Market Insights

September 9, 2016 • Posted in Market Insights

Week of September 5, 2016

  • Oil prices fell sharply last week on continued growth in US stocks of oil and distillates
  • Saudi Arabia engaged Russia in talks on production cuts over the weekend, causing a price rebound
  • Many market participants are skeptical a production freeze will be agreed as Iran has consistently refused to cut output and others fear losing market share to Iran
  • Natural gas prices moved up slightly to $2.88 per MMBtu NYMEX on concerns that severe storms in the US Gulf Coast may cause supply disruptions

 

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