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Energy Prices Summary – Tuesday, November 5, 2019
Crude Oil (CLZ19): 57.23 (+.69)
Natural Gas (NGZ19): 2.862 (+.041)
NY ULSD (HOZ19): 1.9566 (+.0161)
Gasoline (RBZ19): 1.6746 (+.0109)
Oil prices once again rallied strongly enough to post new recent highs before falling off going into the close of the trading session, although not as dramatically as yesterday. Prices continue to test the upper band of the recent trading channel. Trading volume was average with just under a million futures contracts changing hands.
Natural gas rallied strongly through recent contract highs before pulling back, yet still closed higher on the day.
**EIA weekly crude oil inventory data will be released tomorrow. Consensus estimates are for a 1.5 million barrel build.
API data out today estimated a crude oil inventory build of 4.26 million barrels.
Chart of the Day – Natural Gas Continues Higher
Top Oil Price News Headlines
Crude Oil Settlements
Dec 19 (CLZ19) 57.23 (+.69)
Jan 20 (CLF20) 57.29 (+.69)
Dec 20 (CLZ20) 53.69 (+.44)
Dec 21 (CLZ21) 52.21 (+.39)
Crude Oil Price Spreads
CLZ19 / CLF20: -.06
CLZ19 / CLZ20: +3.54
CLZ20 / CLZ21: +1.48
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