Daily Energy Market Show 2-17-2021

Major indices pared major losses amid Berkshire Hathaway dives back into the stock market.

• S&P 500: -0.05%
• Nasdaq: -0.60%
• Dow Jones: 0.21%

Verizon was among the biggest gainers after Warren Buffett’s Berkshire Hathaway revealed a sizable stake in the telecom giant. Chevron jumped 3.5% as Berkshire revealed a large stake in the energy company as well last quarter. The S&P 500 pared losses slightly after the minutes of the last Federal Reserve meeting signaled that easy monetary policy will be in place for longer as the economy is nowhere close to pre-pandemic levels.
Retail sales surged 5.3% in January, blowing past a Dow Jones estimate of a 1.2% rise.

Crude Oil and Natural Gas News

Crude oil prices spike after favorable EIA data brings prices to $61.28 for the day. Natural gas prices spike amid the deep Texas freeze

US Energy News
• Crude stocks -6.8 mm bbl
• EQT earnings
• CLR earnings
• Energy Transfer buys Enable midstream
• BP offering equity sharing program

International Energy News
• EIA updates forecasts
• Saudi urgers caution ahead of OPEC+ meeting