After rallying most of the week, oil prices are under pressure this morning, likely due to profit-taking, but also a decided “risk-off” day. We don’t care for that moniker, but it does make the point in succinct fashion. Energy prices continued to rally this week on strong winter fuel demand. It appears that OPEC output fell last month, with Saudi Arabia being a large part of it, which is supportive.
Energy Overview — TotalView™ of the Energy Markets