Cameron Hanover – Daily Energy Hedger – July 20, 2010

Crude oil prices posted light gains on Monday as traders seem to have taken their cue from equities. The DJIA finished up 56 points, and crude ended up 53 points, with the rough point-for-point correlation seemingly back in effect. In the process, and at one stroke, crude oil prices erased last week’s loss (all eight cents of it) and helped to paint a more supportive technical picture.