Daily Energy Market Summary #119: 9/15/2020

Choppy Tuesday in the markets today as huge gains are lost toward the end of the trading session. The S&P 500 gained 0.4% and the Nasdaq moved 1%. The DJIA fell, giving up an over 230-point gain and trading just below the open

Crude oil prices jump 2.75% off of nearly 25% of GOM shut in due to Hurricane Sally. Shell said Sept. 15 it shut in production at its Appomattox platform, while also curtailing oil volumes at its large Olympus, Mars and Ursa facilities. Chevron said it has shuttered production at its Blind Faith and Petronius platforms in the deepwater US Gulf.

US Shale News

• Lonestar files Chapter 11
• Hurricane Sally Shutting In around 27% of GOM production

International

• Petrobras in talks with SBM Offshore for largest oil production unit in Brazil