Oil & Gas Prices - Oct 7

[dan_s]

Opening Prices:
> WTI is down 67c to $40.00/Bbl, and Brent is up 51c to $42.05/Bbl.
> Natural gas is up 7.5c to $2.595/MMBtu.

Crude trading lower as stimulus talks suspended.

EIA weekly Petroleum report will be out at 9:30AM CT

Hurricane Delta made landfall in Mexico around Cancun, weakened to a Cat 2 over land but is expected to ramp back to a Cat 4 tomorrow. It will hit the U.S. Gulf Coast on Friday as a Cat 3 or 4 somewhere from the SE coast of Texas to Alabama. Most likely track is over Central Louisiana. Lot of GOM oil & gas production has already been shut in.

Near Term: There’s More Upside For Natural Gas Prices
By Irina Slav - Oct 06, 2020, 1:00 PM CDT
https://oilprice.com/Energy/Energy-Gene ... rices.html

Global demand for natural gas is increasing at 3X the rate of increase for oil demand.

[dan_s]

Closing prices:
> WTI prompt month (NOV 20) was down $0.72 on the day, to settle at $39.95/Bbl.
> In contrast, NG prompt month (NOV 20) was up $0.086 on the day, to settle at $2.606/MMBtu.

If you listened to the Aegis Energy webinar (link sent to you via email today) you now know why the near-term outlook for natural gas is bullish.