March crude oil prices traded higher during the initial morning hours, reaching their highest level since January 19th. Some traders were encouraged by the markets' ability to brush-off overnight reports from Moody's that downgraded the ratings of 6-European countries. Perhaps German economic data this morning that showed a better-than-expected read on sentiment fueled the early gains. Middle East tensions seemed to provide another source of support to the crude oil market, especially after two bomb attacks on Israeli embassies yesterday. There are also reports of an oil workers strike in Yemen that has halted around 250,000 barrels per day of export flow. Brent crude oil appears to have lost a level of support from weakness in gasoil again this morning as demand ebbs on weather forecasts calling for a warming trend in Europe.