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Crude $0.79

Posted on: March 13, 2017

Crude WTI prompt contracts moved within a $1.80 range, settling $0.79 to $48.49 and closing the week off 9% lower. Rampant US shale production continues to raise concerns that OPEC may not extend their cuts after the agreement ceases in June. It didn’t help that US oil rig count rose for the eighth consecutive week to 617 according to Baker Hughes.

CERAconference in Houston discussed lower breakeven costs and higher efficiencies among participants which adds to the risk of oversupply and production stability.


Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.


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