Commodities – Brent Crude and Natural Gas 5/14/13

Brent Crude

On May 14th the June Brent contracts were trading at $102.72/bbl which was down $0.37/bbl from the day before.  Data from the US and China has not been very constructive for the Brent, with US gasoline sales down 4.7% y/y in April.

Natural Gas

The forecast is for 90-100Bcf inventories injection for week ending May 10th 2013, up from the 2012 injection of 87Bcf.  UBS’s estimate of Natural Gas inventories increase is 1,960Bcf; this is compared to the average 5 year number of 82Bcf.

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