Oil & Gas Prices - Feb 25

[dan_s]

Opening Prices:
WTI is down 4c to $51.39/Bbl, and Brent is down 10c to $56.20/Bbl.
Natural gas is up 1.8c to $1.845/MMBtu.

Closing Prices:
WTI prompt month (APR 20) was down $1.53 on the day, to settle at $49.90/Bbl. < CDC warning U.S. to prepare for COVID-19 outbreak caused the selloff.
NG prompt month (MAR 20) was up $0.020 on the day, to settle at $1.847/MMBtu.

2019 WTI average prices by quarter:
Q1 = $54.87
Q2 = $59.89 < peaked at close to $65 in mid-April
Q3 = $56.40
Q4 = $56.86

Raymond James new WTI price forecast for 2020:
Q1 = $54.00 < This is about where it is so far since the first week was over $60.
Q2 = $56.00
Q3 = $60.00
Q4 = $70.00 < If not for the coronavirus, WTI would be over $60.00 today.

COVIT-19 stats from John Hopkins University website: https://gisanddata.maps.arcgis.com/apps ... 7b48e9ecf6
> 80,289 confirmed cases, 2,704 deaths and 27,840 fully recovered
> 2,663 of the the 2,704 who have died (98.5%) from the virus are from Mainland China

[dan_s]

I just checked and the sky isn't falling.