The Crude Oil and Natural Gas prices update and oil stock report for November 17th

Yesterday, November 17th the EIA published its weekly report about energy stocks, consumption and prices. The report also speculated on the movement of crude oil prices, perhaps moving to higher levels. I have partly referred to this matter in a previous post; however, for this week, at least, the crude oil prices didn’t show much strength, except for today, as crude oil price ranged between the 80 to 85 USD/ barrel mark.

On the other hand, natural gas prices continue to flip flop as it demonstrated today a drop after a full week’s rises and falls.


Despite the expectations of a rise in Finished Motor Gasoline stock as the refineries got back to business and are expected to produce in full steam, as I have referred to before, it seems that there is a continuous decline in Finished Motor Gasoline stock, as it currently stands on 68,446 thousands of barrels, the lowest recorded stock even, and a decline of 1.4% from last week. I think that since there are still high levels of crude oil stocks, which currently stand on 1,084,146 thousands of barrels, it’s probably still a matter of the refineries not keeping up with their work quota. I think that as the weeks will progress we will see a steady rise in Finished Motor Gasoline stock.


Here is an update on the prices of main energy commodities for November 18th:

The crude oil price of short term futures, as of 17.22PM GMT, on the New York Mercantile Exchange (Nymex), is at 82.27 USD per barrel, which represents a 1.83 dollar increase or a 2.27% drop.

The Dated Brent spot crude oil reached 84.69 USD per barrel – a 2.09 per barrel rise as of 17.33PM GMT.

The WTI spot price is trading as of 17.00PM GMT at 81.90 USD per barrel, an increase of 1.82% compare to the previous business day’s rate.

The Natural Gas prices after rising yesterday by 5.5%, the Nymex Henry Hub Future settled yesterday on 4.03$ MMBTU (one million BTU). Today, the market opened with a fall and currently the price of the Nymex Henry Hub Future is traded, as of 17.22PM GMT, at 3.87$ MMBTU which is a 3.87% decrease or 0.16 in $ MMBTU.