A post-settlement report of a pipeline fire in Saudi Arabia drove prices to levels not seen since last Spring. Official denial from the Saudis sparked a reversal of almost $2.00 before the electronic session concluded for the day. While the report should have been greeted more skeptically, considering it emanated from Iranian media, the subsequent “rugby scrum” of trading activity does demonstrate with brutal clarity…
… Read moreEnergy OverView March 1, 2012
Competing interpretations of economics and politics moved prices across the landscape yesterday as successive headlines favored one camp, then the other. In the end though, participants favored security, as prices finished closer to the day’s high than the new lower mark of 104.84.… Read more