Energies Update
Energies sold off sharply following weak Jobless Claims data. Crude had tumbled from 91.50 before the release, then went under 90.00, down almost 2.5% on the session.
The drop comes despite news of supply constraints, including OPEC jawboning and the closure of the Houston Shipping Channel. Gasoline is also lower, dropping over 3% to near just above 226. Heating Oil has fallen over 2.75% to trade near 247.75.
EIA Natural Gas Storage fell 274 bcf this week, its largest drop ever. Despite this 10% loss in inventories Natural Gas is lower by over 0.5%.