Energy Market Updates
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ukraine, (3)
Sino-Russian Gas Deal, Ukrainian Post Election Violence, and Contracting US GDP Numbers - Oh My!
(image credit: Wikimedia Commons)
Commodities, Stocks See-Saw on Sanctions, EIA, Unemployment, and Tech
Wednesday's EIA report showed that the API projected Crude drops come to fruition, falling 1.78 million barrels. As we all saw this pushed up Crude & ULSD prices on the day, with ULSD closing up .0398 to 2.9275, and Crude up to 100.81, once again hanging by the new (unfortunately) benchmark of $100 we've all been hoping to drop from for quite some time now.
Brent ticked upwards this week as well on EU discussion of stricter sanctions on Russia. Putin had announced earlier this week that Russian troops had withdrawn from the border, but no such withdrawal happened according to everyone else in the area, so more sanctions are back on the table it appears. Economic sanctions on the world's second largest energy exporter are, unsurprisingly, not great for downward price pressure.
WTI Drops Big (Again) on Expected Builds
Ukraine Tension, Inventory Projections & Chinese Economic Data
Houston & Ukraine Concerns Drive Early Week's Market Swings