Oil & Gas Prices - April 6

[dan_s]

Opening Prices:
> WTI is up $1.02 to $102.98/bbl, and Brent is up $0.76 to $107.40/bbl.
> Natural gas is up 33.1c to $6.363/MMBtu.

AEGIS NOTES
OIL

Later today, executives from several U.S. oil and gas companies are set to testify on oil and gas prices before the House Energy and Commerce Committee
> Congress calls energy producers for questioning after the average price at the pump in the U.S. is now $4.173/gal, the highest level in records going back to 2000 (AAA, BBG)

An oil embargo on Russian oil would be difficult for the EU, while such a measure on gas would be near-impossible, Goldman Sachs Jeff Currie said in a Bloomberg TV interview

Coal is the most fungible commodity, gas the least so, oil somewhere in between
Strategic oil reserves by consumers are not a solution to underinvestment
“But oil, it will be very, very difficult to do as well”