In the two weeks since Stratas Advisors' last edition of What’s Affecting Oil Prices (June 23 to July 7), Brent crude rose $1.17 per barrel (bbl). However, between June 30 and July 7, prices fell $1.21/bbl after peaking at $48.12/bbl in the week of June 30.
For the week ahead, Stratas Advisors expect prices to continue falling, averaging around $45.50/bbl.
For the upcoming week, Stratas Advisors expects crude inventories will see only slight movement compared to last week, likely flat to drawing 1 million as crude runs offset supply increases. The firm also expects the Brent-West Texas Intermediate differential will widen, trading between $2.50 and $2.70 with respect to the September contract.
Recommended Reading
Marketed: Bendel Ventures 73 Well Package in Texas
2024-03-05 - Bendel Ventures LP has retained EnergyNet for the sale of a 73 well package in Iron and Reagan counties, Texas.
Marketed: EnCore Permian Holdings 17 Asset Packages
2024-03-05 - EnCore Permian Holdings LP has retained EnergyNet for the sale of 17 asset packages available on EnergyNet's platform.
Marketed: Ascent Resources- Utica 96 Well Package in Ohio
2024-03-12 - Ascent Resources- Utica LLC and Ascent Utica Minerals LLC has retained EnergyNet for the sale of a non-operated 96 well package in Belmont, Guernsey, Harrison, Jefferson and Noble counties, Ohio.
Marketed: Anschutz Exploration Six Asset Package in Wyoming
2024-02-26 - Anschutz Exploration Corp. has retained EnergyNet for the sale of six AFE asset packages in Campbell County, Wyoming.
Marketed: Anadarko Minerals Woodford Shale Opportunity
2024-02-26 - Anadarko Minerals has retained EnergyNet for the sale of a Woodford Shale opportunity in Blaine County, Oklahoma.