Monday Morning Oil -- April 18, 2022

Monday morning, oil, natural gas:

• oil
• Brent: up 2.02%; up $2.26; trading at $114.00
• WTI: up 1.8%; up $1.94; trading at $108.90;
• prices are now back to where they were prior to Biden's announcement to release SPR
  
• natural gas: contango. $8+ in January, 2023; right now: $8.00; up 9.3%
  
• oil, gasoline: somewhat unvarying during the seasons, at least compared to natural gas;
• natural gas: quite seasonally variable
• and, so it goes
• crude oil, one major exception: very seasonal in Mideast

Saudi crude oil exports: previously posted in graphic form; now the article;
Saudi crude oil exports jump to highest level since April, 2020
reminder: global lock downs began March, 2020

• Saudi crude oil exports jumped to 7.307 million barrels per day in February.
• Saudi crude oil exports topped the 7-million-bpd mark for the first time since the start of the pandemic.
• JODI: Saudi crude oil and oil products closing stocks in February rose by 316,000 bpd to 235.8 million barrels.

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Easter Sunday, 2022

Levi, Judah and their dad.