Oil and Gas Marketing Report >> May-2008

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Crude Oil

EIA reported U.S. crude oil stocks were up 5.7 million barrels for the week of May 2. Gasoline stocks were up 0.8 million barrels and distillate stocks were down 0.1 million barrels.

The Crude Oil NYMEX June contract moved to record highs on Thursday, May 8, settling at $U.S.123.69/bbl, up $0.16/MMbtu. Prices moved up even after the EIA reported strong increases in inventory of crude oil for the last week. Crude remains high on continued concerns about supply disruptions in Nigeria. Crude prices also gained momentum after Goldman Sachs came out with forecasts that oil prices could rise to $150 to $200 within two years.

WTI CrudeEdmonton Light Crude 		 

 08 May 2008

WTI

US$/Bbl

123.53

Edmonton

CDN$/Bbl

121.48

NYMEX Gas

US$/MMbtu

11.08

AECO

CDN$/GJ

9.93

 

 

PETROassist.com provides this marketing information as a service to its customers and other interested parties. The purpose of this page is to provide general information on oil and gas prices and trends. While the information contained in this document was obtained from sources believed to be reliable PETROassist.com makes no warranty as to the accuracy of the information posted.
Sources: Bloomberg | International Energy Agency | OPEC

 

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