KEYFACT Energy
WTI (July) $69.42 +$2.30, Brent (Aug) $74.29 +$2.45, Diff -$4.87 +15c
USNG (July) $2.34 +8c, UKNG (July) 90.05p +15.8p, TTF (July) €33.70 +€4.7
Oil price
After two bad days, yesterday was a recovery one for oil ahead of Fed day today where, as I write, the whisper is for no change in what is already being known as a hawkish pause. The market didn’t care but the API stats came in as expected with a row of small plusses.
As you know I don’t cover the majors but Shell updated today, interestingly the divvi goes up 15% and the buy-back stays but Capex and Opex both fall, but not in hydrocarbons, particularly in integrated gas and LNG. They are no fools, fossil fuels will be needed in the years to come…
Access Malcolm Graham Wood's full update here l KeyFacts Energy Industry Directory: Malcy's Blog