Friday, February 26th, 2021
Oil prices took a breather on Friday after Brent traded just above $67 on Thursday. While downside risks remain, banks are now openly talking about the possibility of $100 oil at some point. OPEC+ still has the power to send oil prices down, but very few analysts are staking out overly bearish outlooks.
Texas scrutinizes blackouts. 5 members of ERCOT, the grid manager in Texas blamed for the historic outages last week, resigned on Wednesday. A sixth withdrew his application. Executives from Calpine Corp.,
Vistra Corp. (NYSE: VST), and NRG
Energy (NYSE: NRG) blamed natural gas-supply shortages
Texas gas production fell by half. Natural gas production in Texas collapsed by half during the freeze.
Legal Disclaimer
You are responsible for reading, understanding and agreeing to the National Law Review s (NLR’s) and the National Law Forum LLC s Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.