Opening Prices:
> WTI is up 29c to $41.33/Bbl, and Brent is up 41c to $43.63/Bbl.
> Natural gas is down 1.0c to $1.790/MMBtu.
EIA weekly report will be out at 9:30 AM CT
Per the American Petroleum Institute report after the markets closed yesterday, U.S. oil inventories shrank by 6.83 million barrels last week.
Also, the Bloomberg Dollar Spot index headed for its weakest close since September 2018. A weaker dollar is bullish for all commodity prices.
Oil & Gas Prices - July 29
Oil & Gas Prices - July 29
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil & Gas Prices - July 29
Closing Prices:
> WTI prompt month (SEP 20) was up $0.23 on the day, to settle at $41.27/Bbl.
> Also, NG prompt month (AUG 20) was up $0.054 on the day, to settle at $1.854/MMBtu. The January NYMEX contract for HH gas closed at $3.01 today.
From the EIA's weekly detailed report we see inventories moving lower.
Days of Supply drop over the last five weeks:
Crude oil 39.9 to 36.6 days
Gasoline 32.0 to 28.8 days
Distillates 53.6 to 52.6 days
Jet Fuel 60.1 to 37.2 days
> WTI prompt month (SEP 20) was up $0.23 on the day, to settle at $41.27/Bbl.
> Also, NG prompt month (AUG 20) was up $0.054 on the day, to settle at $1.854/MMBtu. The January NYMEX contract for HH gas closed at $3.01 today.
From the EIA's weekly detailed report we see inventories moving lower.
Days of Supply drop over the last five weeks:
Crude oil 39.9 to 36.6 days
Gasoline 32.0 to 28.8 days
Distillates 53.6 to 52.6 days
Jet Fuel 60.1 to 37.2 days
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group