News Headline Summary

ENERGY WRAP - US Crude futures settle at USD 84.44/BBL, down USD 4.27 or 4.81%

WTI and Brent crude futures both lost more than USD 4.00 in today's session as risk appetite disappeared post the US elections. The fiscal cliff now looms large on the horizon and this uncertainty has been evident particularly in the energy complex as WTI witnessed its biggest intra-day decline in a year. The DoE inventory data also provided momentum to the downside as gasoline and distillate components both showed build compared to expected drawdowns and US oil production is also running at highs last seen in 1994.

07 Nov 2012 - 20:37 - - Source: RANsquawk

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