The oil market cheered GDP as it already was supported by old man winter. Led by heating oil and gas increases on refinery glitches and winter woes, WTI gained as the emerging market challenged the Brent crude contract.
The decision by Warren Buffett’s utility company to order about $1 billion of wind turbines for projects in Iowa shows how a drop in equipment costs is making renewable energy more competitive with power from fossil fuels.
We might just have a summer driving season after all. The EIA shocked the market by reporting that American responded to the dramatic two-week drop in gas prices by topping off their tank in the biggest weekly jump in gas demand since before the Thanksgiving Day holiday
Natural gas broke out above $4.00 in decisive fashion as the trade seemed to embrace the fact that Goldman Sachs has upped their natural gas forecast and catching up with the bottom that I called in January.