Energy Bulls In Control
Despite a mixed global equity market environment overnight, predictions that January OPEC plus compliance fell to 85% (versus 99% in December) and higher dollar action crude prices this morning are showing upside traction with a 3-day high.
We attribute the strong start in natural gas prices this week to short covering but it-would-appear that the market is getting some fresh buying interest this morning off news that “Buyers waiting for floating supply” increased by 16% on the week.
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