In today’s briefing:
- [ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts
[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts
- For the week ending 20/Dec, U.S. crude inventories fell by 4.2m barrels, beating expectations of a 0.7m barrel decrease. Distillate stocks fell more than expected, while gasoline inventories unexpectedly rose.
- U.S. natural gas inventories fell by 93 Bcf for the week ending 20/Dec, missing analyst expectations of a 98 Bcf drawdown. Inventories are 4.9% above the 5-year seasonal average.
- Chevron signed a 20-year deal with Energy Transfer for 2 million tonnes of LNG annually. Stifel lowered Schlumberger’s 12-month price target while maintaining a Buy rating.
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