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NASDAQ OMX: January 15 Energy Commentary

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Thomson Reuters
January 15, 2014


Oil and gas stocks closed mixed on the day with refiners experiencing the largest declines after today’s bearish inventory report which showed higher than anticipated builds in gasoline supplies and on profit-taking ahead of earnings.

WTI closed at $94.17 up $1.58 or 1.71% after government data showed a larger-than-expected drop in inventories while gains in Brent were capped by expectations for increased Iranian and Libyan supply. The rally was exacerbated by the nearing expiration of both oil contracts which forced traders to buy contracts and cover positions.

Henry ...

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