Natural Gas News – May 10, 2019

Natural Gas News – May 10, 2019

U.S. oil settles lower as hopes for a U.S.-China trade deal fade

Market Watch reported: U.S. crude-oil prices declined Thursday, while global benchmark prices ended a few pennies higher, with escalation in the Sino- American trade spat raising the potential to dent energy demand. Those concerns have more than offset the price-supportive weekly decline in U.S. crude inventories reported Wednesday, though traders continue to keep watch on growing tensions between the U.S. and Iran, which raises the threat of disruptions to Middle East output. West Texas Intermediate crude for June delivery CLM9, – 0.05% fell 42 cents, or 0.7%, to settle at $61.70 a barrel on the New York Mercantile Exchange, after a 1.2% rise a day earlier. Prices were on track for a weekly loss of 0.4%. For more on this story visit marketwatch.com or click https://on.mktw.net/2Yl0W4I

Nation produced a record level of energy in 2018, EIA says

Daily Energy Insider reports: The United States produced a record amount of energy in 2018, according to the Energy Information Administration (EIA). The nation produced 96 quadrillion British thermal units (quads) of energy from various sources in 2018, an 8 percent increase from 2017. The increase in production outpaced the 4 percent increase in U.S. energy consumption, which also reached a record high of 101 quads. Further, U.S. energy exports increased 18 percent to 21 quads in 2018 – also a record. Consequently, net energy imports into the United States dropped to a 54-year low of 4 quads. The EIA report found that crude oil and natural gas accounted for 57 percent of all U.S. energy production in 2018. Crude oil production saw an increase of 17 percent while natural gas had a rise of 12 percent from 2017. Also, natural gas plant liquids production increased by 14 percent. Additionally, the production of renewable energy increased 4 percent from 2017. That included a 22 percent increase in solar, an 8 percent increase in wind, and a 2 percent increase in biomass energy. Nuclear electric power production remained unchanged last year while coal energy production dropped 2 percent. For more on this story visit dailyenergyinsider.com or click https://bit.ly/2JviXJf