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The ZLT was up slightly last week as the oily names and oil service mounted a modest pre quarter bump higher on the OPEC announcement. The facts that 1) everything gapped Monday morning leaving few willing to chase names higher, 2) it was a holiday shortened week, and 3) the close proximity of the 1Q season yielded a sort of apathetic looking move. We think it's short sighted to be concerned about that and see the move as bolstering pricing especially in 2H23. Please see The Week That Was in tomorrow's post for additional comments.
Questions and comments under The Wrap will be addressed in the Monday post.
Questions about the site may be addressed to zman@zmansenergybrain.com.
For those that missed the Gas Graphs due to the Good Friday market closure we've included them here.
Have a good weekend,
Z
