Oil prices were mostly flat for the day in a relatively quiet session. Both benchmarks ended last week lower after bearish Chinese data implied weaker demand in the world’s leading crude importer. At the same time, oil investors seemed to overlook geopolitical conflict that was initially seen as tightening global crude supplies. “It seems that the Middle East conflict is not high on the list of driving forces of investors, as it has not led to meaningful supply disruptions,” said Tamas Varga of oil broker PVM. U.S. job growth accelerated in February, but a rise in the unemployment rate and moderation in wage gains kept the anticipated June interest rate cut on the table. U.S. inflation data is due on Tuesday. WTI traded down $.08 to close at $77.93. Brent traded up $.13 to close at $82.21.

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stampede
swars
  • Where: Moody Gardens Hotel and Convention Center
  • Attending: Curtis Chandler (239.405.3365) David Cohen (954-729-4774)
  • Conference Website