Market Insights

October 20, 2016 • Posted in Market Insights

Week of October 17, 2016

  • Crude prices rose last week but dropped Friday on skepticism OPEC and will be able to reach agreement in November on a deal to cut output
  • A 7th weekly US rig count increase, a build of 4.9 MM bbl in US crude stocks, and a drop in refinery operating rates helped keep a lid on prices
  • Natural gas prices moved above $3.30 per MMBtu NYMEX last week as inventory build slowed and production forecasts were lowered, while demand is now being forecast above prior-year levels

 

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