Brent/WTI spread widens as surplus of crude comes into focus

I am maintaining my oil view at neutral and my bias at neutral as the market digests the evolving situation in the Ukraine while awaiting news of Libyan oil. I continue to suggest that you remain cautious on Libya until oil is consistently flowing once again.

I am maintaining my Nat Gas (NYMEX:HPK14) view at neutral and my bias at cautiously bullish as the market moved into a new higher trading range ahead of the upcoming lower demand shoulder season. The Nat Gas spot Nymex contract is now in the $4.70/mmbtu to $4.90/mmbtu trading range.

Markets are mostly higher heading into the U.S. trading session as shown in the following table.

 

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