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Oil Prices Daily Summary: Thursday, July 23, 2020

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Oil Prices Daily

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 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.

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Daily Crude Oil Price Chart

clu20daily072320

Intraday Crude Oil Price Chart

clu20intraday072320


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?

 


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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.

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