Energy Prices Summary – Friday, July 24, 2020
Crude Oil (CLU20): 41.29 (+.22)
Natural Gas (NGQ20): 1.808 (+.023)
Gasoline (RRQ20): 1.2848 (+.0262)
NY ULSD (HOQ20): 1.2563 (+.0022)
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Oil prices rose $.22 to settle at $41.29 in a somewhat directionless week, yet the up-trend has been maintained and new highs put up.
The weekly crude oil chart below helps take out some of the daily noise to show a narrow-ranged but slowly upward ticking market with higher highs and higher lows over the last four weeks.
However, traders seem reluctant to bite too hard on any piece of economic or coronavirus news as the headlines shift day to day.
Have a great weekend everyone!
Top Oil Price News Headlines
ConocoPhillips will report earnings on July 30, with Exxon Mobil and Chevron expected to follow on July 31.
+ Frac is back – Rigzone
U.S. fracking is set for its first monthly rise this year, according to a new Rystad Energy analysis.
Crude Oil Settlements
Sept 20 (CLU20) 41.29 (+.22)
Oct 20 (CLV20) 41.45 (+.24)
Dec 20 (CLZ20) 41.82 (+.31)
Dec 21 (CLZ21) 43.50 (+.51)
Crude Oil Price Spreads
CLU20 / CLV20: -.16
CLU20 / CLZ20: -.53
CLZ20 / CLZ21: -1.68
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Daily Crude Oil Price Chart
Intraday Crude Oil Price Chart
Oil Price 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:
+ Oil 101 – Introduction to Supply, Trading, & Transportation (Member-Only Content)
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