ENERGY RECAP FOR Friday, December 9, 11
Crude Oil … +1.07 99.41
Natural Gas… -.140 3.317
Gasoline… +.0295 2.5961
Brent Crude… +.51 108.62
Prices as of 18:13
The U.S. Commerce Department reported that the trade deficit shrank 1.6 percent to $43.5 billion on Friday, the fourth straight monthly decline, due to Americans purchasing fewer foreign cars and importing less foreign oil. In fact, oil imports were down five percent and imports, as a whole, were down one percent. Exports were fell to $179.2 billion, a downsize of .8%.
Oil prices had an up and down day as it bounced off of U.S.news, European Union news, and Chinese investment news. China announced a $300 billion investment in both the U.S. and Europe while it’s industrial production numbers came in lower than expected.
EU leaders came to an agreement, albeit one that many believe is not “final” nor “comprehensive” and does not involve the U.K.’s participation. The agreement and lack of finality left investors with still some worry that things could fall apart before it is all said and done.
OPEC leaders are scheduled to meet Wednesday in Vienna to discuss production quotas, which were unable to be agreed upon last meeting.