Energy

10:30 update on energy

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Brent above $60 for first time in 2 years  as momentum carrying prices higher and higher.A couple of secondary reasons  for move higher are prospect for further Oil production cuts  from OPEC ,Iran  refinery fire which may cause a short term hiccup in gasoil supply  thus  driving the gasoil crack higher by 5% today. I still beleive it is just Momentum as the general cause for higher prices.Natural gas in Full liquidation mode as November contract expires today and End of winter spread touches a new contract low,Not negative yet  but approaching Zero quickly.11:00 London close may see a slow down in activity.

 

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