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Energy Prices Summary – Monday, June 29, 2020
Crude Oil (CLQ20): 39.70 (+1.21)
Natural Gas (NGN20): 1.709 (+.165)
NY ULSD (HON20): 1.1654 (+.0291)
Gasoline (RRN20): 1.1841 (+.0308)
Oil prices rallied over 3% and, as the daily chart below indicates, seems to be finding some support. However, it is important to note that volume was low at 700,000 and staying above $40 has been tough as of late.
EIA data on gasoline demand will be important to maintain the upward momentum.
Natural gas had a huge day rallying almost 11%, perhaps on concerns that low prices and impending bankruptcies (such as Chesapeake Energy) will lead to a plunge in supplies at some point. However, natural gas remains in a severe down trend (chart below).
Chart of the Day – Natural Gas Prices Rally, Still Locked in Down Trend
Top Oil Price News Headlines
+ Natural gas rejects lows – FX Empire
Crude Oil Settlements
Aug 20 (CLQ20) 39.70 (+1.21)
Sept 20 (CLF20) 39.81 (+1.16)
Dec 20 (CLZ20) 40.17 (+1.10)
Dec 21 (CLZ21) 41.48 (+.95)
Crude Oil Price Spreads
CLQ20 / CLU20: -.11
CLU20 / CLZ20: -.36
CLZ20 / CLZ21: -1.31
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Daily Crude Oil Price Chart
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Oil Price Resources
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+ Oil 101 – Introduction to Supply, Trading, & Transportation (Member-Only Content)
+ Hedging and Financial Contracts (Member-Only Content)
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