Daily Energy Market Summary: 360 DCB – 10/20/2020 – Hosted by Michael Tanner

Roller coaster day for the equites markets as stimulus talks spur green indices, but slump as the market closed and stimulus hopes faded. The Dow Jones closed 113.37 points higher, or 0.4%, at 28,308.79. The 30-stock average was briefly up more than 300 points. The S&P 500 gained 0.5% to end the day at 3,443.12 and the Nasdaq advanced 0.3% to 11,516.49.

House Speaker Pelosi, D-Calif., said on Tuesday that both sides made progress in their negotiations. “Hopefully by the end of the day, we’ll know where we all are,” Pelosi told Bloomberg TV. “But I’m optimistic.”

Oil and Gas News Today

Crude oil prices jump on OPEC+ agreeing to more cuts to help sustain oil prices, with crude oil prices rising above $41, settling at $41.41 around 2:41 MST. Natural gas prices rise off cooler weather moving in this week and LNG exports rising amid the stock draw seasonality flip. Natural gas prices are currently trading $2.912 at 2:42 MST

North American Shale News

• $PXD to buy $PE – reports
• Talos Energy ties off first GOM well
• US LNG exports rise amid colder weather

International

• Russia says premature to talk OPEC+ beyond 2020
• China issues warning over Russia oil trading
• Morocco renewables investments

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