Energy Prices Summary – Thursday, July 23, 2020
Crude Oil (CLU20): 41.07 (-.83)
Natural Gas (NGQ20): 1.785 (+.104)
Gasoline (RRQ20): 1.2586 (-.0242)
NY ULSD (HOQ20): 1.2541 (-.0166)
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*Note – Front month crude oil is now the September (U) contract.
Oil prices fell $.83 or 2% while natural gas prices rallied $.104. The EIA reported natural gas inventories built 37 bcf (link below). Total natural gas inventories are beginning to push the high end of the five year average range.
Top Oil Price News Headlines
+ Natural Gas Weekly Storage Report – EIA
+ Oil falls on coronavirus demand concerns, weak US jobs numbers – Reuters
+ Energy’s winning wagers: Against natural gas prices, for producers – WSJ
Crude Oil Settlements
Sept 20 (CLU20) 41.07 (-.83)
Oct 20 (CLV20) 41.21 (-.83)
Dec 20 (CLZ20) 41.51 (-.77)
Dec 21 (CLZ21) 42.99 (-.44)
Crude Oil Price Spreads
CLU20 / CLV20: -.14
CLU20 / CLZ20: -.44
CLZ20 / CLZ21: -1.48
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Oil Price Resources
+ CME
+ EIA Weekly Petroleum Status Report
+ OPEC Monthly Oil Market Report
+ Commodity Research Group Podcast
Learning Resources
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+ Hedging and Financial Contracts
+ Oil 101 – Introduction to Supply, Trading, & Transportation (Member-Only Content)
+ What is the difference between Upstream and Downstream?
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