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 in November through…
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 MMBbls. Collectively, Cushing and PADD…
The OPEC Joint Ministerial Monitoring Committee (JMCC) and Joint Technical Committee met this week to review global oil fundamentals and the best path to reduce global inventories. WTI was trading…
Lower supply expectations in the U.S. and abroad, and expectations for a recovery in global oil demand, will support prices through the end of 2021, according to the EIA.The EIA…
With the recent moves in LNG, we decided to change a few assumptions in our proprietary supply and demand model. If LNG maintains recent rates, the extra demand would easily…
Natural gas withdrawals, which typically begin in mid-November in the U.S., are likely to begin about two weeks early this year. Implied daily gas-storage changes over the past week have…
Gas basis may be threatened as the amount of natural gas in storage could set new records in the U.S. Midwest and East regions of the U.S. this fall. Storage…
Lower natural gas injections over the past five weeks have reduced the likelihood of exceeding storage capacity. For the past month or so, gas injections into storage have trended lower…
The market is perilously oversupplied, but recent stats suggest disaster is less likely. Gas inventories are still on a path to test storage limits in October, November The gas market…
Last week's 120-Bcf increase in gas inventories is troublesome. Again we address that storage builds like those in 2019 can’t be tolerated for long. The chart below shows that last week's…