Friday, December 24, 2010

Happy holiday season

Dow climbed 95 this week to a new 27 month high.  The last time it was this high, Lehman was still alive (barely).  The Alerian MLP Index rose 8 this week to almost 358, but little changed from early Nov.  It has had another great run in 2010, up 73 (26%) YTD.  Dec brought good gains for most markets.

Oil consuming countries are worried about the impact of prices at 2 year highs.  Some OPEC members foresee oil heading for $100-a-barrel level ahead of the next meeting in Cairo.  Crude oil is above $91 in NY trading, up 15% YTD.  Continued cold weather in the northern hemisphere will keep demand strong in the new year.  Higher oil prices will be especially hard for airlines & car drivers to absorb (not to mention stock markets).

Oil Consumers Wary as Some OPEC Members Target $100 Before Cairo Meeting


CLG11.NYM...Crude Oil Feb 11...91.51 ...Up 1.12  (1.2%)




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With higher markets for the month & year, best wishes to all for a Happy Holiday season,



1 comment:

The Average Jay said...

Merry Christmas to you and a Happy New Year.

Jay