I am maintaining my oil view at neutral and maintaining my bias at cautiously bearish as the market continues to digests the evolving situation in the Ukraine while awaiting further news of Libyan oil. I continue to suggest that you remain cautious on Libya until oil is consistently flowing once again.
Natural Gas (NYMEX:HPM16)
I am maintaining my Nat Gas view at neutral and keeping my bias at neutral after last week’s bearish inventory snapshot. The June Nymex contract is in the middle of its trading range ahead of the upcoming lower demand shoulder season. The Nat Gas June Nymex contract is in the $4.60/mmbtu to $4.80/mmbtu trading range.
Markets are mixed heading into the US trading session as shown in the following table.