Energy Market Preview by Trade the News

Discussion in 'Trading' started by TradeTheNews, Feb 20, 2007.

  1. TradeTheNews

    TradeTheNews ET Sponsor

    - A major wire misreported comments by the Iranian President this morning, quoting him as having said that Iran's nuclear enrichment will be halted. He did make those comments but under the condition that the West halts its own uranium enrichment. Also regarding Iran, the FT reported this morning that the head of the IAEA, El Baradei, said that Iran will be able to enrich uranium on an industrial scale within six months. He also said that Iran is likely to miss a U.N. deadline tomorrow to suspend uranium enrichment. El Baradei is to meet with Iran's top nuclear negotiator, Larijani, today before issuing his report on Iran to the U.N. tomorrow.
    - The EIA will release its weekly inventory data on Thursday this week because of the President's Day holiday yesterday.
    - On the weather front, Accuweather wrote on its website today that the recent cold spell across the Northeast will finally ease today as mild air from the southwest pours overhead.
    - At 8:15 a.m. crude futures are down $0.37 at $58.14.