Central Valley Cooperative

The energy complex trade is trading generally lower as the dollar moves higher again. The cost of financing Europe continues to climb as Spain’s bond auction yielded higher rates. This continued collapse of Europe’s ability to grow and finance their debt crisis problem becomes near impossible and energy demand remains questionable. Tight global stocks, strong Asian demand, and tighter U.S. petroleum stocks keep this market on edge. Can the energy bulls keep marching higher? Most believe not and today’s market appears to be very defensive.