Insights and Commentary

Pickering Energy Partners is committed to serving as a key source for your energy news across the industry, providing you with up-to-date insights and market commentary on a regular basis.

MONTHLY COMMENTARY

“Marching ahead (pun intended). After a very strong February, energy mostly scratched out additional gains in March. Diversified Energy added +2.7% (S&P1500 Energy, S15ENRS), while Midstream led the pack at +6.9% (AMZ), E&P added +1.0% (XOP) and Oilfield Services fell -4.8% (OIH). The S&P500 advanced +4.2%, front month WTI crude softened -3.8% (~$59.20/bbl) and front month Henry Hub natural gas dropped -6.0% (~$2.60/mcf).

The oil macro continues to be dominated by OPEC actions. The cartel, in particular Saudi Arabia, is managing the market artfully. In early March, OPEC++ extended their cuts for another month, while granting Russia and Kazakhstan a small increase – generally keeping everyone happy…”

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VALUE OVER VOLUME

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