WTI: $90.67. Recovered after Saudi suggesting cutting back production to maintain prices above a floor.
Natural gas: $9.777. Simply a matter of time.
Note: now that I "understand" the Jones Act, I'm in favor of retaining it. There are plenty of workarounds.
News items:
- Javier Blas has been on vacation; returns:
- Saudi: we may have to raise prices to bring stability to the market. This reversed the 4% slide in crude oil today.
Investors:
the problem is, it's probably too late for them to get 2023 oil hedged at $42.25 anymore...they might just be forced to profit on it, despite their better judgement otherwise....
ReplyDeleteThere must be a lot of tension between a CEO -- an oilman, a gambler by nature, who wants to be unhedged -- vs the CFO who is conservative by nature, wants to be hedged.
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