Energy Prospectus

Oil Rises After API Reports Larger Than Expected Crude Draw

WTI jumps over $58/bbl this morning.

S&P futures are trading above fair value amidst a higher session in Europe and a lower close in Asia overnight. The latest trade headline comes via Bloomberg, suggesting US-China moving closer to a deal despite heated rhetoric. Elsewhere, focus on services sector PMIs, with Eurozone beating consensus amid more signs of stabilization in German economy. Political developments outline German SPD not looking to end grand coalition and UK election polls show Conservatives consolidating lead after recent upturn in Labor suppo

Closing prices;

WTI prompt month (JAN 20) was up $2.33 on the day, to settle at $58.43/Bbl.

In contrast, NG prompt month (JAN 20) was down $0.042 on the day, to settle at $2.399/MMBtu.