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Energy Market Report
Fri 03 Feb 2012 11:18:02 CT
Related Keywords: Energy
Related Keywords: Energy
Mid-Session Energy Market Report
The crude oil complex traded higher overnight and rallied to their best levels of the morning in the wake of the January jobs number. The biggest monthly job gain in 9 months and lowest unemployment rate in nearly 3 years offered evidence that the US economy was improving. Meanwhile, gains in Brent crude oil outpaced those of WTI, pushing the spread differential between the two grades above $17.00. Some traders indicated that there was a modest level of support coming into the crude oil market from renewed threats from Iran. Meanwhile, natural gas prices slipped around 3% into midday, pressured by weather forecasts calling for mild temperatures in key US demand areas.
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