COVID-19 Response
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 The oil market continued on its downward trend

August 20, 2021
Recap: The oil market continued on its downward trend on Thursday, falling for a sixth consecutive session.  The market sold off sharply as it was once again pressured by a stronger U.S. dollar and concerns over weaker demand as the newest wave of coronavirus infections throughou ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $3.852 on Wednesday, August 18th

August 19, 2021
Wednesday, August 18th saw the front-month NYMEX Natural Gas Futures Contract open at $3.865, four cents below Tuesday’s closing price of $3.826. The price dropped sharply in the first hour of trading to the intraday low of $3.789 then immediately bounced back to what would be th ... Read More

The EIA reported a larger than expected draw in U.S. crude inventories of 3.2 million barrels to 435.5 million barrels

August 19, 2021
Recap: The oil market, which looked set to post another inside trading day early in the session, sold off and continued on its downward trend.  The market was pressured as traders remained concerned about the outlook for demand as COVID-19 cases surge worldwide.  The market also ... Read More
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Oil futures pared earlier gains to slip for the fourth straight session

August 18, 2021
Recap: Oil futures pared earlier gains to slip for the fourth straight session on Tuesday, as surging cases of the coronavirus across the globe continue to paint a grim picture for demand and as OPEC and its allies believe the market does not need more oil. Japan, the world's thi ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $3.837 on Tuesday, August 17th

August 18, 2021
Tuesday, August 17th saw the front-month NYMEX Natural Gas Futures Contract open at $3.892, five cents below Monday’s closing price of $3.946. The price steadily fell throughout the day until hitting an intraday low of 3.803 at 2:00pm. Besides a small spike at 2:30, trading was r ... Read More

Oil prices retreated as cases of the Delta variant of the coronavirus surge around the world

August 17, 2021
Recap: Oil futures fell for the third straight session on Monday after data from China’s economic recovery slowed more than anticipated last month. Oil prices retreated as cases of the Delta variant of the coronavirus surge around the world, fueling fears that a new wave of trave ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $3.946 on Monday, August 16th

August 17, 2021
Monday, August 16th saw the front-month NYMEX Natural Gas Futures Contract open at $3.932, seven cents above Friday’s closing price of $3.861.  Marking the intraday low of $3.929 within minutes of opening, prices rose in the following fifty minutes to tally an intraday high of $3 ... Read More

Oil futures came under pressure on Friday for the second straight session

August 16, 2021
Recap: Oil futures came under pressure on Friday for the second straight session, as the U.S. encouraged OPEC and its allies to increase their output in order to lower prices and fuel an economic recovery, while the IEA lowered its forecast for demand for the rest of the year as ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $3.861 on Friday, August 13th

August 16, 2021
Friday, August 13th saw the front-month NYMEX Natural Gas Futures Contract open at $3.914, two cents below Thursday’s closing price of $3.933.  Posting a choppy ascent to the intraday high of $3.953, prices then slowly declined as Tropical Storm Fred will bring rain and reduced C ... Read More

OPEC left its forecasts for 2021 and 2022 growth unchanged

August 13, 2021
Recap: Oil futures traded on both sides of unchanged on Thursday, as traders sort through the IEA report, in which it recently announced a downward revision to demand expectations, while OPEC left its forecasts for 2021 and 2022 growth unchanged, while lifting its projection of n ... Read More
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