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Oil Prices


Market Meltdown

By: Mike Dombroski / Posted on: March 12, 2020

Unless you’re a bear hibernating, everyone knows the Coronavirus is causing panic and particularly panic in the markets. Speaking of bears, we are now possibly entering a bear market.

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Industry Update: Continued Production Decline

By: Sam Stires / Posted on: March 2, 2020

U.S. shale oil and gas producers are feeling the pressure from the latest panic on the spread of the coronavirus. Impact from the virus has caused West Texas Intermediate to fall below $45 a barrel. In its latest Drilling Productivity Report, released earlier this month, the Energy Information Administration said, “oil production has declined across six of the seven major shale players in the country, by some 21,000 bpd. However, the Permian production is still growing by 39,000 bpd. Good news is for the consumer, prices look to continue to go down whereas the oil and gas drillers feel pressured with the continued slow production “

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Steady as She Goes

By: Pam Corn / Posted on: February 17, 2020

Very little price change has occurred with crude oil prices on Presidents’ Day after OPEC + has not yet decided to impose further production cuts to offset demand concerns caused by the coronavirus outbreak.

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Iranian General Killed, Cause for Oil Prices Sudden Increase

By: Sam Stires / Posted on: January 3, 2020

Qassem Soleimani, the head of Iran's elite Quds military force and one of the most powerful figures in the Islamic Republic, was killed Thursday night in an airstrike in Baghdad, the U.S. Defense Department confirmed. The death of such a powerful figure in the Iranian landscape raises questions about instability in a region which supplies about 25 percent of the world’s oil. Brent Oil, the international benchmark of crude, surged to nearly $70 a barrel (an increase of 4 percent) whereas West Texas Intermediate, the American oil benchmark for crude, also rose about 4 percent, to nearly $64 a barrel. This is the largest price increase since the attack on a major Saudi oil processing plant back in September.

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Light Liquidity

By: Mike Dombroski / Posted on: December 20, 2019

As the end of this week winds down and people prepare for the holidays next week, light liquidity will most likely be the name of the game in our energy markets. Light liquidity means trading volume is lower than normal which is to be expected during this time of year. Therefore, the bid/ask spreads are wider. Meaning that if the computer-driven trading houses decide to either buy or sell a lot of volume, the market can move violently in one direction rather quickly. What does this mean for our industry? This means that our customers can be very opportunistic especially if we see a retracement in prices after this rally we’ve seen since the beginning of December.

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Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.

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