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Thomson Reuters July 12 Energy Commentary

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July 12, 2012

THURSDAY, JULY 12, 2012

SECTOR COMMENTARY

Oil and gas stocks recovered a portion of its earlier session’s losses in the last few hours of trading as commodities rebounded to close higher following the U.S. Treasury Department’s announcement of more sanctions against Iran’s nuclear programs. On the domestic front, the weekly jobless claims numbers which declined to 350K in the prior week implied strength in the labor market and the U.S. budget deficit narrowed as tax revenues rose by 3% from the prior year.    

The S&P Energy sector closed the ...


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