Markets

Mid-Session Energy Market Report for 11/18/2010

There appears to be a number of factors at work fueling the price advance across the energy complex this morning. The primary reason stems from a possible resolution to the Irish debt situation, which has inspired a 'risk-on' mentality in many physical commodity markets. The US Dollar is trading lower as a result, and that also seems to be lending some support to the complex. Traders indicated that this morning's performance in RBOB appears to be leading its peers and has even been able to overcome the high price marked during Tuesday's sell off. This morning's EIA natural gas storage report showed an injection of 3 bcf, which was within in the lower range of expectations. Total storage stands at 3,843 bcf or 9.3% above the 5 year average. Natural gas prices had a knee-jerk reaction higher after the report, but that was followed by a decline into new low territory for the session.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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