Oil heavyweights are at odds…
A flurry of business deals…
Wednesday was a day of marginal changes for the NYMEX market, with exceptionally modest gains and losses being the general order of the day.
The NYMEX Crude future made no changes up or down, remaining at $102.70 per barrel. The Brent price experienced an extremely mild loss, dipping $0.03 per barrel or 0.03% to finish at $120.29 per barrel. The WTI Cushing price saw a modest gain, raising $1.68 per barrel or 1.66% to finish at $102.70 per barrel.
The NYMEX Heating Oil future slipped minutely, losing 0.26 cents per gallon or 0.08% and finishing at 311.23 cents a gallon. The NYMEX RBOB Gasoline future felt a similar loss, losing 0.23 cents per gallon or 0.07% and finishing at 329.32 cents per gallon.
Natural gas saw very little change, with the NYMEX Henry Hub Future neither dipping or rising in value but still losing 0.05% to finish at $1.98 per million British thermal unit. The Henry Hub price saw a the largest relative loss for the day, dropping $0.07 per MMBTU or losing 3.54% to finish at $1.91 per MMBTU. The New York City Gate price saw a similar loss, dipping $0.06 per MMBTU or 2.79% to finish at $2.09 per MMBTU.
In electricity, the Mid-Columbia on-peak spot price made a minimal recovery after Tuesday's considerable loss, gaining $0.20 per megawatt hour or 1.36%, finishing at $14.94 per MW-h. Palo Verde's on-peak price also made a modest gain, raising $0.38 per MW-h or 1.83% to finish at $21.15 per MW-h. The Houston ERCOT on-peak rice saw a small dip, losing $0.31 per MW-h or 1.02% to finish at $30.00 per MW-h.
By. Shea Laverty for Oilprice.com
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…