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Oil prices jumped on Wednesday

February 4, 2021
Recap: Oil prices jumped on Wednesday, finishing the session at their highest level in a year, gaining support from the modest build in U.S. crude oil inventories and expectations that economic stimulus measures will increase demand for oil. Backwardation conditions, where the fr ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $2.845 on Tuesday, February 2nd

February 3, 2021
Tuesday, February 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.987, fourteen cents above Monday’s closing price of $2.850.  Touching a near three month intraday high of $2.995 soon after the opening bell, prices cascaded lower through the morning.  Despit ... Read More

Oil futures rose to their highest level in over a year

February 3, 2021
Recap: Oil futures rose to their highest level in over a year on Tuesday, propelled higher by expectations that efforts to cut output by OPEC and other major producers will aid in reducing supplies and help push the market in to a supply shortage. According to reports, the produc ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $2.850 on Monday, February 1st

February 2, 2021
Monday, February 1st saw the front-month NYMEX Natural Gas Futures Contract open at $2.771, twenty-one cents above Friday’s closing price of $2.564.  Supported by heavy storms hitting the northeast and a bullish shift in weather forecasts, prices rose to cross midday near $2.825. ... Read More

Oil futures traded higher on Monday

February 2, 2021
Recap: Oil futures traded higher on Monday amid strong commitments by Saudi Arabia in cutting back on oil production and reports that President Biden put a pause on new oil and gas leases on federal lands and waters, suggesting a “rigorous review.” This means less supply in the m ... Read More
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Baker Hughes reported that the U.S. oil drilling rig count increased by 6 to 295

February 1, 2021
Recap: Oil prices continue to struggle to the upside, as they went back and forth during the week. As there is persistent resistance above this market, there are signs that it may be running out of steam. Adding pressure to the market were weaker equities amid lingering concerns ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $2.564 on Friday, January 29th

February 1, 2021
Friday, January 29th saw the front-month NYMEX Natural Gas Futures Contract open at $2.658, slightly below Thursday’s closing price of $2.664.  Ascending to an intraday high of $2.695 by 9:45AM, warming forecasts quickly put a damper on any bullish support.  Trending lower near 1 ... Read More

March NYMEX Natural Gas Futures Contract Closed at $2.664 on Thursday, January 28th

January 29, 2021
Thursday, January 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.664, four cents below Wednesday’s closing price of $2.702.  Ascending to the $2.680 level ahead of the weekly storage publication, prices proceeded to sink as the bearish report hit the wire. ... Read More

Oil futures bounced around on Thursday

January 29, 2021
Recap: Oil futures bounced around on Thursday, looking for direction, as traders gage the effects of the latest EIA report against the effects of the widely spreading coronavirus and its impact on demand. Prices dipped early in the session due to new COVID-19 related travel restr ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $2.702 on Wednesday, January 27th

January 28, 2021
Wednesday, January 27th, settlement day for the February contract, saw the front-month NYMEX Natural Gas Futures Contract open at $2.731, nearly eight cents above Tuesday’s closing price of $2.656.  Falling to an intraday low of $2.687 ahead of 10:00AM, prices rallied into the af ... Read More
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