Energy Market Outlook
The crude oil market smashed higher at the end of last week off a quick agreement by OPEC plus to extend restraint. At times last week, the trade did not think the meeting would be held because of the inability to pull Iraq into line over compliance of the current production restraint agreement.
While the natural gas market has proven would-be bulls wrong consistently for the better part of 17 months, prices have shown respect for the $1.80 level on a very consistent basis since the beginning of March. While the supply situation in natural gas remains dominatingly negative, and demand has been very low for a long time one could suggest the US nonfarm payroll report could be a game changer for the natural gas market.
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