NVDA: $500, target. Multiple sources. Up about $3.50 pre-market.
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Back to the Bakken
WTI: $81.14. At least it's green this morning.
Thursday, August 17, 2023: 32 for the month; 234 for the quarter, 479 for the year
39554, conf, Neptune Operating, Gibbins 11-2 3H,
38903, conf, Enerplus, MC-Kudrna 144-95-10-3-2H,
37880, conf, BR, Rink 2-1-5UTFH,
35470, conf, Oasis, MHA 1-29-30H-150-92,
Wednesday, August 16, 2023: 28 for the month; 230 for the quarter, 475 for the year
39553, conf, Neptune Operating, Gibbins LE 11-2 1H,
39452, conf, CLR, Edward 12-23HSL,
37879, conf, BR, Kermit 1-8-32MBH,
RBN Energy: where the market stands as heating season looms.
It may be hard to believe, given the furnace-like temperatures that many of us have been dealing with the past few weeks, but the 2023-24 propane heating season is on the horizon — its official start is October 1, only seven weeks away. To quote Bill and Ted from their Excellent Adventure movie franchise, it could be argued that, for the U.S. propane market, “The best place to be is here. The best time to be is now.”
Production is at or near an all-time high — so are exports. Propane inventories are well above their five-year average, which should help ward off winter-supply concerns. And propane prices? They’re up from where they were a few weeks ago, but only in the 70-cents/gal range, well below the $1/gal-plus levels that were the norm between Q3 2021 and Q3 2022. The temptation may be to yell, “Party on, dudes!”, but as we discuss in today’s RBN blog, the reality is, the propane market is an ongoing and unpredictable adventure, and you never know for sure what’s ahead.
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