirroring the moves in the DJIA. Single-digit gains in the DDow were accompanied by single-digit gains in oil. At the end of the day, crude oil prices finished up 65 cents while the DJIA ended up 59.04 to 10198.03.