Market Insights

April 25, 2017 • Posted in Market Insights

Week of April 17, 2017

  • WTI moved up as U.S. crude inventories fell by 2.2 MM bbl (largest drop this year) on high refinery run rates in advance of the U.S. driving season
  • Brent moved up only slightly, narrowing the gap between Brent and WTI
  • Goldman Sachs is maintaining its outlook for oil prices to return to long-term stability at $50/bbl with price fluctuations in the range of only 10% to 20%
  • OPEC continues to target $60/bbl or above while IHS sees mid-$50/bbl prices
  • Lower heating demand drove the Henry Hub natural gas spot price to fall from $3.21 per MMBtu last Wednesday to $3.08 per MMBtu this Tuesday

 

WTI Crude Oil & Brent Crude Oil 04172017

 

 


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