The 360 Digital Closing Bell
The 360 Digital Closing Bell
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Daily Energy Market Summary #120: 9/16/2020
10 minutes Posted Sep 16, 2020 at 8:24 pm.
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Major indices flat with Dow Jones rising 0.5% off indication from the Federal Reserve that interest rates will stay at near zero levels for the foreseeable future. “With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time,” the Federal Open Market Committee said in a statement. 
Crude oil prices spike off the back of Hurricane Sally making landfall and DOE reporting that crude oil inventories drew just over 4 million BBL’s , with production jumping 900K with GOM restoring some leftover shut in production from Laura. Natural gas prices stumbled 4.5% pts off news of cooler weather and expected draws in natural gas inventories, due out tomorrow around
US Shale News
DOE Crude Oil inventories: stock draw and production gains
BP selling around 600K in production over the next 5 years
International
OPEC meets this week
EU and Turkey update
 
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