Daily Market Update - June 03, 2024
Today in oil and natural gas markets: OPEC's decision disappoints, Norway's cracked gas pipeline drives near-term disruption sentiment.
In Today’s Energy Market Update:
Oil Complex: Front-month WTI closes near four-month lows after OPEC leaves the door open for members to begin unwinding production cuts in Q4. Demand uncertainty remains in the driver’s seat.
Natural Gas: Norway’s export outage fuels a sentiment-driven rally in Henry Hub, and warm weather forecasts remain the primary bullish support (and risk) for natural gas.
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