Daily Energy Market Summary #122: 9/21/2020 - a podcast by EnerCom Inc. | Oil and Gas 360

Huge market selloff to begin the week as the Dow Jones dropped 843 points, or 3.1%. The S&P 500 lost 2.5% while the Nasdaq Composite fell 1.6%. Stock fell on worse than expected COVID-19 optimism and uncertainty on any new fiscal stimulus. Traders are eyeing key reversal pts in the markets

Crude oil prices take a beating, tumbling below $40, settling around $39.76 around 1:15 PM MST. Natural gas prices do the worst out of any today, losing over 10% with the front month trading around $1.83.

US Shale News

• $OXY pays Buffet preferred stock in cash


• Shell cutting US jobs


• $DEN completes financial restructuring


• $NOG completes reserves stock split

International

• Mideast energy forum takes shape to promote gas exports


• Oil prices slip on Libyan oil returning to market

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