Winter Storm Pushes Oil to 13-Month Highs

Frigid temperatures throughout the US created havoc for oil markets, increasing heating oil and natural gas demand. The winter storm shut down several hundred thousand barrels per day of Texas oil production (references to “hell freezing over” come to mind), and the state is seeing 30-yr record low temperatures. With supplies cut, WTI crude oil […]

Rising Rigs Restore Rally

Rising rig counts and storms brewing in the Gulf of Mexico are giving markets a lift this morning. Reuters reports 58% of Gulf output – over 1 MMbpd – is offline as the storms approach. With both storms hitting the Gulf Coast in a few days, the output loss could materially impact next week’s crude […]

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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