Cameron Hanover – Daily Energy Hedger – August 10, 2010

Oil prices were higher on Monday, after advancing in trading overnight. Traders were handicapping the [possibility of the Fed, which meets on Tuesday, finding new forms of “quantitative easing,” a catchall term that generally means finding ways of getting more liquidity into the system or promoting lending or borrowing. In other words, the argument was that things are so bad that the Fed will find a way to make the world better.