AEGIS

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

If you skipped the April 2nd webcast, no judgment. June 11 is your redemption arc. Midyear energy markets outlook, live with Q&A. 2 PM CT → Register here: hubs.li/Q04cf_2q0

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

Gas holds steady as the EIA is set to release it's weekly gas storage report today. Production eased across much of the L48, offset by gains in Texas production. Total consumption has been even lower, below 70 Bcf/d for about a week now.

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

Crude edges higher as markets weigh a potential extension to the US–Iran ceasefire. The ongoing US blockade risks deepening the supply shock, with analysts flagging further disruption to seaborne flows.

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

Short-term price spikes don’t fully translate to hedging prices In volatile markets, such as during geopolitical events, front-month futures can spike sharply. CMA lags because it is based on later contracts and averaging, creating a price dislocaton.

"Our CFO is freaking out because AEGIS is showing a totally different price than CNBC. Did we hedge the right price and month?" There's a reason for the gap, and it's not a mistake.

Petrochemical feedstock markets have been among the most disrupted, as the closure of the Strait of Hormuz has severely constrained flows into Asia.

WTI drops below $95/bbl as traders weigh renewed US‑Iran talks. IEA now sees 2026 demand falling ~80 Mbbl/d instead of growing 730 Mbbl/d as higher prices erode demand. Have prices fully captured the scale of the supply shock, or is there still meaningful upside risk from here?

This would mark the first annual contraction since the COVID-19 pandemic, as elevated prices driven by the conflict weigh on consumption

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

WTI pushing higher as the US moves toward a Hormuz blockade and the ceasefire shows signs of breaking down after failed weekend talks. The forward curve continues to reprice higher. Cal '27 now ~$10 above where it started the year, a meaningful improvement in producer margins.

Commodity Interest Trading involves risk and, therefore, is not appropriate for all persons. Past performance is not necessarily indicative of future results. Read our full disclaimer here: aegis-hedging.com/disclaimer.

WTI prompt has whipsawed from $115 to $93 and back to $99 over the past 48 hours. The Strait of Hormuz remains largely shut, while the ceasefire looks increasingly fragile ahead of U.S.-Iran talks. The EIA expects shut-ins to peak near 9.1 MMbbl/d this month.