WTI prompt month (MAR 21) was up $0.50 on the day, to settle at $52.77/Bbl.
Buyers are vying for Control at/above $52.60. Continue with market-driven hedges from $47/bbl up to $52/bbl in Bal 2021 and Cal 2022. Only a weekly close below $51.44/Bbl will change the Trend to DOWN, giving producers less time to wait to consider hedges.
Also, NG prompt month (FEB 21) was up $0.156 on the day, to settle at $2.602/MMBtu.
Buyers are taking Control above $2.54. Producers who need to execute (minimum required) risk-driven hedges should watch for a close below the Control.
To see more AEGIS updates on oil and gas markets’ TLC components, please see AEGIS Logical Hedge – Week of January 25, 2021.