Daily Market Update - May 01, 2024
Today in oil and natural gas markets: DOE data favors market bears, XOM/PXD deal news, product weakness drags WTI back below $80; Freeport LNG changes lead the NG market down before EIA day
In Today’s Energy Market Update:
Oil Complex: Overall complex build of 6.9 MMb does not correlate with the tight Q2 predicted by the DOE and OPEC
Natural Gas: Freeport down and so was NYMEX natural gas, production remains front and center for a market waiting for demand gains, plus thoughts on how the market might react to tomorrow’s storage number
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