Energy OverView March 12, 2013

Oil prices are moving higher this morning, partly on a mixed bag of fundamental news. OPEC reported an increase in its oil production, and North Sea production continues to rise. Offsetting that bearish news, China’s implied energy demand rose 4.9% in February to the fourth highest on record. The currency-effect is also on full display again. The dollar had been rallying overnight, but took a decided turn around 8:00AM new York t