Daily Market Update - May 29, 2024
Today in oil and natural gas markets: Spread contraction across the crude complex, API stats, Bid-week pressure for natural gas, June expires sub $2.50 after making a run towards $3.00 a week ago
In Today’s Energy Market Update:
Oil Complex: A range bound market inches ever closer to a virtual OPEC meeting which carries the risk of significantly expanding a $3.00 wide MTD range for the front month contract. Spread contraction spreads like wildfire across the crude complex
Natural Gas: Downside over the past week in context, thoughts on what matters in tomorrow’s EIA inventory report, and weather adjusted historical context of the current market
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