Oil & Gas Prices - Oct 7
Posted: Wed Oct 07, 2020 8:30 am
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.
> 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.