Oil & Gas Prices - May 19

[dan_s]

Opening Prices:
> WTI is up 57c to $32.39/Bbl, and Brent is up 9c to $34.90/Bbl.
> Natural gas is up 4.2c to $1.825/MMBtu.

Closing Prices:
> WTI prompt month (JUN 20) was up $0.68 on the day, to settle at $32.50/Bbl.
> NG prompt month (JUN 20) was up $0.047 on the day, to settle at $1.830/MMBtu.

Today is the final day of trading for June NYMEX contract for WTI.
> Whoever holds long positions at the end of trading today much take delivery of 1,000 barrels per contract.
> Whoever holds short positions at the end of trading today must deliver 1,000 barrels per contract to Cushing, OK.

Natural gas futures raced higher Monday as supply/demand balances finally started to move in a more supportive direction for prices. With a further push from the cash market, the June Nymex gas futures contract settled up 13.7 cents from Friday’s close at $1.783. July jumped 12.6 cents to $1.959.

Spot gas prices were sharply higher on Monday, driven by gains of nearly 50 cents in the Northeast
Read more: https://www.naturalgasintel.com/article ... allies-too

EIA projected in its productivity report that U.S. natural gas output would decline for a seventh month in a row to 81.5 billion cubic feet per day (bcfd) in June. That would be down almost 0.8 bcfd from the agency’s forecast for May. U.S. output from the big shale fields hit a monthly all-time high of 86.3 bcfd in November.