The Oil/Energy sector is more than halfway through the Q3 earnings season. Let’s take a look at the factors influencing quarterly results this time around. A Combination of Lower Oil & Gas Prices So, how does the price of oil and gas compare with the year-ago period? According to the U.S. Energy Information Administration, WTI prices started the third quarter of 2018 at around $74 per barrel and exited the period at $73 per barrel. This year, prices were $59 a barrel at the start of the third quarter and fell to $55 at the end of September. The news is not rosy on the natural gas front either. In Q3 of last year, natural gas prices were around $2.85 per MMBtu in the beginning and rose steadily to end September at more than $3 per MMBtu. Coming to 2019, the fuel was trading at $2.25 per MMBtu in the beginning of July and struggled throughout the quarter to end at $2.33 per MMBtu. Companies Across the Board to Have Suffered Taking into account the commodity price drop, the picture looks rather downbeat for the Q3 earnings season. Per the latest Earnings Trend , Energy is one of the […]
