HOT OFF THE PRESSES: Markets rebound is HUGE, recovering about 25% of the losses inflicted over the past 3 trading sessions. S&P 500 jumps 2.5%, while Dow Jones and Nasdaq finish up 2.4% and 2.8% respectively. Selling seems to be overextended, leading to todays sharp rise in equites, OAG360 analysts are watching to see if there is any really buying or a dead-cat-bounce on the way to sharper, broader losses.
Crude oil price fairs well, trading above $38 late in the afternoon session. Prices were supported by expected inventory draws that the EIA will announce tomorrow morning. Natural gas prices finish flat to end a lackluster day, currently trading around $2.400.
US Shale:
- Elliott Management buys stake in Noble Energy, eyes to nix Chevron acquisition
- Enterprise Product Partners cancel crude oil pipeline form Midland to ECHO-4 in Houston
- Zarvona Energy buys $AREX assets in a 363 exchange for $115mm
International:
- Hess CEO ‘Optimistic’ New Guyana Government Will Approve Project License
Email the show: mtanner@enercominc.com / 303-907-6825
Show Note Articles:
Enterprise ($EPD) cancel’s ECHO-4 pipeline project
Second wave of floating storage triggered by ailing oil market
U.S. natgas output, demand to fall in 2020 from peaks due to coronavirus: EIA
Oil prices edge up off three-month lows; demand concerns persist
Hess is “Optimistic” Guyana Government Will Approve Latest Stabroek Block Discovery, Hess CEO
New York Hedge Fund buys stake in Noble Energy, eyes to nix Chevron acquisition
Experts: Lebanon blast brings foreign insistence on reform
Opec+ lifts compliance as deal’s second phase starts – production numbers listed
Iranian Fuel Seized by US to Reach Texas Within Days
Saudi Cuts OSP, tumbling oil more than 6% to $37 range
Enterprise ($EPD) cancel’s ECHO-4 pipeline project
Second wave of floating storage triggered by ailing oil market
U.S. natgas output, demand to fall in 2020 from peaks due to coronavirus: EIA
Oil prices edge up off three-month lows; demand concerns persist
Hess is “Optimistic” Guyana Government Will Approve Latest Stabroek Block Discovery, Hess CEO
New York Hedge Fund buys stake in Noble Energy, eyes to nix Chevron acquisition
Experts: Lebanon blast brings foreign insistence on reform
Opec+ lifts compliance as deal’s second phase starts – production numbers listed
Iranian Fuel Seized by US to Reach Texas Within Days
Saudi Cuts OSP, tumbling oil more than 6% to $37 range
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