Oil: St. Valentine brings affection – TDS

There are some risks to be dealing with it yet but energy markets are taking a relaxed St. Valentine’s day, according to analysts at TD Securities. Brent is rising 1.50% today up to $57.40.

Key quotes

“Energy markets are taking a breather following the sharp correction, but numerous risks remain.”

“President Putin has yet to signal his potential support for an additional OPEC+ curtailment, while the Libyan conflict presents another avenue for more barrels to return to market.”

“CTAs could be adding a marginal bid in Brent crude as prices remaining above $56/bbl imply short-covering in response to the lack of a strong trend.”