Oil & Gas Prices - Feb 18

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Oil & Gas Prices - Feb 18

Post by dan_s »

Opening Prices:
WTI is down $1.05 to $51.00/Bbl, and Brent is down $1.23 to $56.44/Bbl.
Natural gas is up 11.8c to $1.955/MMBtu.

MY TAKE:
> Oil traders are reacting to Apple's lower guidance for iPhone sales. At the time of this post (9:15AM CT), WTI is down just just $0.50.
> Natural gas up on anticipation of a large draw from storage for the week ending Feb. 14 and a colder than normal forecast for the first half of March.

Closing Prices:
> WTI prompt month (MAR 20) was unchanged $0.00 on the day, to settle at $52.05/Bbl. < Very strong move up into the close is encouraging.
> NG prompt month (MAR 20) was up $0.144 on the day, to settle at $1.981/MMBtu.
Dan Steffens
Energy Prospectus Group
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