Cameron Hanover – Daily Energy Hedger – October 11, 2010

The oil complex started out moving lower in trading overnight and into Friday morning, on Globex and in Asia and then Europe. There was follow-through selling from Thursday’s session, and investors were booking profits, producers and refiners were locking in selling levels and technical traders were selling against overbought pressures. In early trading on Friday, the dollar was steady and equities were lower.