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Oil & Gas Prices - July 20
Posted: Mon Jul 20, 2020 8:39 am
by dan_s
Opening Prices:
> WTI is down 34c to $40.25/Bbl, and Brent is down 36c to $42.78/Bbl.
> Natural gas is down 2.5c to $1.693/MMBtu.
Re: Oil & Gas Prices - July 20
Posted: Mon Jul 20, 2020 5:32 pm
by dan_s
Closing Prices:
> Prompt month WTI (AUG 20) was up $0.22 on the day, to settle at $40.81/Bbl.
> In contrast, NG prompt month (AUG 20) was down $0.077 on the day, to settle at $1.641/MMBtu.
Oil finished higher on Monday, with prices holding above $40 a barrel, as positive trial results for a coronavirus vaccine helped to offset energy-demand concerns tied to the rise in global cases of COVID-19 above 14.5 million.
Risk appetite got a boost “on the back of news that a closely watched coronavirus vaccine being developed by the University of Oxford and AstraZeneca appeared safe and triggered an immune response in trials,” said Fawad Razaqzada, market analyst at ThinkMarkets.
Still, “over the past few weeks, crude oil prices have actually been uncharacteristically quiet, suggesting a potentially sharp move could be on the cards soon,” he said in a market update. “Hopes over improving demand conditions may keep the bulls happy.”
A medical journal published a story that found that AstraZeneca’s vaccine candidate produced antibodies in an early clinical trial.