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The 12-month rolling strip for Brent climbed 9.5% week-over-week to $87.92/barrel, and WTI rose 6.2% week-over-week to $80.25/barrel. Prices in the U.S. are expected to rise this week over uncertainty on the next stage of peace talks in the conflict between the U.S. and Iran. The NYMEX prompt month fell $0.15/MMBtu week-over-week to $2.52/MMBtu while the NYMEX rolling 12-month strip decreased by $0.06/MMBtu week-over-week to $3.35/MMBtu. Storage levels saw a net increase of 103 Bcf for the week ending April 17th. The NEPOOL 12-month electricity strip rose 4.7% week-over-week to $75.93/MWh. The 2027, 2028, and 2029 strips all rose week-over-week.
The 12-month rolling strip for Brent was down 3.4% week-over-week to $80.26/barrel, and WTI fell by 5% week-over-week to $75.57/barrel. Gas prices in the US are expected to rise this week after escalations in the US-Iran conflict due to a US Navy blockade of Iranian vessels. The NYMEX prompt month gained $0.03/MMBtu week-over-week to $2.67/MMBtu while the NYMEX rolling 12-month strip decreased by $0.02/MMBtu week-over-week to $3.41/MMBtu. Storage levels saw a net increase of 59 Bcf for the week ending April 10th. The NEPOOL 12-month electricity strip fell 5.54% week-over-week to $72.56/MWh. The 2027 and 2028 strips fell week-over-week, while the 2029 strip rose slightly.
The 12-month rolling strip for Brent is down 1.2% week-over-week to $83.09/barrel, and the WTI strip is down 0.7% week-over-week to $79.55/barrel. After the failure of U.S.-Iran peace talks in Pakistan over the weekend, the U.S. is set to blockade the Strait of Hormuz starting today. The NYMEX prompt month dropped by $0.15/MMBtu week-over-week to $2.65/MMBtu while the NYMEX rolling 12-month strip decreased by $0.10/MMBtu week-over-week to $3.43/MMBtu. Storage levels saw a net increase of 50 Bcf for the week ending April 3rd. The NEPOOL 12-month electricity strip fell 2.26% week-over-week to $76.82/MWh. The 2027 strip fell slightly week-over-week, while the 2028 and 2029 strips rose slightly.
The 12-month rolling strip for Brent was down 6% week-over-week to $84.09/barrel, and for WTI it was down 1.9% week-over-week to $80.15/barrel. Intermediaries are working with U.S, Israel, and Iran on a ceasefire proposal as the US deadline to Iran for an opening of the Strait of Hormuz draws nearer. The NYMEX prompt month dropped by $0.20/MMBtu week-over-week to $2.80/MMBtu while the NYMEX rolling 12-month strip decreased by $0.16/MMBtu week-over-week to $3.53/MMBtu. Storage levels saw a net increase of 36 Bcf for the week ending March 27th. The NEPOOL 12-month electricity strip fell 2.17% week-over-week to $78.59/MWh. The 2027, 2028, and 2029 strips saw mixed movement week-over-week.
The 12-month strip for Brent is down 1.4% week-over-week to $90.45/barrel, and the 12-month strip for WTI is down 3.3% week-over-week to $82.42/barrel. US production of crude oil remains strong as global markets grapple with a major supply shock caused by the Iran conflict. The NYMEX prompt month remained at $3.10 week-over-week, while the NYMEX rolling 12-month strip decreased by $0.07/MMBtu week-over-week to $3.77/MMBtu. Storage levels saw a net withdrawal of 54 Bcf for the week ending March 20th. The NEPOOL 12-month electricity strip rose 5.78% week-over-week to $81.16/MWh. The 2027 and 2028 strips rose week-over-week while the 2029 strip decreased slightly.
As global oil supply continues to tighten, the Strait of Hormuz is drawing more military attention from both Iran and the US. The 12-month strip for Brent was up 5.7% week-over-week to $91.76/barrel, and the 12-month strip for WTI was up 2.3% week-over-week to $85.27/barrel. The NYMEX prompt month declined by $0.04/MMBtu week-over-week and is now trading at $3.10/MMBtu. The NYMEX rolling 12-month strip increased by $0.01/MMBtu week-over-week to $3.84/MMBtu. Storage levels saw a net increase of 35 Bcf for the week ending March 13th. The NEPOOL 12-month electricity strip fell 1.24% week-over-week to $76.73/MWh. The 2027 strip rose week-over-week while the 2028 and 2029 strips decreased slightly.
The ongoing conflict in the Gulf and a blockade of the Strait of Hormuz by Iran continue to apply dramatic upward pressure in the markets. The 12-month strip for Brent was up 11.4% week-over-week to $86.85/barrel, and the 12-month strip for WTI was up 11.1% week-over-week to $83.32/barrel. The NYMEX prompt month declined by $0.06/MMBtu week-over-week and is now trading at $3.13/MMBtu. The NYMEX rolling 12-month strip has a similar weekly drop of $0.08/MMBtu to $3.83/MMBtu. Storage levels saw a net withdrawal of 38 Bcf for the week ending March 6th. The NEPOOL 12-month electricity strip rose 1.05% week-over-week to $77.69/MWh. The 2027 and 2028 strips rose week-over-week while the 2029 strip decreased slightly.
Escalations in the Iran conflict have sent global oil markets into a buying frenzy. The 12-month strip for Brent was up 11.4% week-over-week to $77.94/barrel, and the 12-month strip for WTI was up 15.6% week-over-week to $75.03/barrel. The NYMEX prompt month rose by $0.33/MMBtu week-over-week and is now trading at $3.19/MMBtu. The NYMEX rolling 12-month strip has a similar weekly gain of $0.34/MMBtu to $3.92/MMBtu. Storage levels saw a net withdrawal of 132 Bcf for the week ending February 27th. The NEPOOL 12-month electricity strip rose 10.81% week-over-week to $76.88/MWh. The 2027 and 2028 strips rose week-over-week while the 2029 strip decreased slightly.
Amidst developing global turmoil, oil markets are experiencing near-term volatility. The 12-month strip for Brent closed at $69.97 per barrel, up 1.7% week-over-week. WTI experienced an increase of 0.5% week-over-week as well, rising to $64.93 per barrel. Dramatic near-term price swings could be expected for a few weeks. The NYMEX prompt month shifted to April and fell $0.19/MMBtu week-over-week to $2.86/MMBtu. The rolling 12-month strip decreased by only $0.05/MMBtu week-over-week to $3.57/MMBtu. Storage levels saw a net withdrawal of 52 Bcf for the week ending February 20th. The NEPOOL 12-month electricity strip fell 1.01% week-over-week to $69.38/MWh. The 2027, 2028, and 2029 strips all increased slightly in the previous week.
Oil markets experienced an uptick in prices last week, with Brent closing at $68.82 per barrel, up 4.9% week-over-week. WTI experienced an increase of 4.8% week-over-week as well, rising to $64.63 per barrel. Volatility around tariffs is injecting further uncertainty into the global oil trade. The NYMEX prompt month fell $0.20/MMBtu week-over-week to $3.05/MMBtu. The rolling 12-month also decreased by $0.09/MMBtu week-over-week to $3.63/MMBtu. Storage levels saw a net withdrawal of 144 Bcf for the week ending February 13th. The NEPOOL 12-month electricity strip fell 0.65% week-over-week to $70.09/MWh. The 2027 strips decreased week-over-week, while the 2028 and 2029 strips increased slightly.
Oil markets experienced a slight drop this past week, with Brent closing at $65.57 per barrel, down 0.7% week-over-week. WTI experienced a decrease of 0.9% week-over-week as well, dropping to $61.65 per barrel. U.S.-Iran and Russia-Ukraine talks in Geneva today are drawing interest from crude oil traders among many other stakeholders. The NYMEX prompt month fell $0.18/MMBtu week-over-week to $3.24/MMBtu. The rolling 12-month also decreased by $0.11/MMBtu week-over-week to $3.72/MMBtu. Storage levels saw a net withdrawal of 249 Bcf for the week ending February 6th. The NEPOOL 12-month electricity strip fell 2.84% week-over-week to $70.55/MWh. The 2027 and 2028 strips both decreased week-over-week, while the 2029 strip increased slightly.
Oil markets experienced a drop this past week, with Brent closing at $66.06 per barrel, down 2% week-over-week. WTI experienced a decrease of 1.5% week-over-week as well, dropping to $62.23 per barrel. U.S.-Iran talks in Oman on Friday eased some tension in the oil markets, helping drive down crude prices. The NYMEX prompt month fell $0.93/MMBtu week-over-week to $3.42/MMBtu. The rolling 12-month also decreased by $0.65/MMBtu week-over-week to $3.83/MMBtu. Storage levels saw a record net withdrawal of 360 Bcf for the week ending January 30th. The NEPOOL 12-month electricity strip fell 15.80% week-over-week to $72.61/MWh. The 2027 and 2029 strips both decreased week-over-week, while the 2028 strip increased slightly.
Oil markets experienced gains this past week, with Brent closing at $67.38 per barrel, up 5.3% week-over-week. WTI experienced an increase of 5.1% week-over-week as well, climbing to $63.17 per barrel. A possible escalation in U.S.-Iran tensions could cause a major supply shock to global oil markets. The NYMEX prompt month shifted to March and fell $0.92/MMBtu week-over-week to $4.35/MMBtu. The rolling 12-month strip increased by $0.39/MMBtu week-over-week to $4.48/MMBtu. Storage levels saw a large net withdrawal of 242 Bcf for the week ending January 23rd. The NEPOOL 12-month electricity strip rose 18.40% week-over-week to $86.24/MWh. The 2027, 2028, and 2029 strips all increased week-over-week.
Oil markets experienced gains this past week, with Brent closing at $64.00 per barrel, up 2.2% week-over-week. WTI experienced an increase of 2.2% week-over-week as well, climbing to $60.12 per barrel. Cold weather is driving up near-term demand and prices for heating oil. The NYMEX prompt month jumped $2.17/MMBtu week-over-week to $5.28/MMBtu. The rolling 12-month strip by $0.77/MMBtu week-over-week to $4.09/MMBtu. Storage levels saw a net withdrawal of 120 Bcf for the week ending January 16th. The NEPOOL 12-month electricity strip rose 10.47% week-over-week to $72.84/MWh. The 2027 and 2029 strips increased while the 2028 strip dipped slightly week-over-week.
Oil markets experienced minor gains this past week, with Brent closing at $62.61 per barrel, up 0.7% week-over-week. WTI experienced an increase of 0.5% week-over-week, climbing to $58.82 per barrel. Oil markets are reacting minimally to geopolitical tensions in Venezuela and Iran. The NYMEX prompt month fell $0.07/MMBtu week-over-week to $3.10/MMBtu. The rolling 12-month strip increased slightly by $0.02/MMBtu week-over-week to $3.32/MMBtu. Storage levels saw a net withdrawal of 71 Bcf for the week ending January 9th. The NEPOOL 12-month electricity strip fell 0.73% week-over-week to $65.94/MWh. The 2027, 2028, and 2029 calendar strips all experienced slight week-over-week increases.
Oil markets experienced moderate gains this past week, with Brent closing at $62.15 per barrel last week, up 3% week-over-week. WTI experienced an increase of 2.6% week-over-week, climbing to $58.50 per barrel. Analysts continue to monitor U.S.-Venezuela tensions and domestic unrest in Iran. The NYMEX prompt month fell $0.45/MMBtu week-over-week to $3.17/MMBtu. The rolling 12-month strip also decreased by $0.34/MMBtu week-over-week to $3.30/MMBtu. Storage levels saw a net withdrawal of 119 Bcf for the week ending January 2nd. The NEPOOL 12-month electricity strip fell 6.36% week-over-week to $66.42/MWh. The 2027, 2028, and 2029 calendar strips all experienced week-over-week decreases.
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