Update
The early morning jump in the price of oil has come back down significantly on news that the Obama presidency has another trillion-dollar deficit and downbeat overall economic report for the US going forward.
Original Post
Futures mean squat, but all things being equal, I prefer seeing green more than I prefer seeing red. I just see the crawler, not the reason.
One story has it that progress in the Greek deficit/debt talks is driving the price, and yet there is no news from Greece. I think it has to do with Iran, Iraq, and Egypt. It looks like the administration accidentally pushed Egypt under the bus.
Iraq is next. Iran is a non-story today, but with Egypt and Iraq in turmoil, Iran will eventually get back in the game.
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