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Energies Futures Prices

Wed, Oct 21st, 2020
[[ timeframe ]] futures price quotes as of Wed, Oct 21st, 2020.
Latest price quotes as of [[ snapshotDate ]].
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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Futures Market News and Commentary

WTI Crude Closes at a 1-Month High on Dollar Weakness and Stimulus Optimism

Dec WTI crude oil (CLZ20) on Tuesday closed up +0.64 (+1.56%), Dec Brent crude oil (CBZ20) closed up +0.54 (+1.24%), and Dec RBOB gasoline (RBZ20) closed up +0.0240 (+2.09%).

On Tuesday, the energy complex shook off early losses and moved higher, with WTI crude climbing to a 1-month high. A slump in the dollar index to a 1-month low Tuesday boosted crude prices along with optimism that U.S. lawmakers will finally pass a pandemic relief package, would be positive for economic growth and energy demand. Energy prices on Tuesday initially opened lower on concern that rising Covid infections throughout the world will lead to more stay-at-home orders that curb fuel demand.

Tuesday's U.S economic data was mixed for economic growth and energy demand. U.S. Sep housing starts rose +1.5% to 1.415 million, weaker than expectations of +1.465 million. However, Sep building permits, a proxy for future construction, rose +5.2% to a 13-1/2 year high of 1.553 million, stronger than expe... Read more

Natural Gas Prices Settle at a 1-Week High as LNG Exports Rebound after U.S. Shipping Channels Reopen

Nov Nymex natural gas (NGX20) on Tuesday closed up +0.118 (+4.22%).

Nov nat-gas prices on Tuesday settled sharply higher and posted a 1-week high on signs of stronger U.S. nat-gas export demand. Gas flows to U.S LNG export terminals on Tuesday were 8.6 bcf, up +17% from Monday. Ship channels to two of the largest LNG U.S. export terminals are slowly reopening to tanker traffic, which boosting exports. The Sabine Bank Channel and the Calcasieu Ship Channel are working to reopen after they were temporarily closed to remove obstructions in the channels caused by Hurricane Delta.

Signs of strength in U.S. nat-gas demand are bullish for prices as total nat-gas consumption in the lower 48 U.S. states on Tuesday was up +3.1% y/y at 67.9 bcf.

Nat-gas prices also have support from forecasts for colder weather in the U.S. Maxar said today that a cold front is expected to move into the Rockies and Midwest Oct 25-29, and that the forecast trends colder for the South and Eas... Read more

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