Market Insights

July 28, 2016 • Posted in Market Insights

Week of July 25, 2016

  • Oil peaked in June and is down in July following a pattern set in 2015.
  • Production is declining very slowly, (last week there was a small increase in the US rig count) and demand in China has softened
  • Inventories remain high.  Recent weeks have seen an increase in floating (tanker) storage and hedging by production and exploration companies, a sign that these companies see risk of falling prices.
  • Natural gas prices increased slightly to $2.69 per MMBtu NYMEX on expectations of hotter weather across the U.S.

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