Reply #40: May crude on the rise early Friday [View All]

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38443.4261394792-833761898&siteID=mktw&scid=0&doctype=806&

DALLAS (MarketWatch) - May crude-oil futures moved higher Friday morning on the New York Mercantile Exchange, still feeding off a warning of $100-plus oil. The contract was last at $55.60 a barrel, up 20 cents. "The reason for the move higher is clear," said Kevin Kerr, president of Kerr Trading International. "The Goldman Sachs analyst report signaling $105 crude jolted the market. Clearly the oil market is bullish in the long term. However to suggest that it will happen in some mythical "superspike" right around the corner is pure fantasy."