Oil & Gas Prices - Sept 3
Posted: Thu Sep 03, 2020 10:26 am
Opening Prices:
> WTI is down $1.08 to $40.43/Bbl, and Brent is down $1.10 to $43.33/Bbl.
> Natural gas is up 1.6c to $2.502/MMBtu.
The only negative that I saw in yesterday's EIA Petroleum Report was the 5.3% drop in the refinery utilization rate, which was caused by Hurricane Laura shut-ins. Traders view the refinery utilization rate as a leading indicator of demand for refined product, which it is. However, in this case it just precautions take as the hurricane approached.
> WTI is down $1.08 to $40.43/Bbl, and Brent is down $1.10 to $43.33/Bbl.
> Natural gas is up 1.6c to $2.502/MMBtu.
The only negative that I saw in yesterday's EIA Petroleum Report was the 5.3% drop in the refinery utilization rate, which was caused by Hurricane Laura shut-ins. Traders view the refinery utilization rate as a leading indicator of demand for refined product, which it is. However, in this case it just precautions take as the hurricane approached.