DBE

US oil production likely saw its relative low in May, but current prices are not high enough to incentivize an acceleration in upstream activity, though the rig count appears to have stabilized.Oil production is expected to remain largely steady throughout the rest of 2020 and most of next year before trending upward later in 2021.Midstream is well-positioned to withstand the pressured commodity price environment relative to its energy peers, as its fee-based business model and contract protections support greater cash flow stability.

The latest stockpile data pushes the amount of gas in storage above the 2019 peak.Four trillion cubic feet is the next stop.October futures roll to November. Seasonality created the contango that is shrinking after the roll period.Levels to watch in November natural gas futures.BOIL and KOLD for trading. UNG on any significant dip in October.