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Energy Market Commentary December 30 2016: Nasdaq Advisory Services

Friday, December 30, 2016

Sector Commentary

Energy stocks are set to open modestly higher, tracking fractional pre-market broader equity index gains and overlooking slight losses in crude oil and natural gas prices. The dearth of news flow reaches its peak today on the last day of the trading year. Meanwhile, crude oil prices gave back overnight gains, and are currently lower by approximately 10 basis points. Some modest profit taking amid recent gains over the last few weeks is acting as the culprit. Additionally, natural gas futures are also drifting lower in light pre-holiday trade.

U.S. E&PS

(Late Thursday) Press Release - Gulfport Energy announced that Aaron Gaydosik, the Company’s Chief Financial Officer, has informed Gulfport of his decision to resign from the Company, effective January 4, 2017, to pursue an external opportunity. On December 29, 2016, our Board of Directors appointed Ms. Keri Crowell, our Chief Accounting Officer, as our Chief Financial Officer, effective as of January 4, 2017.

MARKET COMMENTARY

Global markets picked up slightly on the final trading day of the year, despite signs that risk appetite has faltered going into 2017. In the U.S., futures pointed to a 0.2% opening gain for the S&P 500 during European trading hours. In the U.K., the FTSE 100 was up 0.3% after an early close, reaching a new all-time high, while the Stoxx Europe 600 rose 0.1%.


Nasdaq Advisory Services Energy Team Tamar Essner
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