Crude oil back above $100/bbl

Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » Nifty BSE | NSE 13/02/12 Are Mutual Funds betting on Nifty?

Here is a transcript of Sharon Epperson's comments on CNBC-TV18. Also see the accompanying video.

Oil prices have been following the equities market over the last couple of days of course after that dramatic sell off yesterday; we are seeing a big recovery and rebound today in oil prices. But will that hold tomorrow when we get the inventory report from the Department of Energy?

There are expectations out there that we could see either a one and half million barrel draw or build in crude supplies. The build, of course, is coming from the fact that we could see crude production and imports climbing. But then will refinery operations have recovered enough to take those supplies? We are looking as well at what has happened to the refiners. Refiners continue not to make very much money of course on gasoline or hitting oil even though some of the major energy stocks were up today refiners still taking a hit.

CRUDE RISES

Oil mkt following equities

Oil over $100/bbl

Inventory report out tomorrow

Crude down 30% from July highs