Market Insights

March 24, 2017 • Posted in Market Insights

Week of March 6, 2017

  • Oil slipped with Brent off $0.09 to $55.90/bbl and WTI off $0.66 to $53.33/bbl
  • Global oil executives met in Houston for the CERAWeek conference
  • Oil is up about 70% since last year’s conference but the uplift has stalled
  • The meeting may be tense as a sharp increase in US output is threatening the Saudi-led deal to reduce the global oil surplus
  • Natural gas stayed almost flat at $2.83/mm BTU (NYMEX) as mild weather reduced heating demand and kept gas inventories well above the 5-year trend

WTI Crude Oil & Brent Crude Oil 03062017

 

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