Central Valley Cooperative

The energy complex is trading lower as are global equities and the U.S. dollars. The market was spooked yesterday with surprisingly poorer U.S. manufacturing numbers which pushed the oil market down from the highs early in the session. JPMorgan states that the failure for Washington to fix the Fiscal Cliff situation could cut global oil demand nearly in half next year. Australia cuts interest rates to 3 year lows as economic outlook looks mixed. Energy markets are down 2 to 3 cents on the products this morning.