Energy OverView February 3, 2012

Growing stockpiles and numbers of initial filers for unemployment benefits every week is not producing a lot of confidence for offsetting demand. The non-farm payrolls report, later this morning, will have to be considerably beyond expectations to reverse the market’s growing downward momentum. In fact, if it were not for lingering tension over Iran tension, prices might be even lower. $95.00 crude oil and $3.50-plus gasoline can not possibly part of a foundation upon which a robust recovery can be built.