Oil & Gas Prices - Feb 21

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

Oil & Gas Prices - Feb 21

Post by dan_s »

Opening Prices:
WTI is down 93c to $52.95/Bbl, and Brent is down $1.21 to $58.10/Bbl.
Natural gas is down 3.3c to $1.887/MMBtu.

Closing Prices:
WTI prompt month (APR 20) was down $0.50 on the day, to settle at $53.38/Bbl.
NG prompt month (MAR 20) was down $0.015 on the day, to settle at $1.905/MMBtu.

Both oil and gas rebounded from this mornings selloff. MY TAKE is that WTI will move over $55/bbl by the end of March and over $60/bbl by the end of June. We just need to get past the hyped up FEAR of the coronavirus. So far this winter over 29 million people in the U.S. have gotten the seasonal flu and 19,000 have died, primarily older people in poor health prior to getting the flu. The global number of people that have the coronavirus is less than 100,000 and only 2,250 have died. Only 11 death outside of China.
Dan Steffens
Energy Prospectus Group
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