Oil & Gas Prices - Nov 23

[dan_s]

We are traveling this week, so there won't be a new podcast until Thanksgiving. - Dan.

Notes below are from Aegis Energy.

Crude Oil
Crude Oil Price Action
WTI hit a two-month high this week and experienced high volatility to finally settle Friday at $57.93 with a weekly price range of $54.76 to $58.55.

Storage and Production
Oil prices remained steady after the EIA reported a build in total crude stocks on Wednesday. The largest draw at Cushing, Oklahoma, in three months helped offset builds in other regions.

Oil Curtailments in Alberta are Likely to End Earlier Than Originally Planned

Natural Gas
Natural Gas Price Action
Gas prices remained volatile this week as traders pushed prices around in accordance with weather outlooks. Prices settled up for the week at $2.66, despite being at a low of $2.54 on Monday.

The Case for Long-Term Propane Imbalances
A lack of northbound pipeline capacity has recently shown how Midwest propane markets are undersupplied, while Gulf Coast markets are oversupplied.

LNG Update
The domestic LNG industry continues to make strides as several companies sought and received permission from FERC to move forward with the next phases of their projects this week.