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What s Next for Oil and Gas? - ETF Daily News

What’s Next for Oil and Gas? Nearby NYMEX crude oil futures rise to a new high and break out to the upside Higher lows in natural gas Crude oil production declines in the US- OPEC helps the rally Natural gas inventories are falling compared to prior years Crude oil and natural gas markets are readjusting after falling to an all-time and quarter-of-a-century low in 2020. On April 20, 2020, the NYMEX crude oil price dropped to negative $40.32 per barrel, the lowest price since WTI began trading in the early 1980s. As storage facilities filled, there was nowhere to put the energy commodity. The seaborn Brent benchmark futures fell to the lowest level of this century at $16 per barrel.

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