With WTI Over $50, Will Shale Producers Bite?

Oil prices are retreating after Friday’s lofty gains propelled the product above $52/bbl. WTI’s rally will be an interesting test for US shale producers, who made steep cuts in 2020 to stay in business. Normally, $50/bbl would be a tantalizing opportunity to layer in additional profitable production for the next year, spurring shale companies to […]

US Added Rigs in June – Will Crude Production Resume?

Yesterday, WTI crude followed US equities higher in the morning session, then lower in the afternoon on coronavirus fears, ultimately closing the day about $1/bbl down. Headlines regarding renewed lockdowns and restrictions in the US and Asia surfaced in the afternoon and put downward pressure on markets.  Concerns that a surge in coronavirus cases could […]

Mid-Week Review – May 6, 2020

Oil Resumes Rally with Prices Doubling Over Last Five Days Futures in New York rose above $25 a barrel after earlier breaking above their 50-day moving average for the first time since January. Russian oil production was down 16% in the first five days of May, Interfax reported, while Plains All American Pipeline LP sees […]

Market Condition Report - Disclaimer
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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