{"id":9609,"date":"2025-06-09T14:36:20","date_gmt":"2025-06-09T18:36:20","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9609"},"modified":"2025-06-09T14:36:20","modified_gmt":"2025-06-09T18:36:20","slug":"energy-futures-overperform","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/es\/energy-futures-overperform\/","title":{"rendered":"Energy Futures Overperform"},"content":{"rendered":"\n\n\n
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Conventional energy commodities saw an upward trend as shifts in fundamentals and geopolitical dynamics reshaped market perspectives.<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Crude Oil<\/h5>\n

Shale drilling momentum slows, WTI reaches 2-month high<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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  • WTI crude oil futures climbed to settle at $64.60 per barrel on Friday,\u00a0marking their first weekly gain in three weeks with a rise of over 6.5%. The rebound was fueled by renewed optimism after trade talks between US-China, raising hopes for stronger global demand<\/li>\n
  • EIA\u2019s report for the week to 30 May shows refinery runs rising 670 kb\/d while commercial crude inventories fell 4.3 mb\u2014leaving stocks 7 % below their five-year average and underscoring a tight domestic balance<\/li>\n
  • At its 1 June meeting, OPEC+ approved only another 411 kb\/d step-up for July, a compromise that keeps most voluntary cuts in place and signalled continued supply discipline despite Saudi pressure for larger hikes<\/li>\n
  • Shale activity cools further, as Baker Hughes counted 559 active U.S. rigs on 6 June (-4 w\/w; -37 y\/y), the lowest since November 2021\u2014hinting at limited upside for near-term Lower-48 output growth<\/li>\n<\/ul>\n
    Gasoline<\/h5>\n

    Storage saw strong buildup, futures fluctuate<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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    • US gasoline futures rose to $2.07 per gallon\u00a0as the summer driving season gained momentum, with strong travel demand outweighing oversupply concerns<\/li>\n
    • After a 2.4 mb draw left U.S. gasoline inventories at 223 mb (\u22483 % below the 5-yr norm) for the week ending 23 May, a swift 5.2 mb rebuild to 228 mb the following week tempered upside, underscoring a still finely balanced market<\/li>\n
    • One-week deliveries surged to 9.5 mb\/d ahead of Memorial Day, yet the four-week average through 30 May was only 8.8 mb\/d\u20143 % lower y\/y\u2014keeping the overall call on RBOB subdued<\/li>\n
    • Trans-Atlantic arrivals remained robust, with total gasoline imports averaging 0.78\u20130.79 mb\/d over the two-week span, roughly two-thirds destined for the East Coast, easing the region\u2019s supply pinch<\/li>\n
    • Refiners lifted crude runs by 670 kb\/d to 17.0 mb\/d (93.4 % utilisation) by end-May, but finished-gasoline output dipped as plants favoured distillate yields, capping incremental RBOB supply<\/li>\n<\/ul>\n
      Natural Gas<\/h5>\n

      Inventory increases surpass seasonal averages<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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      • US natural gas futures rose to above $3.75\/MMBtu, heading for an 8% weekly gain, driven mainly by lower production<\/li>\n
      • Dry output dipped to 105.8 Bcf\/d in the Jun-4 EIA gas week, and Baker Hughes tallied only 114 active gas rigs on 6 Jun, the leanest early-summer fleet since 2021<\/li>\n
      • Sequential injections of 101 Bcf (week to May 23) and 122 Bcf (to May 30) pushed inventories to 2.60 Tcf\u2014now 5 % above the five-year average\u2014muting upward price pressure<\/li>\n
      • Warmer weather lifted power-sector burn to 34.6 Bcf\/d (+10 % w\/w) while residential\/commercial use fell 23 %, leaving total U.S. consumption essentially flat<\/li>\n
      • Gulf-coast maintenance cut pipeline deliveries to export plants to 14.4 Bcf\/d (-7 % w\/w); yet 25 cargoes still sailed, pointing to a brief export lull<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        Conventional energy commodities saw an upward trend as shifts in fundamentals and geopolitical dynamics reshaped market perspectives. Crude Oil Shale drilling momentum slows, WTI reaches 2-month high WTI crude oil futures climbed to settle at $64.60 per barrel on Friday,\u00a0marking their first weekly gain in three weeks with a rise of over 6.5%. The rebound […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9609","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/comments?post=9609"}],"version-history":[{"count":2,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9609\/revisions"}],"predecessor-version":[{"id":9611,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9609\/revisions\/9611"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/media?parent=9609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/categories?post=9609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/tags?post=9609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}