The Old Farmer's Almanac had it right last winter and their woolly caterpillars and other things they use to predict weather will send chills down your spine. They are predicting a “super cold “winter in the eastern two-thirds of the country.
Any reduction in the geopolitical risk premium allows the market to focus on ample supply and questionable demand. Reports that Libyan rebels claim that a deal to reopen Libyan oil ports added to the bearish sentiment.
U.S. efforts to speed natural gas exports as a way to loosen Russia’s grip on European energy supplies may be thwarted by lengthy reviews and developer reluctance to proceed with multibillion-dollar projects.