Daily Energy Market Summary: #148 – 10/30/2020

Published October 30, 2020 12,667 Views

Rumble Markets end the week red off fresh highs in COVID-19 cases and stimulus talks break down, driving the Dow Jones down over 450 pts. Tech shares lag as $AAPL reports weaker earnings off the back of slumping iPhone sales.

• S&P 500: -1.56%
• Nasdaq: -3.3%
• Dow Jones: -0.59%

In Washington, Senate Majority Leader Mitch McConnell adjourned the Senate until Nov. 9, making it unlikely for Democrats and Republicans to reach a deal on new fiscal stimulus before the election on Tuesday. Treasury Secretary Steven Mnuchin, meanwhile, accused House Speaker Nancy Pelosi of miscasting the state of the stalled negotiations, calling it a “political stunt.”

Traders are bracing for a chopping two days heading into Tuesdays election.

Oil and Gas News Today
Crude oil prices fall another 1.6% to finish down over 6% for the week, one of the worst drops in the recent weeks. Crude oil prices settle around $35.55 for the week. Natural gas prices climb another 1.51% off contract rolling and cold weather moving into the Northeast. Natural gas prices settling $3.344

North American Shale News
• Chevron earrings
• US Rig count +6
• Philips 66 earnings
• ExxonMobil earnings
• SM earnings
• Range earnings
• Cabot earnings
• Liberty earnings
• Devon earnings
• Ring doesn’t close asset sales Delaware Basin

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