Energy year-end review

• Natural gas
  • A busy year for natural gas!
    • Final activation halted on Russian Nord Stream 2 pipeline
    • Russian exports of gas on Nord Stream 1 pipeline a no-go
    • Explosion at Freeport, TX LNG facility
  • EIA inventories continue to lag both 2021 levels and five-year average
  • What to watch for in 2023:
    • Winter weather and drawdown in inventory
    • Ukraine, China's re-opening, and potential recession
• Crude oil
  • Average price of crude oil 39% above 2021
  • Record-high gasoline and diesel prices last June
  • Global crude demand to slow but could be offset by China and SPR

• Be on the lookout for your invite to our upcoming Risk Management webinar!
  • Wednesday, January 25
• McKeany-Flavell’s Spring Market Seminar is happening on April 26, 2023!
  • Mark your calendars, registration opens in January!
• Happy New Year!

Host/Expert: Shawn Bingham, Director of Risk Management
Expert: Jeffrey Rasinski, Consultant