Friday, December 18, 2009
A geopolitical event is helping to give March Crude Oil a boost overnight. It’s been reported that Iranian troops entered an Iraqi oilfield. This news triggered a short-covering rally

overnight while sending this market back above a key resistance price at 75.53. The first upside objective of this current rally is 77.85, followed by 78.09.
Global equity markets are rising overnight as traders increase demand for higher risk assets.