Daily Market Update - May 09, 2024
Today in oil and natural gas markets: Crude and products move slowly and quietly higher in tandem, and curve flattening in the natural gas market
In Today’s Energy Market Update:
Oil Complex: Crude and products move slowly and quietly higher in tandem, general coverage of Permian E&Ps relative to DOE production forecasts, plus additional thoughts on yesterday’s SPR change and how crude + product exports align with Y/Y inventory data
Natural Gas: Minor market surprise from the EIA is enough to create more curve flattening, a breakdown of what mattered in the details of the EIA report, varied spot market behavior, pipeline updates, and more long dated weakness
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