The Daily World Finance in Energy Show -2-3-2021

Energy News Beat 2/3/2021: JMMC for IR Guy Of The Week
Markets fluctuated amid a huge number of corporate earnings.

• S&P 500: 1.39%
• Nasdaq: 1.72%
• Dow Jones: 1.60%

Amazon reported earnings nearly doubled Wall Street estimates, while delivering its biggest revenue of all time at $125.56 billion, pushing it past the symbolic $100 billion mark for the first time. The ecommerce leader also announced that Jeff Bezos was stepping down as CEO. Amazon’s stock traded 0.4% lower.
On the data front, private firms added 174,000 jobs in January, above the 50,000 Dow Jones estimate, according to a report Wednesday from payroll processing firm ADP.

Crude Oil and Natural Gas News
Crude oil prices see $56 during todays trading session off the back of bullish EIA draw 1 mm bbl. Natural gas takes a small dive 2%. Although frigid air is expected to linger over much of the high heating demand eastern United States through at least the first half of the month, the current price action suggests that this news has been fully-priced into the market.

US Energy News
• Crude stocks draw 1 mm bbl
• Magellan earnings
• Earthstone guidance

International Energy News
• Wald Wednesday: Blackstone and renewables
• JMMC sees recovery
• Shell power trading 😊