Opening Prices:
> WTI is up $2.18 to $39.25/Bbl, and Brent is up $2.13 to $41.40/Bbl.
> Natural gas is up 22.6c to $2.665/MMBtu.
At 10AM CT we sent out an email invitation to the Aegis Energy webinar tomorrow. These guys are EXPERTS on what is happening in the U.S. natural gas market. I highly recommend that you sign up to attend their webinar. If we get just a normal winter in the U.S., natural gas prices will go a lot higher in just a few months and there is a good chance all of our "gassers" stock prices will double within six months.
BTW on the Weather Bell Saturday summary (watch it here: https://www.weatherbell.com/premium/ ) Dr. Bastardi said that weather patterns are setting up for a colder winter than his original winter forecast. Also, Hurricane Delta is going to cause a lot of GOM production to be shut-in later this week. Plus, spot prices for LNG in Asia are heading higher.
Closing Prices:
> WTI prompt month (NOV 20) was up $2.17 on the day, to settle at $39.22/Bbl.
> NG prompt month (NOV 20) was up $0.177 on the day, to settle at $2.615/MMBtu. < The DEC 20 HH contract closed at $3.193.
Oil & Gas Prices - Oct 5
Oil & Gas Prices - Oct 5
Last edited by dan_s on Mon Oct 05, 2020 5:10 pm, edited 1 time in total.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil & Gas Prices - Oct 5
Investing.com – Crude oil prices settled higher Monday, as President Donald Trump confirmed he would be discharged from the hospital, while fears of supply disruptions also boosted sentiment.
On the New York Mercantile Exchange crude futures for February delivery rose 5.9% to settle at $39.22 a barrel, while on London's Intercontinental Exchange (NYSE:ICE), Brent rose 5.9% to trade at $41.57 a barrel.
President Donald Trump said that he will be leaving Walter Reed National Military Medical Center at 6:30 p.m. ET on Monday.
Expectations for supply disruptions pushed oil prices higher following a strike in the oil and gas industry in Norway.
A strike is looming in the Norwegian oil and gas industry as estimates say as much as 330,000 barrels of oil equivalent lost per day, i.e. 8% of Norway’s oil and gas production, Commerzbank (DE:CBKG) said in a note, citing an estimate from the Norwegian Oil and Gas Association.
The bank said that while the hit to global production would not result in any serious tightening of supply on the market, it comes at a time of heightened concerns about demand and fears of renewed oversupply.
Expectations for supply disruption were strengthened as energy companies began winding down operations in advance of Tropical Storm Delta, which is forecast to move into the Gulf of Mexico, home to 17% of U.S. crude production.
The potential for supply disruptions was weighed against further signs that some OPEC members, part of the production-cut accord, continue to ramp up production.
OPEC-member Libya output has risen by about 20,000 barrels per day (bpd) from last week to reach 290,000 bpd, Reuters reported on Monday, citing a Libyan oil source.
On the New York Mercantile Exchange crude futures for February delivery rose 5.9% to settle at $39.22 a barrel, while on London's Intercontinental Exchange (NYSE:ICE), Brent rose 5.9% to trade at $41.57 a barrel.
President Donald Trump said that he will be leaving Walter Reed National Military Medical Center at 6:30 p.m. ET on Monday.
Expectations for supply disruptions pushed oil prices higher following a strike in the oil and gas industry in Norway.
A strike is looming in the Norwegian oil and gas industry as estimates say as much as 330,000 barrels of oil equivalent lost per day, i.e. 8% of Norway’s oil and gas production, Commerzbank (DE:CBKG) said in a note, citing an estimate from the Norwegian Oil and Gas Association.
The bank said that while the hit to global production would not result in any serious tightening of supply on the market, it comes at a time of heightened concerns about demand and fears of renewed oversupply.
Expectations for supply disruption were strengthened as energy companies began winding down operations in advance of Tropical Storm Delta, which is forecast to move into the Gulf of Mexico, home to 17% of U.S. crude production.
The potential for supply disruptions was weighed against further signs that some OPEC members, part of the production-cut accord, continue to ramp up production.
OPEC-member Libya output has risen by about 20,000 barrels per day (bpd) from last week to reach 290,000 bpd, Reuters reported on Monday, citing a Libyan oil source.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group