Market Insights

March 29, 2016 • Posted in Market Insights

Week of March 28, 2016

  • Oil hovered around the $40/bbl mark last week.  News that OPEC and non-OPEC members (notably Russia) are meeting on April 17 to discuss production cuts was offset by news of growing inventories and refinery production cuts in the U.S.
  • FORBES magazine published an interesting article suggesting that Saudi Arabia will keep prices at or below the $40/bbl level to prevent Russia and Iran from funding destabilizing groups that threaten its regime.
  • Natural gas prices fell to $1.80 per MMBtu NYMEX mid week and are expected to remain bearish due to weak heating demand and high inventories.

 

 WTI Crude Oil & Brent Crude Oil 03282016

 

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