With a slightly positive Asian economic tone overnight, partially enhanced by positive economic vibes from Japan, the energy trade has seemingly discounted lingering fears of US fiscal cliff turmoil. In fact, news that Japanese jet fuel imports for the month of January might have reached the highest level in two years, has to be seen as a fresh positive energy demand story.
However, as in the US equity markets, there seems to have been a recent pattern of "hope" that a US deal will ultimately be seen and with the President returning from vacation early, could be a very telling sign.
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