Central Valley Cooperative

Energy – steady to higher as the dollar fades, euro firms – Greece failes to agree – Syria bomb Homs – Natgas reports today. March crude oil is trading +$0.60 per barrel higher to $99.31 compared to $99.46 yesterday at this time. The market remains positive as the dollar fall against the euro. The optimism for Greece to solve their debt problems has global equities firming. As of this morning, the Greek’s have failed to ratify the EU agreement as pension remains a key issue. EU Central Bank makes another interest rate decision today. A weaker dollar and firming equities is supporting energy markets even though consumption in the U.S. is sliding lower. Yesterday’s energy stocks report calmed the market as distillate and gasoline demand remains in the cellar. In fact, product demand is at 13 year lows.