Oil & Gas Prices - Mar 30

dan_s · Post by **dan_s** » Mon Mar 30, 2020 9:41 am

Opening Prices:
> WTI is down $1.37 to $20.14/Bbl, and Brent is down $2.10 to $22.83/Bbl.
> Natural gas is down 4.5c to $1.626/MMBtu.

It feels like March 97th to me.

Closing Prices:
> WTI prompt month (MAY 20) was down $1.42 on the day, to settle at $20.09/Bbl.
> In contrast, NG prompt month (MAY 20) was up $0.019 on the day, to settle at $1.690/MMBtu.

The NYMEX strip for natural gas shows that more and more traders are coming around to the possibility of a much tighter natural gas market 8 months from now. A big drop in associated gas supply is expected.