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Direction of Oil & Gas Prices?

Posted: Sat Mar 18, 2023 8:46 am
by ChuckGeb

I realize you must be preparing for an interesting presentation at your upcoming drilling fund conference. Do you have any new insights that you have gained that you can share with EPG? I realize you have your price deck but the last few weeks of economic turmoil had wreaked havoc on the energy sector. which may be an understatement. Any updated forecasts from others you follow would be very useful to members.
Lastly what impact on prices realized the last week or so do you think are attributable to triple witching hour lead up and close out yesterday?
And as this forum has gotten a bit lively I would welcome others thoughts as well.
I'm strapped in but the belt is getting a bit tight.

Re: Direction of Oil & Gas Prices?

Posted: Mon Mar 20, 2023 12:09 pm
by dan_s
WTI needs to find a support level first. If you read the IEA's Oil Market Report for March you will see that everything points to a very tight global oil market later this year.
Natural gas needs a few good storage reports.

I am traveling this week, so very limited access to the internet.

Re: Direction of Oil & Gas Prices?

Posted: Mon Mar 20, 2023 2:27 pm
by ChuckGeb
I looked at IEA’s report. It gave me a headache. I thought in previous posts you had indicated that IEA’s reporting was so biased that it could not be relied upon. Have a nice trip. Nothing further on this required. I didn’t realize you were traveling when I made the post. Just trying to make some sense out of a crazy market.