Energy Futures

DOE numbers yesterday caused crude market to swing but remained within the range $75/bbl and $73,50/bbl to finally close almost unchanged in for the day.

The Gasoline draw was the biggest surprise and came out negative 3164k vs 0k change expected.

The Rome summit came out as an non-event where no clear decisions how to solve the ongoing Israel/ Lebanon based Hezbollah conflict were taken this increased once again fears for escalations in the conflict involving both Iran and Syria further.

As it seems a certain war risk premium already priced in current levels and only an escalation of the conflict should trigger levels above current resistance levels arr $75/bbl.

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