OGJ Newsletter

Market MovementConflicting inventory reports undermine energy futures pricesDespite severe winter storms across much of the US, energy futures prices continued to fall through Jan. 28, largely because of conflicting government and industry reports on US inventories of crude and petroleum products.The March contract for benchmark US light, sweet crudes lost 35¢ to $34.12/bbl Jan. 27 on the New York Mercantile Exchange, as traders' expectations of a bearish build in US inventories of crude and petroleum products from historic lows outweighed forecasts of a major snow storm in the Northeast. Instead, the US Energy Information Administration reported Jan. 28 that commercial US oil in...

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