Oil & Gas Prices - May 11

[dan_s]

Opening Prices:
> WTI is up 29c to $25.03/Bbl, and Brent is up 14c to $31.11/Bbl.
> Natural gas is up 2.0c to $1.843/MMBtu.

Saudi Arabia announces deeper production cuts than expected and U.S. oil production being shut-in faster than expected.
Many of the large- and mid-caps have decided to "keep it in the ground" rather than sell oil into a low price market.

Closing Prices:
> WTI prompt month (JUN 20) was down $0.60 on the day, to settle at $24.14/Bbl.
> NG prompt month (JUN 20) was up $0.003 on the day, to settle at $1.826/MMBtu.