Oil & Gas Prices - Feb 19

[dan_s]

London: Oil gains as optimism grows economic impact of coronavirus outbreak may be brief
Oil prices gained 1% on Wednesday, with Brent rising a seventh straight day, amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a U.S. move to cut more Venezuelan crude from the market.

CAIRO, Feb 18 (Reuters) - Libya’s oil production stood at 123,537 barrels per day as of Feb. 18, Libya’s national oil corporation announced in a statement on Tuesday. The statement added that losses from the oil blockade exceeded $1.7 billion. < The loss of supply from Libya is double the loss of demand from China.

Opening prices:
WTI is up 64c to $52.69/Bbl, and Brent is up 83c to $58.58/Bbl.
Natural gas is down 1.6c to $1.965/MMBtu.

Closing prices
WTI prompt month (MAR 20) was up $1.24 on the day, to settle at $53.29/Bbl. < FEAR of the coronavirus is starting to move back from cliff.
NG prompt month (MAR 20) was down $0.026 on the day, to settle at $1.955/MMBtu.