Energies Close
Crude came under heavy selling pressure after a decent start to the session, losing almost 4%. Crude’s sell-off is likely the culmination of USD strength, expectations for a build in EIA Crude inventories, the resolution of supply disruptions in Iraq after the pipeline attack last week, and fears that demand may slip in the US.
Gasoline finished lower as well, dropping over 3% while Heating Oil managed to lose just 2%. Natural Gas, however, was well-bid gaining 2.45% to move back above the 10.00 handle.