Daily Energy Market Summary: #144 – 10/23/2020

Published October 28, 2020 78 Views

Rumble Indices remain flat as hopes of a stimulus agreement before the election were dashed by poor sentiment and a tweet from President Trump.

“We’ve offered compromises, the speaker on a number of issues is still dug in,” said Treasury Secretary Steven Mnuchin. “If she wants to compromise, there will be a deal. But we’ve made lots of progress in lots of areas, but there’s still some significant areas that we’re working through.”

• S&P 500: +.10%
• Nasdaq: -0.06%
• Dow Jones: -0.25%

Oil and Gas News Today:
Crude oil prices fall amid stimulus talks going nowhere and the prospect a weak dollar hamper oil markets. Crude oil prices currently trading around $39.80, 2% off session highs. Natural gas prices stay fairly flat from a bearish weekend weather report, but the fundamental picture from Thursday remains unchanged. Natural gas prices down 1% to $2.971

North American Shale News
• $EQT rumored to be buying $CNX
• US rig count climbs 5
• $REI gives away another $18 million in stock

International
• Turkey working with foreign firms to develop Sakarya gas field
• 2nd COVID wave adds to European refiners woes
• Sudan joining UAE in recognizing oil prices
• PetroChina expects higher natural gas imports in 2020

Email the show and tell us how wrong we are: mtanner@enercominc.com
360 News Desk: https://www.oilandgas360.com/eenfp/newsdesk/

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