Cameron Hanover – Daily Energy Hedger – April 30, 2010

Oil prices were higher again on Thursday as investors reacted to this week’s latest unemployment numbers, which were supportive. This followed on the heels of Wednesday’s advance, which seems to have been primarily in response to the Fed’s assertion that interest rates would not be raised any time, soon. Equities prices were also higher on Thursday, and the “carry trade,” or the movement higher in a number of assets because of “risk appetite” seems to have become the dominant, if not only, real factor behind higher quotes lately.