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Energy Prices Summary – Tuesday, November 19, 2019
Crude Oil (CLZ19): 55.21 (-1.84)
Natural Gas (NGZ19): 2.510 (-.056)
NY ULSD (HOZ19): 1.8574 (-.0473)
Gasoline (RBZ19): 1.6037 (-.0173)
Oil prices dropped almost $2, or 3%, and are threatening to break critical support of the trading range they have been in since October. Natural gas prices continue to erase the gains made before cold weather blew into the Northeast two weeks ago.
In the chart of the day below, USLD breaks trendline support and signals a move is possible towards the contract lows from August.
Key to the full commodity market breakdown is comments out of China that the impeachment trial may have an affect on a resolution of the trade disputes.
Chart of the Day – Daily USLD
Top Oil Price News Headlines
+ Oil falls more than 3% on oversupply fears, trade talk concerns – CNBC
+ Natural gas corrects, let the wild ride begin – Seeking Alpha
Crude Oil Settlements
Dec 19 (CLZ19) 55.21 (-1.84)
Jan 20 (CLF20) 55.35 (-1.79)
Dec 20 (CLZ20) 52.27 (-1.13)
Dec 21 (CLZ21) 50.96 (-.77)
Crude Oil Price Spreads
CLZ19 / CLF20: -.14
CLZ19 / CLZ20: +2.94
CLZ20 / CLZ21: +1.31
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Oil Price Resources
+ CME
+ EIA Weekly Petroleum Status Report
+ OPEC Monthly Oil Market Report
+ Commodity Research Group Podcast
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