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>In the context of yesterday’s discussion, we are increasingly confident that our long-standing estimated trading range for the prompt NYMEX crude oil contract will remain intact.         </li>
<li>Once again, our estimated peak has been around $88.00 per barrel with the trough at roughly $68.00 per barrel.                       </li>
<li>In terms of the trough, our Base Case still expects the fourth quarter to <em>average</em> $68.25 per barrel, versus a temporary bottom during any period of volatility.                </li>
</ul>


In the context of yesterday’s discussion, we are increasingly confident that our long-standing estimated trading range for the prompt NYMEX crude oil contract will remain intact.         
Once again, our estimated peak has been around $88.00 per barrel with the trough at roughly $68.00 per barrel.                       
In terms of the trough, our Base Case still expects the fourth quarter to average $68.25 per barrel, versus a temporary bottom during any period of volatility.                


Morning Market Notes: Perhaps Famous Last Words, But We Believe CL Prices To Be Rangebound From Here

Crude Oil

Morning Market Notes: Perhaps Famous Last Words, But We Believe CL Prices To Be Rangebound From Here