AND THE PAIN GOES ON

摘要

While the short-term path of oil prices followed a steady downward trajectory in the third quarter, giving up more than 13% to close out September at a West Texas Intermediate (WTI) price of just over $91 per barrel (bbl), energy equities did even worse. By quarter end, the EPX index was down around 18% and losing further ground as October got underway. During these more painful periods for energy investors, the sometimes routine reports of what long-term commodity prices are being discounted by energy equities tend to attract more attention. So what kind of oil and gas prices are baked into the stocks?