Why Lesser-Known Oil and Gas Stocks Soared Today

why lesser known oil and gas stocks soared today

Sumary of Why Lesser-Known Oil and Gas Stocks Soared Today:

  • EDT, including: So what Prices of oil and natural gas are on a stellar run, and there appears to be no stopping them.
  • As of this writing, natural gas prices are up 3.5% after popping more than 6% in early morning trading, while the price of West Texas Intermediate (WTI) — a U.S. oil price benchmark — was trading up 3%.
  • 20 lows, while natural gas prices have jumped an astounding 39% over the period.
  • The stunning rally in prices has set oil and gas stocks on fire, and it may not fizzle out just yet.
  • The American Petroleum Institute (API) confirmed those fears with its weekly inventory report released on Sept.
  • API reported a drop of roughly 2.9 million barrels in the previous week.
  • Just the other day, the Organization of Petroleum Exporting Countries (OPEC) projected demand for oil to cross pre-pandemic levels in 2022. Fear has gripped the natural gas market even harder given supply disruptions during the peak inventory buildup season ahead of the winter months.
  • Until last quarter, the company expected to hit that target by early 2022, but that’s likely to happen even earlier given the exponential rise in natural gas prices.

Want to know more click here go to source.

From -

Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.