As i wrote earlier today the energy market is currently caught up between the outlook for increased supplies from Libya and rising US inventories on one hand and the Ukraine crisis on the other. Today focus on the latter has taken both crude oil higher by 1 percent as additional sanctions against Russia and new unrest in East Ukraine has attracted most of the attention.
Soybeans and corn both trading higher with the bull spreads between old and new crop widening on both as old crop prices receives most of the attention.
Gold remain rangebound and is back to 1300 USD/oz after finding support at 1287 earlier today. Just like oil the precious metals are torn between focusing on upcoming US data/events and geopolitics.