Although OPEC’s decision to take…
Although the OPEC deal was…
Tuesday proved to be a day of marginal gains and in some cases, considerable losses on the NYMEX commodity market.
The NYMEX Crude future saw a miniscule gain, increasing by $0.39 per barrel or 0.39% to finish at $101.41 per barrel. The Brent price saw even smaller gains, only increasing by $0.32 per barrel or 0.26% to finish at $120.29 per barrel. The WTI price ultimately suffered some losses, decreasing by $1.44 per barrel or 1.41% to ultimately finish at $101.02 per barrel.
Oil by the gallon also saw marginal gains and losses, with the NYMEX Heating Oil Future gaining only 0.33 cents per gallon or about 0.11% to finish at 309.90 cents per gallon. The NYMEX RBOB Gasoline future saw a minor dip, losing 1.04 cents per gallon or 0.32% and finishing at 323.92 cents per gallon.
Natural gas saw minimal change, with the NYMEX Henry Hub Future gaining $0.01 per million British thermal units or a 0.59% change, to finish at $2.04 per MMBTU. The Henry Hub spot price saw a minor loss, losing $0.01 per MMBTU for a total change of 0.50%, with a final price of $1.98 per MMBTU. The New York City Gate spot price saw a slightly larger loss, dropping by $0.03 per MMBTU or a 1.38% drop to finish at $2.15 per MMBTU.
Electricity saw the largest changes, with losses across the board. The Mid-Columbia on-peak spot price lost $3.91 per megawatt hour, equal to a 20.97% loss and bringing the price to $14.74 per MW-h. Losses at Palo Verde were considerably smaller, with the on-peak price dropping only $0.32 per MW-h, or 1.52% to finish at $20.77 per MW-h. The Houston ERCOT on-peak price also saw a dip, losing $2.44 per MW-h or 7.45% to finish at $30.31 per MW-h.
By. Shea Laverty
All prices listed are in USD unless otherwise noted.
Data from Bloomberg.
Shea Laverty is a freelance writer living in the Texas Panhandle. While well-versed in technology and entertainment, Laverty keeps his focus on energy and the…