The EIA released its latest Short Term Energy Outlook report. The forecast was overall supportive in that they increased their demand forecast while lowering their supply projections including the United States. Here are the highlights.
Despite their recent underperformance, David H. Smith, senior analyst with The Morgan Report, remains bullish on precious metals, especially silver and palladium, as the "love trade" heats up and the global economy adds more debt to the system.
Crude oil prices were mixed with Brent ending Tuesday’s session lower while the spot WTI contract was able to hold onto a small gain. In a market that remains dominated by bearish fundamental data points the crude oil markets have been in a short term uptrend since the middle of March.