Oil & Gas Prices - Nov 12

dan_s · Post by **dan_s** » Thu Nov 12, 2020 9:55 am

Opening Prices:
> WTI oil is up $0.34 at $41.79
> HH natural gas is down $0.024 at $3.007

EIA's weekly oil and natural gas reports will be out at 10:30 AM ET.

Here is one take on what a President Biden will do for oil prices: https://seekingalpha.com/article/438822 ... oil-prices

MY TAKE is that if Biden goes down this path to $100/bbl oil and over $3.50/gallon gasoline prices, the Democrats will get killed in the 2022 midterms.
Higher taxes, fewer jobs, and higher fuel and utility bills for consumers is not a recipe for votes.

Note in the article that without growing supply from U.S. shale, OPEC+ won't be able to keep up with global demand growth.