The energy complex settled lower after a day of choppy trading with economic concerns eventually outweighing sensationalist reports of violence in the Middle East. Downside pressure arose from the earlier report that US domestic oil production reached 6.61mln BPD last week, the highest level since May 1994. The other issues dampening investor’s appetite for risk assets were weak US unemployment data in the aftermath of Hurricane Sandy and poor Eurozone data failing to provide markets with a much needed boost.
15 Nov 2012 - 21:34 - - Source: RANsquawk
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