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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Dec WTI crude oil this morning is up +22 cents (+0.27%) and Dec gasoline is up +0.0141 (+0.65%). Dec crude and Dec gasoline on Tuesday closed higher. Closes: CLZ4 +0.58 (+0.71%), RBZ4 +0.0145 (+0.68%). Bullish factors included (1) signs of stronger Chinese oil demand after China Q3 GDP grew at a faster than expected pace and after China Sep crude processing rose +9.1% y/y to 10.3 million bpd, the most in 15 months, and (2) the stronger-than-expected U.S. Sep existing home sales that boosted stocks and bolstered the economic outlook.