Trading markets are closed today, in observance of President’s Day and many of propane’s market makers are attending the annual OPIS meeting. This doesn’t mean that world events are taking the day off, however.
Events on the Russia-Ukraine border are tense. Russia is claiming that Ukraine forces attempted to cross the border into Russia, and five were killed. Ukraine is denying that any such attempt was made and is blaming Russia for a misinformation/false flag tactic.
It doesn’t make much sense that Ukraine would try to…you know…invade Russia?
You also have Russian President Putin convening a meeting with his security counsel to consider recognizing a separatist territory in eastern Ukraine. British intelligence suggests this is all a part of Putin’s invasion plan playing out in real time.
Regardless, all eyes are on this powder-keg and what takes place today could have a huge impact on where crude prices and energy values as a whole go tomorrow. The Russian stock market was down sharply today.
On the weather front, BAM will be back tomorrow with a comprehensive report. The image above is from NOAA, released yesterday, so it’s looking like the colder than normal to end February for much of the eastern half of the United States is still in the cards.