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MNI Commodity Weekly – Beryl Sets Tone for Hyperactive Hurricane Season

OIL

Executive Summary:


  • Beryl Sets Tone for Hyperactive Hurricane Season: Beryl becomes the first Category 5 storm recorded at this point of the year, bolstering fears of a hyperactive Atlantic hurricane season and its potential impact on energy markets.
  • Oil Markets: Crude prices have resumed a bullish trend with front month Brent the highest since late April amid a tighter balance, supported by geopolitical and hurricane risks. Diesel and gasoline cracks have also found support from expectations of improving US demand ahead of the July 4 holiday period and with unexpected refinery outages. (Pg.3)
  • Analyst Views: See analyst views on oil markets by biggest research names in industry. (Pg.7)
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