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Thomson Reuters July 5 Energy Commentary

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July 5, 2012

SECTOR COMMENTARYThe energy sector finished the day lower, led by the E&Ps and services, after oil prices declined following the interest rate cut by the European Central Bank to a record low and commentary that “downside risks to the euro-area economic outlook have materialized.” While the interest rate cut is a positive for oil, the upside in commodities was offset by the stronger dollar. Additionally, the U.S. weekly crude inventories data indicated a sharp decline due to import disruptions following Tropical Storm Debby. Integrateds declined the least.WTI crude declined $0.44 ...


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