Following moderate gains in H1, prices contracted to end the third quarter lower than their July 1 start positions. Brent crude began the period at US$67.10 per barrel and finished at US$65.90, a 1.7 percent decline. Similarly, West Texas Intermediate (WTI) entered the 90 day session at US$65.55 per barrel, slipping to US$62.33 by September 30.
Electricity generation from natural gas power plants in Texas dipped by 1% over the first nine months of the year, and it could book an annual decline if wind generation lives up to expectations in the final quarter of the year.
Curious Minds Corner
What is the name of a well drilled without previous nearby oil or gas production?