Crude Edges Lower, But Set for Biggest Weekly Gain Since June

SECTOR COMMENTARY

Energy stocks are set to open mixed to lower, weighed down by weakness in the underlying commodities while U.S. stock index futures traded mixed following yesterday’s sell off as investors remain on edge about the outlook of further government stimulus. Meanwhile, we should expect to see heightened volume levels in the form of block trades at the open and close amid today’s quad-witching and index rebalancing.

Oil prices are off session highs but on track for their largest weekly gain since June. Moving prices lower is news out of Eastern Libyan as commander Khalifa Haftar said in a broadcast today that his forces had decided to resume oil production after having blockaded export facilities since January, without giving further details.

Natural gas is off ~3 % following yesterday’s 10% drop on several factors including weather, weekly storage, weaker Gulf Coast demand following Sally and Cameron LNG struggles. Despite

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