The energy complex may go into this weekend on a high note. Oil prices have rallied about $3 from yesterday's intraday low. Some traders are telling me it's mostly short-covering, with the bears unable to push prices all the way down to $86.
Today traders' focus isn't so much about supply concerns--Shell declaring it's suspending exports from Nigeria's Bonny export terminal or forecasts for lower output from the North Sea next month--though they are supportive.