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

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Oil futures: Crude moves sideways ahead of last-ditch Geneva talks

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>Last week's EIA-reported crude oil stock build of 16.0 million barrels threw our short-term view somewhat off track.</li>
<li>However, updating our models suggests no need to alter our bullish view of 2026, with relatively lean inventories anticipated by the end of the year.</li>
<li>The reason for no change is that our forecasts of refinery crude oil runs have been too low reflecting higher-than-expected demand thus, an upward revision for the remainder of 2026. </li>
</ul>


Last week's EIA-reported crude oil stock build of 16.0 million barrels threw our short-term view somewhat off track.
However, updating our models suggests no need to alter our bullish view of 2026, with relatively lean inventories anticipated by the end of the year.
The reason for no change is that our forecasts of refinery crude oil runs have been too low reflecting higher-than-expected demand thus, an upward revision for the remainder of 2026. 


Recent Bearish EIA Crude Oil Data: A Short-Term Setback, But Does Not Alter Our Bullish View of 2026