Oil & Gas Prices at the close on June 30

[dan_s]

Closing Prices:
> WTI prompt month (AUG 21) was up $0.49 on the day, to settle at $73.47/Bbl.
> Also, NG prompt month (AUG 21) was up $0.020 on the day, to settle at $3.650/MMBtu.

This wraps up one of the best, if not the best quarter for oil and gas prices EVER.
I expect tomorrow's natural gas storage report to show the deficit to the 5-year average continuing to grow.
If these prices hold, it is going to be an extremely profitable 2H 2021 for the upstream companies that I follow.

All Eyes on OPEC+ tomorrow.
OPEC Secretary-General said Tuesday that oil demand is expected to rise by 6 million barrels per day this year, with 5 million bpd of that coming in H2 2021. OPEC+ will meet this week and the group is expected to increase supply for August by around 550,000 bpd. Meanwhile, both EIA and API data showed US crude stockpiles declined more than expected last week. Still, a surge in COVID-19 cases in Asia and the rapid spread of the Delta variant of coronavirus in some European countries may limit the upside momentum.

[Fraser921]

NG shot to the moon after hours, maybe traders squaring positions at end of the qtr.