Energy OverView April 4, 2013

It was another mixed day for WTI crude, yesterday; prices were lower, before finishing basically unchanged. Prices are clearly struggling, and $98 is proving difficult resistance once again. The US economic outlook remains positive enough that a run to $100 is likely, but swelling crude oil supplies are pushing back against that view. It is interesting that a pipeline rupture is now a bearish event for the market.