Market Insights

June 28, 2016 • Posted in Market Insights

Week of June 20, 2016

  • Oil fell back under $50/bbl despite a drop in crude and gasoline inventories
  • Resumption of Western Canada supply and increased supply out of the Middle East were key drivers
  • Uncertainty over the June 23 referendum that may lead to a British vote to exit the EU also had an impact due to concerns about European demand if Britain leaves and a likely strengthening of the US$ vs. the Euro
  • Natural gas prices were slightly lower at $2.58 per MMBtu NYMEX, as demand remains weak in advance of the summer cooling season

 

WTI Crude Oil & Brent Crude Oil 06202016

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