Oil edges lower as traders focus on U.S. gasoline demand (WTI 65.14). Initial jobless claims fall but over 16 million Americans remain jobless.
Here is the current market situation from CNN Money
European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Hedge Funds Bet On Higher Oil Prices Money managers intimate a growing confidence that oil prices have room to run higher this year, thanks to expectations of a robust economic rebound and rising global demand for crude. Last week, hedge funds added the most bullish positions in the oil complex in more than two and a half months, with the net long in crude oil futures jumping to the highest in six weeks. Rising mobility, the reopening of the economies, and the stimulus packages all point to strong economic growth and consequently, strong oil demand growth. The low-int