By | August 14 2012 9:20 AM

Another choppy light volume day and if you were not paying close attention you might not realize that oil is going higher. In fact, led by the Brent Crude on concerns surrounding North Sea production and of course those pesky geo-political worries oil is rising step by step an inch. North Sea blend production is near record lows due to maintenance. Weak Eurozone growth but in line with expectations and Chinese data are also keeping hopes and oil high in the belief that China or some other nation will provide some stimulation for the floundering global economy. There is nothing like fear and stimuli to provide support for oil. Yet a hotter than expected US PPI may cool market expectations just a bit