Oil Action: NYMEX crude is up $1.02 Oil Action: NYMEX crude is up $1.02 at $93.90/bbl, after touching a low of $92.68 on Tuesday. Strong U.S. PMI data, reported on Tuesday, along with a slightly softer dollar, and generally over-sold conditions have helped prices higher this morning. This said with supply ample, upside may be limited to the $94.50 region near term.
Futures rise on Ukraine ceasefire U.S. equity futures are pointing to a higher open following reports of a cease fire between Russia and Ukraine. Global markets were also helped by new signs of strength in the U.S. economy and the belief that the European Central Bank will implement additional stimulus measures. U.S investors will be watching the Fedís Beige Book Report this afternoon, but first they will receive data on factory orders and manufacturing in the New York area.