News Headline Summary

ENERGY WRAP - US Crude futures settle at USD 89.28/BBL, up USD 2.36 or 2.72%

WTI and Brent crude futures settled in positive territory as investors risk appetite increased on the back of Friday’s encouraging news from Obama and congressional leaders regarding the fiscal cliff and hopes that tomorrow’s Euro-group meeting will provide a move forward in the Greek debt situation. Also contributing towards risk appetite was the continuing Israel-Gaza conflict that shows little sign of abating.
Natural Gas was the only under-performer in the energy complex following the news from BP of a 1trl cubic feet gas discovery offshore in Trinidad. Nat Gas futures for December expiry are expected to roll over into January contract shortly and we have seen some adjustment in position.

19 Nov 2012 - 19:36 - Energy - Source: RANsquawk

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