Gas pumps

Oil Futures Rise as Energy Prices Continue Global Climb

Oil futures are higher to start the week as energy prices continued to climb globally.


Energy stocks are poised for a mixed to higher start, backed by strength in the crude complex while the broader index futures ticked lower ahead of a big week for corporate earnings and as China reported disappointing GDP data overnight.

Oil futures are higher to start the week as energy prices continued to climb globally. WTI and Brent futures rose last week with Brent notching its eighth-consecutive week of gains, which is its longest streak since 1999. Shortages in coal, electricity, and natural gas have also led to additional demands for crude while OPEC+ has not increased production. The WTI November contract expires Wednesday.

Natural gas futures are off 3.6% to $5.22, U.S. natural gas futures fell to a three-week low as output slowly rises and on forecasts for the weather to remain milder than normal through early November. The decline came despite a slow but steady increase in U.S. liquefied natural gas (LNG) exports. Global gas prices were up 17% on Monday as utilities in Europe and Asia scrambled to fill inventories before the winter heating season. 



No significant news.


bp and Mercedes-Benz Trucks UK have successfully tested the first digital in-truck ‎fuel payment system in the UK, running a successful pilot trial with Wren Kitchens. The ground-breaking new app-based system, bp In-Truck Pay, makes fuel purchasing ‎and management faster, more efficient and more secure for both truck drivers and ‎fleet managers

Patrick Pouyanné, Chairman and CEO of TotalEnergies opened the company’s UK Offshore Wind Hub in Aberdeen. The Hub will be part of the Company’s existing offshore operations centre in Aberdeen. The Hub will enable the transition of staff from oil and gas to offshore wind as that part of the Company’s UK business grows. It will thus leverage the offshore expertise that TotalEnergies’ Aberdeen operations have built over the last 50 years.


Raymond James upgraded Cenovus Energy to Outperform from Market Perform.


Mizuho upgraded Coterra Energy and Antero Resources to Buy from Neutral.

Truist Securities initiated coverage of Coterra Energy with a Buy rating.

Truist Securities upgraded Occidental Petroleum to Buy from Hold.


No significant news.


CES Energy Solutions, the Board of Directors of CES, and Mr. Tom Simons announced that Mr. Ken Zinger will take over as President and Chief Executive Officer and be appointed to the Board effective October 29, 2021.  Mr. Simons will continue in his role until October 29, 2021 to enable an orderly transition of duties and responsibilities to Mr. Zinger, at which point he will resign as President, Chief Executive Officer, and member of the Board.  The Board and Mr. Simons collectively agreed that the Company is on a solid operational and financial footing coming out of the recent industry downturn and is ideally positioned to take advantage of emerging opportunities.  The transition of Mr. Zinger to the role of President and CEO has been part of the Company and Board's long-term succession planning and it was the Board's view that the time was right to implement this transition plan.

KBR has been awarded a $126.7 million recompete by the U.S. Department of Transportation (DOT) Volpe National Transportation Systems Center for Mission Information Technology Support (MITS) Services in Cambridge, Massachusetts to modernize technical, logistical, and safety-related transportation systems.

DA Davidson upgraded Martin Marietta Materials and Vulcan Materials to Buy from Neutral.

Solaris Oilfield files for mixed shelf of up to $500 million, Reuters reported.


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U.S. stock index futures were lower, tracking world shares, after data showed slower-than-expected growth in China's economy last quarter and surging oil prices fed inflation concerns. Rising inflation expectations and higher U.S. bond yields boosted the dollar's appeal against its rivals, while dulling demand for gold, which inched lower. Oil prices rose, buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation.


Nasdaq Advisory Services Energy Team is part of Nasdaq's Advisory Services – the most experienced team in the industry. The team delivers unmatched shareholder analysis, a comprehensive view of trading and investor activity, and insights into how best to manage investor relations outreach efforts. For questions, please contact Tamar Essner

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