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Daily Futures Commentary May 10, 2010

May 10, 2010 Crude Oil Prices Snap Back on EU Aid Plan June Crude Oil rallied nearly 4% overnight after the European Union provided clarity to the commodity markets with a plan to stabilize the Euro Zone economic region. The EU’s plan provides new financial aid worth nearly a trillion Dollars. The new aid proposal which includes several key measures subject to parliamentary approval calls for the restructuring of debt, low interest loans and the purchase of government and private bonds. The positive move by the European Union is driving up demand for riskier assets this morning after a hard sell-off last week. In addition to the fresh news out of the Euro Zone, traders are now getting a chance to refocus on the positive economic news…
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