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>Oil prices surged yesterday in response to a further escalation of the Houthi-Saudi conflict, which resulted in a closure of the port of Yanbu and damage to the SANREF refinery.                 </li>
<li>There is as of yet no indication of any attempt at diplomacy to resolve the situation, although the Houthis claim that transit through the Bab el-Mandeb is “safe.”                                  </li>
<li>In terms of trading, given the risk of either further oil price gains or this market turning on a dime via a ceasefire/diplomacy, we would continue to concentrate on spreads.          </li>
</ul>


Oil prices surged yesterday in response to a further escalation of the Houthi-Saudi conflict, which resulted in a closure of the port of Yanbu and damage to the SANREF refinery.                 
There is as of yet no indication of any attempt at diplomacy to resolve the situation, although the Houthis claim that transit through the Bab el-Mandeb is “safe.”                                  
In terms of trading, given the risk of either further oil price gains or this market turning on a dime via a ceasefire/diplomacy, we would continue to concentrate on spreads.          


Morning Market Notes: We Believe Too Much Risk Trading the Flat Price; Would Concentrate on Spreads

Crude Oil

Morning Market Notes: We Believe Too Much Risk Trading the Flat Price; Would Concentrate on Spreads