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Welcome to Gold Dragon Daily, an AI-powered podcast by Gold Dragon Investments, helping you win the game of passive investing. For more information, visit GotTheGold.com. I'm your host, Justin 2.0.
This is Market Pulse — Friday's numbers.
Oil & Gas:
- • WTI closed at $60.27, up 1.41%
- • Brent settled at $64.23, up 1.34%
- • Brent-WTI spread holds at $3.96
- • Both benchmarks posted modest Friday gains after three-day slide
- • On track for second consecutive week of losses driven by oversupply concerns
- • Natural gas climbed to $4.36 per MMBtu
- • December contract sits at $4.23
- • Near-record LNG export demand continues pushing prices higher
- • Flows averaging 17.4 billion cubic feet per day in November
Production:
- • Permian output holds steady at 6.6 million barrels per day
- • Drilling efficiency gains and enhanced completion designs keep production robust despite price pressure
- • Hedging coverage remains mixed
- • Industry-wide oil hedge ratios averaged just 21% for 2025 production as of March
- • Some operators locked in 80% coverage during June's price spike
Real Estate:
- • Industrial cap rates range from 6.22% to 6.48% for Class A properties
- • Multifamily Class A assets trade between 4.90% and 5.17%
- • Cap rate compression continues as NOI growth confidence returns
Credit:
- • SOAFER spreads and dry powder levels remain stable
- • Senior secured lending continues at SOAFER plus 650 basis points with LTV ratios under 65%
Bottom Line:
- • Oil: Target sub-$50 breakevens, hedge floors above $75
- • Gas: Selective exposure, winter contracts locked
- • Real Estate: Industrial sub-6.5% caps near logistics hubs
- • Credit: Senior secured, SOAFER plus 650, LTV under 65%
Visit GotTheGold.com. Stay sharp.
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