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Oil & Gas Prices - August 21
Posted: Fri Aug 21, 2020 8:35 am
by dan_s
Opening Prices:
> WTI is down 42c to $42.40/Bbl, and Brent is down 44c to $44.46/Bbl.
> Natural gas is down 4.0c to $2.312/MMBtu.
Re: Oil & Gas Prices - August 21
Posted: Fri Aug 21, 2020 5:18 pm
by dan_s
Closing Prices:
> WTI prompt month (OCT 20) was down $0.48 on the day, to settle at $42.34/Bbl.
> In contrast, NG prompt month (SEP 20) was up $0.096 on the day, to settle at $2.448/MMBtu.
After the dip for natural gas during the first hour of trading it took off from the 2.28 low for the day to 2.47 before a pull back into the close. Traders shorting the front month contract do not want to hold it over the weekend and next week they must cover.
For WTI there is STRONG RESISTANCE at $43 that must be broken before oil can move higher.