Today’s energy market action:
- Oil prices snap four day winning streak.
- WTI and Cdn benchmarks give back about 1%.
- Energy outperforms on both sides of the border.
Today’s notable supply/demand update:
- API forecasts another big decline in US crude stockpiles.
- EIA lowers 2020 Brent and WTI forecasts.
- Goldman Sachs lowers 2019 demand forecast …
… but keeps 2020 forecast unchanged.
Today’s other notable energy news:
- Obsidian Energy explores “strategic alternatives.”
- Repsol expresses interest in ExxonMobil‘s GoM properties.
- Dutch gov’t plans to wind down Groningen gas field by 2022.
