Independent Energy Equities & Commodities Research, WHB Energy Research LLC

William H Brown III

WHB Energy Research LLC is an independent energy industry equity and commodity boutique providing analysis and trading/investment recommendations to hedge funds, mutual funds, oil and gas producing companies, energy consuming companies and high net worth individuals. WHB Energy Research LLC fills a major void by providing top level fundamental and qualitative research complemented by state of the art quantitative modeling. WHB Energy Research LLC also engages in physical oil trading activity as an agent/intermediary and also provides expert witness consultation and testimony. From 2003-2005 Mr. Brown established and managed an energy hedge fund for a single investor/client. Specialties: Economic and financial analysis and forecasting of the NYMEX, ICE, and international physical petroleum markets and energy equities in the integrated, independent producer, refining, drilling, service, and transportation sectors.

Independent Energy Equities & Commodities Research

Independent energy equity and commodity boutique

WHB Energy Research LLC

WHB Energy Research LLC is an independent energy industry equity and commodity boutique
providing analysis and trading/investment recommendations to hedge funds, mutual funds, oil
and gas producing companies, energy consuming companies and high net worth individuals.
WHB Energy Research LLC fills a major void by providing top level fundamental and
qualitative research complemented by state of the art quantitative modeling. WHB Energy
Research LLC also engages in physical oil trading activity as an agent/intermediary and also
provides expert witness consultation and testimony. From 2003-2005 Mr. Brown established and
managed an energy hedge fund for a single investor/client. Specialties: Economic and financial
analysis and forecasting of the NYMEX, ICE, and international physical petroleum markets and
energy equities in the integrated, independent producer, refining, drilling, service, and
transportation sectors.

Commodities

<ul>
<li>NYMEX crude oil decided to emerge from its “funk,” with market participants reminded that the “free flow” through the Strait of Hormuz is not necessarily the status quo.     </li>
<li>Increasing our short Sep NYMEX RBOB hedge versus our long VLO and MPC positions was well timed, either by dumb luck or that RBOB cracks had become severely overvalued.     </li>
<li>In any event, while we were grateful for crude oil's recovery and our RBOB crack hedge doing what it is supposed to do, one day does not a trend make.    </li>
</ul>


NYMEX crude oil decided to emerge from its “funk,” with market participants reminded that the “free flow” through the Strait of Hormuz is not necessarily the status quo.     
Increasing our short Sep NYMEX RBOB hedge versus our long VLO and MPC positions was well timed, either by dumb luck or that RBOB cracks had become severely overvalued.     
In any event, while we were grateful for crude oil's recovery and our RBOB crack hedge doing what it is supposed to do, one day does not a trend make.    


Morning Market Notes: Deja Vu All Over Again? One Day Does Not Necessarily a Trend Make

Crude Oil

Morning Market Notes: Deja Vu All Over Again? One Day Does Not Necessarily a Trend Make