Oil & Gas
Crude oil, natural gas, NGLs, LNG and refined products — the markets that move producer revenue.
Bakken Clearbrook Prices Surge on Supply Disruptions; DAPL Hearing Looms
Since mid-February, Bakken Clearbrook prices have rallied into positive territory versus WTI for the first time since April 2020. Weather-induced supply di...
· AEGIS Market Analytics2 min read
WTI Curve Close To Steepest Backwardation In Past 15 Years
The near-term WTI contract at $65.80/Bbl is $6.8/Bbl, or 11%, higher than WTI one year from now. A backwardated curve can mean that oil is in higher deman...
· AEGIS Market Analytics1 min read
Producer 2021 Guidance Implies Nearly Flat Oil Production
The theme of large oil independents and supermajors for 2021 is to keep production flat, pay down debt, and create more free-cash flow. For a sample of lar...
· AEGIS Market Analytics2 min read
2021 Gas Market Is Least Supplied of Last Four Years
This year's gas market may be tighter than many realize. So far this winter, we have been depleting inventories at a rapid clip, despite the mild weather i...
· AEGIS Market Analytics2 min read
U.S. Production Could Rise 1 MMBbl/d. OPEC Knows This.
A six-dollar rise in 2022 and eight-dollar rise in 4Q2021 WTI prices suggest production could surge by near 1 MMBbl/d by 2023. That is, if operators'…
· AEGIS Market Analytics3 min read
February Weather Helps End-of-Season Storage Get Back on Track
AEGIS now expects summer storage to start under 1,500 Bcf, the lowest in the last eight years, except for 2014 (polar vortex) and 2019.
· AEGIS Market Analytics2 min read
Saudi Arabia Teases Output Increases As Brent Nears $65
Saudi Arabia plans to unwind 1 MMBbl/d of supply cuts starting in April.* The action would end the 1 MMBbl/d of unilateral curtailments the country announc...
· AEGIS Market Analytics2 min read
Frigid Temperatures Cause 5 Bcf/d of Freeze-offs
Widespread cold throughout most of the central U.S. has caused freeze-offs at the wellhead. The sharp drop in production totaled over 5 Bcf/d as of Febru...
· AEGIS Market Analytics1 min read
EIA, IEA, OPEC Marginally Cut 2021 Demand Growth Estimates, but OPEC+ Firmly in Control of Oil Markets
The three major agencies (EIA, IEA, OPEC) released their monthly reports this week, and each marginally cut 2021 worldwide demand growth estimates from the...
· AEGIS Market Analytics2 min read
Update* - DAPL Still In Limbo As New Administration Takes Office
*UPDATE 2/11/2021 The Army Corps of Engineers requested a two-month delay on whether to shutter DAPL Analysts at ClearView Energy partners see the d...
· AEGIS Market Analytics4 min read
Cushing, PADD 3 Stocks Decline As Refineries Soak Up Crude in January
Crude inventories at Cushing have decreased by over 10 MMBbls or 300 MBbl/d during January, while PADD 3 (Gulf Coast) inventories also declined by 12 MMBbl...
· AEGIS Market Analytics2 min read
OPEC Committee Discusses Policy As WTI Breaches $55/Bbl
The OPEC Joint Ministerial Monitoring Committee (JMCC) and Joint Technical Committee met this week to review global oil fundamentals and the best path to r...
· AEGIS Market Analytics3 min read
Strong Prompt Dominion South Basis; Weakness Further Down The Curve
Near-term basis in Southwest Appalachia, such as Dominion South (Dom S), have rallied while most of Cal 2021 and 2022 have continued to falter. Weakness…
· AEGIS Market Analytics2 min read
U.S. LNG Landscape And Utilization Possibilities
Natural gas flows into U.S. LNG facilities have been running at record highs this winter LNG has been the biggest source of gas demand in the U.S.,...
· AEGIS Market Analytics1 min read
Gas Demand Threats From Renewables
Natural gas demand from the power sector has been on a long-term growth path as gas has displaced coal Record new solar and wind capacity additions...
· AEGIS Market Analytics1 min read
Biden Signs Executive Order Barring a Key Permit for The Keystone XL Pipeline
On inauguration day, incoming-president Biden issued a flurry of executive orders, chief among them being the revocation of a key permit for the…
· AEGIS Market Analytics2 min read
Another Setback for Mountain Valley Pipeline: Northeast Basis Prices React in 2022+
A surprising split vote by FERC on Tuesday further pushes out the likely start date of the 2.0 Bcf/d outbound pipeline from West Virginia beyond 2021On Tue...
· AEGIS Market Analytics3 min read
Record High LNG Prices In Asia and Eye-Popping Shipping Costs
Liquefied natural gas prices in Asia have hit new records on heating demand, power demand, and high shipping costs. Do you need to book an LNG vessel? We...
· AEGIS Market Analytics3 min read
Natural Gas Supply-Demand in 2021: EIA's STEO Report Underscores a Tightening Ahead
U.S. Energy Information Administration (EIA) forecasts much higher natural gas prices will be required to keep the market in balance.Let's take
· AEGIS Market Analytics2 min read
Propane's Improving Outlook: Large Rally in Prices From Step Change in Export Demand
Producers can lock in the strength in propane prices but should stick to the front of the curve.Propane prices haven't suffered the warm-winter blues…
· AEGIS Market Analytics3 min read
Capacity Additions Push January Waha Prices Positive
The prompt-month Waha contract has gone positive for the first time since December 2015. The recent spike in pricing shows the effect of the new Permian…
· AEGIS Market Analytics3 min read
The (WTI) CMA Roll: 2020's Wild Round Trip
The WTI CMA Roll, a contributor in most producer pricing formulas, can now be opportunistically locked in, once again. The WTI Calendar Month Average Ro...
· AEGIS Market Analytics1 min read
Horrible Day in Natural Gas
The recent price path in natural gas shows that today's trading took values away from a key level that may be important in the near future. In the spirit...
· AEGIS Market Analytics2 min read
Logical Hedge Weekly TLC Update For December 21, 2020
Dear Client, If you missed the news on Friday, R^2 has been acquired by AEGIS Hedging Solutions. We are optimistic that the only changes you'll notice is...
· AEGIS Market Analytics1 min read