Canadian natural gas prices have held up so well that the majors are taking strategic positions to prepare for an eventual demand spike. But the paydays could be delayed depending on the outcome of the Canadian federal election on Oct. 19.
Crude oil markets got a pop as they tried to look beyond this Greek debt debacle to the expectations that U.S. oil output will continue to fall and tropical Storm Bill in the Yucatan Peninsula may slow operations in refineries and oil platforms in the Gulf of Mexico.
In this interview with The Energy Report, Angelos Damaskos explains why oil prices could reach $75 per barrel in the near future, and why companies making good money now will make much more on the upswing, with great benefits to shareholders.
The Dow Jones Industrial Average capped the worst week since 2011, finishing with a 100-point lurch in the final half-hour of trading, as equities tumbled around the world after crude extended declines below $58 a barrel.