Market Insights

May 19, 2016 • Posted in Market Insights

Week of May 16, 2016

  • WTI and Brent prices ended the week roughly even with last week despite concerns over the impact of forest fires on Canadian production and another increase in US crude stocks
  • IHS expects supply/demand balance in the third quarter
  • Changes in crude oil futures structures is an indication of tighter markets
  • The end of refinery turn-arounds and beginning of summer driving season is expected to firm up third quarter gasoline and crude oil demand
  • Crude oil price forecast is up with third quarter Brent prices averaging $50.0/bbl
  • Some weakness is expected in the fourth quarter with Brent averaging $46.0/bbl

 

WTI Crude Oil & Brent Crude Oil 05162016

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