WTI is up 17c to $52.98/Bbl, and Brent is up 5c to $58.79/Bbl.
Natural gas is up 1.9c to $2.358/MMBtu.
Oil Price - Oct 16
Oil Price - Oct 16
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil Price - Oct 16
(Bloomberg) -- Crude oil prices climbed as U.S. President Donald Trump signaled a trade deal with China might be coming soon.
Futures rose as much as 1.6% on Wednesday in New York. President Trump said a trade deal with China will probably not be signed until a November meeting with Chinese President Xi Jinping at the APEC summit in Chile. Meanwhile, a weaker dollar also helped support the price of oil.
“The encouraging headlines surrounding the U.S.-China trade war and Brexit, seem more optimistic,” said Pavel Molchanov, a Houston-based analyst at Raymond James & Associates Inc. “In that sense, it’s perfectly reasonable for oil prices to show a bit of a bounce.”
Futures rose as much as 1.6% on Wednesday in New York. President Trump said a trade deal with China will probably not be signed until a November meeting with Chinese President Xi Jinping at the APEC summit in Chile. Meanwhile, a weaker dollar also helped support the price of oil.
“The encouraging headlines surrounding the U.S.-China trade war and Brexit, seem more optimistic,” said Pavel Molchanov, a Houston-based analyst at Raymond James & Associates Inc. “In that sense, it’s perfectly reasonable for oil prices to show a bit of a bounce.”
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil Price - Oct 16
Closing Prices:
WTI prompt month (NOV 19) was up $0.55 on the day, to settle at $53.36/Bbl.
NG prompt month (NOV 19) was down $0.036 on the day, to settle at $2.303/MMBtu.
WTI prompt month (NOV 19) was up $0.55 on the day, to settle at $53.36/Bbl.
NG prompt month (NOV 19) was down $0.036 on the day, to settle at $2.303/MMBtu.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group