"We still anticipate an unusually difficult trading environment going forward, with prices gyrating within about the 80-88 dollars per barrel zone well into next month in response to daily stock market shifts, with the euro-zone situation providing some background influence"
Jim Ritterbusch, president of trading advisory firm Ritterbusch & Associates
Oil futures remains firmly in contango, the price structure that reflects near-term futures contracts trading at a discount to more distant contracts. The July contract's premium over crude due for delivery in June is just shy of 2000 dollars per contract.
Related ETF`s: Related ETF`s: United States Oil Fund LP (ETF) (Public, NYSE:USO), iPath S&P GSCI Crude Oil Total Return (Public, NYSE:OIL)
