Market Insights

December 1, 2015 • Posted in Market Insights

Week of November 30, 2015

  • Crude pricing was volatile last week with prices rallying early in the week only to fall again on Wednesday.
  • Early last week prices were supported when the Saudi oil minister stated that OPEC would help stabilize the market.
  • Later in the week the U.S. Energy Information Administration (EIA) reported a further build of nearly 1 mm. bbl in U.S. crude stocks and only a small decrease in U.S. crude production, which combined to offset any optimism around potential OPEC action.
  • Brent traded on the weekend at just under $45/bbl while WTI traded just under $42/bbl.
  • Natural gas prices are falling as stocks build due to mild weather, reducing feedstock costs for polyolefins.

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