Opening Prices:
> WTI is up 33c to $23.96/Bbl, and Brent is up 7c to $31.94/Bbl.
> Natural gas is down 1.9c to $1.833/MMBtu.
EIA weekly report is expected to show a big increase in crude oil storage for the week ending April 3.
Oil & Gas Prices - April 8
Oil & Gas Prices - April 8
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil & Gas Prices - April 8
Closing Prices:
> WTI prompt month (MAY 20) was up $1.46 on the day, to settle at $25.09/Bbl.
> In contrast, NG prompt month (MAY 20) was down $0.069 on the day, to settle at $1.783/MMBtu.
You may have noticed that the oil price and natural gas price often go in opposite directions. That is because (a) oil prices are set on the global market and ngas prices are set on regional markets and (b) lower oil prices are actually bullish for the North American natural gas market and to a lesser extent the NGL market.
It is extremely important to know the production mix of the upstream companies that your own
> WTI prompt month (MAY 20) was up $1.46 on the day, to settle at $25.09/Bbl.
> In contrast, NG prompt month (MAY 20) was down $0.069 on the day, to settle at $1.783/MMBtu.
You may have noticed that the oil price and natural gas price often go in opposite directions. That is because (a) oil prices are set on the global market and ngas prices are set on regional markets and (b) lower oil prices are actually bullish for the North American natural gas market and to a lesser extent the NGL market.
It is extremely important to know the production mix of the upstream companies that your own
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group