Oil & Gas
Crude oil, natural gas, NGLs, LNG and refined products — the markets that move producer revenue.
Permian Supply Continues to Grow Amid Brownfield Expansion
Permian dry gas production has continued to grow, contributing to the Lower 48 supply hitting new records. At the same time, Waha prices have been weaker…
· Jay Stevens3 min read
Winter Weather Scenarios Show Risk to Summer 2024 Gas Prices
Weather is the largest source of variability in gas storage balances and will play a big role in determining where the withdrawal season ends A signific...
· Christian Drolshagen2 min read
Geopolitical Risk Premium Returns to The Oil Market
Oil futures gapped up on Sunday afternoon trading in response to the sudden, escalated conflict between Hamas and Israel over the weekend. Traditionally, ...
· Rishi Rajanala3 min read
Propane Is Weak, But Crude Oil Could Provide Lift
Propane prices weakened in the second half of September on the back of declining crude oil prices. Propane’s supply and demand dynamics remain weak, ...
· Jay Stevens3 min read
Can Global Refining Capacity Keep Up With Growing Oil Demand?
The global refining complex is walking a fine line with available capacity as global oil demand surges. The widening gap spells trouble, threatening to dri...
· Rishi Rajanala3 min read
Hurricane Season's Potential Impact And Typical Hedging Practices For Gulf of Mexico Producers
The NOAA has revised its 2023 Atlantic hurricane season forecast to
· Rishi Rajanala3 min read
How Good/Bad is Your Costless Collar?
Have you ever asked that question? How good or bad is the costless collar I just priced? We have a way of providing historical reference when it comes to o...
· Jay Stevens2 min read
Rising Jet Fuel Prices: A Challenge to the Aviation Industry's Recovery
Demand Recovery The first half of 2023 has been promising for the aviation sector. Jet fuel consumption soared to an average of 5.9 MMBbl/d from January t...
· Rishi Rajanala3 min read
Transmountain Pipeline Expansion and Impacts on Canadian Crude Differentials
The Transmountain expansion will significantly increase the amount of egress capacity out of Western Canada when it comes online in 2024 WCS differentia...
· Christian Drolshagen4 min read
How Will US's LNG Growth Affect Natural Gas Demand and Prices?
The US currently has 14 Bcf/d of peak LNG export capacity in operation, an additional 11.2 Bcf/d under construction or with limited construction already co...
· Rishi Rajanala5 min read
Hedge Ethane To Capture Premium To Natural Gas
Price strength has opened an opportunity to hedge ethane (July 2023). If you have exposure to ethane and gas, opt to hedge ethane. Ethane is currently pri...
· Jay Stevens3 min read
WTI Flips to Backwardation for First Time Since May
The WTI crude market has shifted into backwardation for the first time since May, signaling tighter supply. Prompt WTI is trading higher than in later mont...
· Rishi Rajanala2 min read
Is the Oil Market Poised for a Shake-Up as OPEC Cuts Deepen?
July 7, 2023 - At the beginning of the year, two factors were on every crude analyst’s mind – the impending loss of Russian supply and China&...
· Rishi Rajanala3 min read
Houston Ship Channel Basis Post-Freeport LNG Restart: What's the Future?
Natural gas prices in the Houston Ship Channel (HSC) area have tightened significantly versus Henry Hub year-to-date. The return of Freeport LNG just south...
· Jay Stevens3 min read
Can Saudi's Unilateral Cuts Deepen Oil Market Deficit in 2H2023?
Saudi Arabia's recent announcement of a unilateral production cut of 1 MMBbl/d for July, in addition to OPEC+'s extended cuts through December 2024, may wo...
· Rishi Rajanala3 min read
MVP Pipeline Greenlit: Why it's Not the Market Bear We Feared
More Appalachian gas egress may not be as bearish to Henry Hub as initially thought. The long-delayed 2 Bcf/d Mountain Valley Pipeline (MVP) was singled ou...
· Jay Stevens3 min read
Winter Weather Scenarios Show Risk to 2024 Gas Prices
Modeling of different winter weather scenarios shows the need for much cooler than normal weather to balance the gas market Winters have consistently tr...
· Christian Drolshagen2 min read
Wildfire Impact on Canadian Oil and Natural Gas
Fires have greatly reduced oil and natural gas production in Alberta Production volumes have recovered slightly, but weather forecasts indicate fire-rel...
· Christian Drolshagen2 min read
AECO Gas Basis Outlook
AECO Outlook With AECO basis trading at one of the highest relative values in recent years, we view this as an attractive point to add basis hedges. Hedge...
· Christian Drolshagen3 min read
From Record Rain to Hydropower Gain: California's Shifting Energy Mix
Record levels of rain and snow have reversed two years of significantly dryer-than-average conditions in California. This is setting up a major comeback in the state's hydroelectric generation, which has already surged to multi-year highs.
· Christian Drolshagen4 min read
Russia's Export Resilience May Falter as Signs of Trade Clogging Emerge
Fuel volumes in floating storage at record highs since 2016, posing a significant threat to Russia's oil exports and crude processing, in addition to the l...
· Rishi Rajanala2 min read
Freeport LNG Flows At Highest Level Since Explosion
The Freeport LNG export facility has been closely watched by market participants since a fire took the plant offline in June 2022. While Freeport initially...
· Christian Drolshagen2 min read
New Fuel Regulations Threaten Fuel Fungibility and Price Discovery
New renewable-fuel regulations and an all-or-nothing push for E15 sales could threaten fuel fungibility, increase costs, and upend the world's most mature ...
· Zander Capozzola4 min read
Gas is now down $1.22 since Friday. Take action?
NYMEX natural gas was down $1.22 in two days, touching $5.32 this morning. Has it found support this morning, finally? Risk has changed; fundamentals are s...
· Nick Hillman2 min read