Cameron Hanover – Daily Energy Hedger – July 30, 2010

The oil complex was higher on Thursday, despite a lack of any readily attributable developments. There was a fire in a crude distillation unit at a refinery (52,000 bpd) in Cheyenne, Wyoming, but few market observers seem to believe that to have played a major role in the market’s strength. More observers assigned Thursday’s rise to weakness in the US dollar, specifically against the euro.