Oil & Gas Prices - June 26

[dan_s]

Opening Prices:
> WTI is down 18c to $38.54/Bbl, and Brent is up 4c to $41.09/Bbl.
> Natural gas is down 3.2c to $1.450/MMBtu.

FEAR of the virus once again is likely to keep WTI in the $30s for awhile. Strip is higher than what I am using in all of my models for Q2 and Q3.

Gas price under $1.50 is unsustainable, but has little impact on the gassers that I like because a high percentage of their 2020 gas is hedged at much higher prices.

[dan_s]

Closing Prices:
> WTI prompt month (AUG 20) was down $0.23 on the day, to settle at $38.49/Bbl.
> NG prompt month (JUL 20) was up $0.013 on the day, to settle at $1.495/MMBtu.

Considering all the COVID-19 noise I was expecting to see oil down much further.