Energy prices continue to remain broadly weak, with WTIC Oil settling Tuesday -1.2% @ $43.20, whilst Nat' gas +0.7% @ $2.09 (intra low 1.95). There remain underlying over supply issues for Oil and Gas, and it would seem that problem won't be resolved for much of next year either.
Nat' gas, weekly
*despite the net daily gain, Nat' gas saw the lowest intraday level since April 2012.
Suffice to add, lower energy prices are going to continue to help the US/world economy.
It continues to bemuse me how some of the doomer econ/equity bears will tout 'see...the market is not breaking new highs.. despite lower oil prices'.. or 'retail sales remain weak'.
Yeah yeah.. I've heard it a thousand times.
Q. Do you think retail sales are going to do better with $100 oil ? .. because logically, that appears to be the mindset of some out there.
Wed' will see the latest EIA oil report.. but far more important.. the latest FOMC.
There is a policy announcement due at 2pm... there will NOT be a press conf.
Goodnight from London