Monday, August 22, 2022

A Volatile Day In The Energy Markets -- August 22, 2022

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:

Investors:

2 comments:

  1. 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....

    ReplyDelete
    Replies
    1. There 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.

      Delete

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