energy markets

Oil prices rebounded Tuesday, jumping back above $115 barrel after the dollar weakened against the euro and a rally in heating oil attracted new buyers into energy markets.

This week doesn’t bode well for the overall stock market, even though the Dow Jones was up 300 points on Friday, and even though tech stocks have held up well over the past few weeks in a volatile traading environment.

My chief concern is the Russia military action in Georgia. This weekend, the Russians went after a key oil pipeline that delivers oil to the west.

According to wire service reports on the ground in Georgia, damage was significant. That’s the last thing the energy markets needed, and by extension, the stock market.

If the damage to the pipeline is severe, then look for oil...

Financial industry executives say that a Congressional effort to rewrite the rules for the nation’s energy markets could unsettle already nervous markets and push more energy trading abroad.