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Recap Energy Market Report
Mon 07 Jan 2013 14:40:39 CT
Related Keywords: Energy
Related Keywords: Energy
February crude oil prices experienced a choppy trading session but managed to post a new high for the day late in the session. Some traders indicated that some of the support in the crude oil market came on the growing hope that the Seaway pipeline expansion effort would go into effect later this week. The expansion is expected top increase the flow of supply out of Cushing Oklahoma to the US gulf coast to as much as 400,000 barrels per day. Expectations of the expansion has tightened the spread differential between February Brent and WTI below the $18.00 during the session. Meanwhile, some traders pointed to concerns surrounding the US debt ceiling as a force that could limit demand.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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