Daily Market Update - June 05, 2024
Today in oil and natural gas markets: DOE stats, Saudi OSPs, and a rebound for a challenged WTI curve, Natural gas rally in the front (weather and production) and long dated weakness (ABS deal)
In Today’s Energy Market Update:
Oil Complex: The overall crude complex fails short of the stock change for the same week last year, but directionally favors market bears. Saudi OSPs decline for the first time in 4 months on deliveries to Asia, while European price increases fail to interest the market
Natural Gas: Hot weather on the horizon, at least according to all 3 major weather models, and an EIA inventory report tomorrow which could challenge today’s rebound
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