Daily Energy Market Summary: 360 DCB – 10/19/2020 – Hosted by Michael Tanner

COVID-19 cases uptick and souring stimulus sentiment lead to over 1% losses on the overall equities market today. The Dow Jones traded 450 points lower, or 1.1%. Earlier in the day, the 30-stock average was up more than 100 points. The S&P 500 dropped 1.3% and the Nasdaq pulled back 1.2%.

“The 48 only relates to if we want to get it done before the election, which we do,” Pelosi told ABC’s “This Week” on Sunday. “We’re saying to them, we have to freeze the design on some of these things — are we going with it or not and what is the language? I’m optimistic, because again we’ve been back and forth on all this.” Washington Post reported, citing sources, that a deal between the  House Speaker Pelosi and the Trump administration was not “sounding imminent.” The news sent the major indices to their lows for the trading session.

Oil and Gas News Today

Crude oil prices remain steady amid stable long term supply doubts as COVID19 headlines will continue to dominate the oil markets.  Crude oil prices currently are trading at $40.71 at 1:07 PM MST.  Natural gas prices jump 2% off weather models turning colder and LNG supply issues.

North American Shale News

• $COP buys $CXO all stock, 15% premium
• $HAL Q3 earnings highlights…

International

• Nigeria seeks private funding to close $2.5 bn electrical gap
• Kremlin says news OPEC+ oil talks to tackle weak demand outlook
• Saudi crude exports rise to 5.97 million bpd in August

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