Market Insights

May 4, 2016 • Posted in Market Insights

Week of May 2, 2016

 

  • WTI and Brent crude climbed to roughly $46/bbl and $48/bbl respectively on Thursday despite reports of continuing growth in crude and gasoline stocks.
  • Some of the movement was caused by weakening of the US dollar as the Fed announced interest rates would remain unchanged at least through June.
  • There also appears to be sentiment in the market that non-OPEC crude oil production rates have peaked will begin to fall.
  • Natural gas prices remain weak at around $2.07/mm BTU NYMEX as inventories continue to rise and forecasts point to mild weather.

 

WTI Crude Oil & Brent Crude Oil 05022016

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