The Energy Information Agency shocked the market by reporting that U.S. Crude supply increased by 6.7 million barrels putting supply at the highest level in 82 years. So much for that uptick in gasoline demand.
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.
Stimulus from China vs. concerns about Europe is creating a tug-o-war across the commodity complex. WTI oil prices also seem to be losing their relationship to the Brent crude as Middle East tensions are heating up.