Money managers net interest in ICE Brent hits highest since January 2020.
The crude complex retreated with the threat of a resolution to the Mid-East conflict. NYMEX natural gas followed the oil market lower with the combined effect of geopolitical de-escalation and bearish weather revisions.
Today in oil and natural gas markets:
Crude rallied on Iran's broadening attacks on regional energy infrastructure. NYMEX natural gas settles little changed as bearish forecast revisions offset softer domestic production and broader geopolitical tailwinds.
Crude settles lower as vessels carrying non-Iranian cargo transit the Strait of Hormuz with AIS transponders switched on. The IEA updated the market with the regional contributions for the 400 MMb coordinated stock release announced last week.
Money managers net interest in ICE Brent hits highest since February 2020 as shorts drop to the lowest since Nov 2023.
Crude rallies to highest settle since August 2022. Heat cracks outperform as China halts all clean product exports. NYMEX natural gas edges up with incremental support from domestic fundamentals and Strait of Hormuz attacks.
Crude and products rally on a heavy day of Iranian strikes in the Strait of Hormuz and the supply risks implied by the IEA's record 400 MMb emergency stock release Natural gas gains with bullish weather revisions and weaker L48 production.
Noisy headlines whipsaw the global crude market on Tuesday but ultimately drive benchmarks lower. NYMEX natural gas falls as model guidance warmed for the second consecutive day.
WTI falls from an intraday high of $119.48 as President Trump signals a potential Strait of Hormuz recovery. Natural gas follows geopolitical developments and mild March forecasts.
WTI finishes with a record weekly gain and the highest prompt settle since Sep 2023. Fund managers hit the exit after initial MidEast developments.
