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Oil Prices Daily Summary: Tuesday, November 19, 2019

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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 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

 

Intraday Crude Oil Price Chart

 


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

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

+ Hedging and Financial Contracts (Member-Only Content)

 


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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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