Cameron Hanover – Daily Energy Hedger – June 11 2010

The oil complex was strong yesterday, and crude oil prices broke to their highest level in four weeks as traders bought on a combination of bullish fundamental factors (in this week’s DOE report and in an IEA report out Thursday), technical strength (on the charts), higher equities quotes and a stronger euro. The euro advanced to more than $1.21 after flirting with $1.19 earlier this week. And, the DJIA roared higher, gaining 273.28 points, to finish at 10172.53.