Liquidity Energy LLC’s update for July shows a rise in energy product prices alongside steady natural gas support. Recent reports indicate that factors such as geopolitical tensions and low inventories are contributing to higher prices. At the same time, trade and tariff concerns add a layer of uncertainty.
Here are the key insights:
- Higher Petroleum Product Prices: September West Texas Intermediate is up 51 cents, September Reformulated Blend is up 1.34 cents, and September Ultra Low Sulfur Diesel is up 1.90 cents. Product prices are leading the overall gains.
- DOE Data and Supply Issues: Data released on Wednesday showed a draw on crude oil inventories, while build numbers were recorded for refined products, even though the overall refinery run rate has fallen. Meanwhile, drone attacks on oilfields in Iraq’s Kurdistan region have reduced crude output for a third day.
- Technical Trading and Market Momentum: Energy contracts are trading within narrower ranges than yesterday’s readings. Despite a recent selloff, the September price charts show that the markets maintain positive momentum.
- Natural Gas Market Strength: Natural gas spot futures are up by 5.7 cents. Continued support comes from the expectation of warm weather later this month and high volumes of LNG feed gas demand. Technical charts indicate that natural gas remains on an upward step-ladder pattern.
For the full update, read the original post here.
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