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UBS On-Air: Market Moves
Top of the Morning: US Energy Sector & Oil prices
Sep 20, 2023
Jay Dobson, Energy & Utilities Analyst Americas, UBS Chief Investment Office, discusses the current state of the US energy sector, oil prices, and the outlook for crude oil and natural gas. They also delve into the risks, trends, and opportunities in the energy transition, highlighting the importance of decarbonization and potential in carbon capture and biofuels. The chapter concludes by discussing the attractiveness of integrated oil companies and exploration companies in the current oil price environment.
17:06
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Quick takeaways
- Crude oil prices are expected to end the year around $91 per barrel with a trading range of mid-80s to mid-90s per barrel, while natural gas prices may rise to $3.10 per unit by year-end but revert back to below $3 per unit by the end of winter.
- Several factors such as positive outlook for oil prices, steady growth in production, improved efficiency in operations, strong demand, and attractive valuations make the US energy sector a preferred investment option.
Deep dives
Outlook for Oil and Natural Gas Prices
Looking ahead, the podcast discusses a constructive view on crude oil prices, expecting them to end the year around $91 per barrel. However, the near-term outlook suggests a trading range of mid-80s to mid-90s per barrel. On the other hand, natural gas prices are more cautious due to high storage levels and a seasonal decline in demand. While prices may rise to around $3.10 per unit by year-end, they are expected to revert back to below $3 per unit by the end of winter.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode