Energy OverView August 8, 2013

Crude oil fell, yesterday, along with most asset classes. The primary driver, late in the day, were comments on the wires from the Cleveland Fed President, who basically asserted that a September start to the tapering of asset purchases by the Fed was likely, due to much stronger employment growth than she had forecasted. There were other factors that also combined to pressure prices lower, including a modest decline in US crude oil inventories…