Energy OverView September 7, 2012

NYMEX October WTI reached session highs early on, supported by upbeat US economic data and more details of an ECB bond buying program. EIA crude stocks slipped by a larger than expected 7.426MM bbls last week, their lowest level in five months, but the hefty draw was attributed to supply disruptions in the wake of Hurricane Isaac. ADP Employer Services issued a rosy report on US labor prospects, hopefully a harbinger of a confirming report…

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