Energy Market Preview

Discussion in 'Trading' started by TradeTheNews, Feb 23, 2007.

  1. TradeTheNews

    TradeTheNews ET Sponsor

    Energy Market Preview by Trade the News Staff

    - Following the release of the IAEA report yesterday, which said that Iran has not suspended uranium enrichment activities, the five permanent member of the U.N. Security Council and Germany are preparing to meeting in London next Monday to start work on a new resolution to try to pressure Iran to halt its nuclear program. Germany's Chancellor, Merkel, said a short while ago that the door to talks is open with Iran, but the IAEA report showed that Iran is not meeting its nuclear obligation. Iran's President said earlier today that “The Iranian nation has resisted all bullies and corrupt powers and it will fully defend its rights.”
    - As a sign of the continuing violence in Nigeria, a Lebanese engineer was shot dead on the outskirts of the oil city of Port Harcourt.
    - On the weather front, Accuweather wrote on its website today that the storm that brought heavy mountain snow, welcome rain and thunderstorms with hail to California Thursday will continue to near the Plains today. By Saturday, the storm will have developed into a major late-winter storm over the country's midsection, complete with a widespread severe weather outbreak, blizzard conditions and potentially flooding rain. Meanwhile, strong and frigid winds will blast the Northeast today.
    - At 8:10 a.m. crude futures are up $0.08 at $61.08.