EKT Interactive

Oil and Gas Training Courses For New Learners and Experienced Professionals

  • Courses
  • Oil Prices Daily
  • Podcasts
    • All Episodes
    • Oil 101 – The Podcast
    • The Drill Down
    • Commodity Research Group
    • Sound Off
    • Upstream Intelligence
  • Login
Don’t show this message again.

Cookie Use Notice

This website uses cookies to provide you with a great user experience.

Oil Prices Daily Summary: Wednesday, July 22, 2020

Tweet
Share
Pin
Share
0 Shares

Oil Prices Daily

Energy Prices Summary – Wednesday, July 22, 2020

Crude Oil (CLU20): 41.90 (-.02)
Natural Gas (NGQ20): 1.681 (+.006)
Gasoline (RRQ20): 1.2828 (+.0031)
NY ULSD (HOQ20): 1.2707(-.0093)

 


Think a friend will enjoy Oil Prices Daily?  They can sign up here!


 

*Note – Front month crude oil is now the September (U) contract.

Oil prices opened lower but managed to recover above the important 41.74 (September contract) technical support level despite the EIA reporting a 4.9 million barrel build in crude oil inventories.  Reuters poll consensus among oil analysts was for a draw of about 2 million barrels.

Refinery runs are reported at 77.9%.

“Overall this would suggest that the demand recovery we’ve seen from the bottom seems to be stalling,” said Phil Flynn, senior analyst at Price Futures group in Chicago.

In the EIA report (link below) I think it is important to note that despite the plummeting rig count and production numbers, crude oil inventories in the US remain 19% over the 5 year average.

 

Top Oil Price News Headlines

+ Weekly Petroleum Status Report Highlights – EIA

+ US Petroleum Balance Sheet – EIA

+ Oil falls as US posts surprise rise in inventories – Reuters

+ US crude, distillate stockpiles rise unexpectedly: EIA – Reuters

“Despite Mexico’s success, no other major oil-producing country has followed suit with a similarly large hedge. ”

+ Russia considers oil price hedges modeled on Mexico’s system – World Oil

 

Crude Oil Settlements

Sept 20 (CLU20) 41.90 (-.02)
Dec 20 (CLZ20) 42.28 (+.02)
Dec 21 (CLZ21) 43.43 (+.06)

 

Crude Oil Price Spreads

CLU20 / CLZ20:  -.38
CLZ20 / CLZ21:  -1.15

 


SPONSOR: Oil 101 – An Introduction to Oil and Gas

Oil 101Oil 101, our core oil and gas industry overview, has been used by companies and individuals alike to get a leg up on their competitors.  Learn more about Oil 101 and take a free preview here.

Need Oil 101 for your team?  Get in touch.  We help teams onboard new members quickly and efficiently with a learning experience targeted to their needs.

Oil 101 from EKT Interactive – Effective, affordable oil and gas training for companies and individuals.


 

Daily Crude Oil Price Chart

clu20dailyoilpriceschart072220

Intraday Crude Oil Price Chart

clu20intradayoilpricechart072220


Oil Price Resources

+ CME

+ EIA Weekly Petroleum Status Report

+ OPEC Monthly Oil Market Report

+ NatGasWeather

+ Commodity Research Group Podcast

 


Learning Resources

Want to learn more about concepts related to oil trading, financial contracts, hedging, and commodity price volatility?  Here are some resources that are available to learn more:

+ Crude Oil Futures Contracts

+ Contango vs Backwardation

+ Hedging and Financial Contracts

+ Oil 101 – Introduction to Supply, Trading, & Transportation (Member-Only Content)

+ What is the difference between Upstream and Downstream?

 


Too Much of a Good Thing?

If daily emails are too much for you right now, you can opt out of Oil Prices Daily anytime by clicking here.

 


 

Tweet
Share
Pin
Share
0 Shares

Written by Doug Stetzer · Categorized: Oil Prices Daily · Tagged: crude oil prices, oil prices, oil prices daily

Recommended Reading:

Daniel Yergin's upcoming book release: The Prize: The definitive book on the modern history of oil: The Frackers: An informative and entertaining history of how fracking changed the oil and gas industry: Rigged: The True Story of an Ivy League Kid Who Changed the World of Oil, from Wall Street to Dubai

About Doug Stetzer

Doug Stetzer is Vice President of Content and Community for EKT Interactive.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

EKT Interactive | 9813 Shadow Wood Dr. | Houston, TX 77080
  • Courses
  • Podcasts
  • Privacy Policy
  • Contact

© 2021 EKT Interactive · Rainmaker Platform