Nanex Research

Nanex ~ 6-Mar-2013 ~ Orderly Crude Drop

We try and keep close tabs on market moving announcements and today's EIA Petroleum Status Report was a surprise. Not because of the velocity or direction of movement in price, but rather the time at which the movement in price occurred We have garnered attention by our reports on early Natural Gas movements here and here But today's movement in crude was the antithesis of the "early release". The announcement came out at 10:30 ET and the movement in price actually seemed to be a legitimate reaction to the news, rather than an instantaneous hair trigger movement either before or exactly on the announcement time.

1. USO - ETF tracking the price of crude.

2. CL.J13 - April Cruid Futures Prices.

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