Daily Energy Report 04.30.2020

Crude Oil Futures for June 2020 settled up $3.78 @ $18.84/bbl trading in a $3.92 range including the overnight-RBOB settled down 2.94/cpg and Heating Oil settled up 3.74/cpg.The American Petroleum Institute’s weekly petroleum storage report released late Tuesday afternoon showed that domestic crude supplies increased by + 10.0 million barrels for the week ended April 24th. The weekly API data also showed a
surprise storage decrease of 1.1 mil/bbl for Gasoline and a build of +5.5 mil/bbl for Distillates. The Energy Information Administration weekly petroleum storage report released early Wednesday morning showed that domestic crude supplies
increased by +9.0 million barrels for the week ended April 24th. The weekly EIA data also showed a surprise storage decrease of -3.7mil/bbl for Gasoline and a build of +5.1 mil/bbl for Distillates. Total commercial petroleum inventories
increased last week by +10.4 million barrels last week.

Natural Gas Futures for June 2020 settled up $0.080 @ $1.949/mmbtu trading in a .128 cent range including the overnight session. Thursday morning’s weekly Energy Information Administration Natural Gas storage data showed a build of +70 billion cubic feet for the week ended April 24th. That compares with an increase of +43 bcf in the preceding week, a build of
+123 bcf a year earlier and a five year average injection of +81.6 bcf. Updated weather forecasts show warmer than average temperatures from Washington to the Southwest Coastal regions of Texa s, while cooler than average temperatures
spread from the Great Lake region into New England and south towards the lower Ohio Valley over the next six to ten day time frame.

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