After waiting some time for clarity on Iran sanctions waivers, the White House has provided some clarity, which is causing oil prices to move rapidly higher this morning. Crude oil is currently trading at an annual high of $65.51, up $1.51 (+2.4%) from Friday’s close. Fuel prices are also moving quickly, with large gains for […]
Natural Gas News – April 19, 2019 API: U.S. Continues to Lead the World in Natural Gas Liquids, Crude Oil Production World Oil reported: The American Petroleum Institute’s latest monthly statistical report showed that the U.S. sustained its position as the world’s leading oil producer, continuing a pace of 12.1 MMbopd, matching February 2019. In […]
FUELSNews will resume production on Monday, April 22. Markets were less than impressed with yesterday’s EIA report despite across-the-board draws for crude, diesel, and gasoline stocks. Crude oil fell back down to the $63/bbl range, with diesel prices following. Yesterday’s losses were less related to the EIA’s report, though, and more tied to equity markets. […]
Natural Gas News – April 18, 2019 Permian Activity Is Firing Up But Holding Back Regional Natural Gas Prices Forbes reported: Industry discourse suggests that the Permian Basin is powering U.S. shale oil and gas output. In fact, the hydrocarbon rich basin between western Texas and southeastern New Mexico is rarely out of energy market […]
Natural Gas News – April 17, 2019 EIA Data Shows U.S. Natural Gas Supplies Rising by 25 Bcf Department of Energy reported: Today, the U.S. Department of Energy (DOE) announced up to $39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies. The United States […]
The Case For $100 Oil The odds of an oil price spike this year are much higher than the prevailing consensus in the market, according to a new report from Bank of America Merrill Lynch. The oil market has been tightening rapidly this year, due to OPEC+ cuts taking supply off of the market, outages […]
Oil is popping higher on strong economic news in China where GDP growth in Q1 was estimated 6.4%, slightly above Reuters estimates of 6.3%. Yesterday saw prices rise to close back over $64/bbl, in line with the recent $63-$64 trading range. Today, crude oil is trading at $64.27, continuing its gains by rising 22 cents. […]
Oil is trading a bit higher this afternoon, right in line with recent trading ranges between $63 and $65. Markets have not yet been able to sustain a rally higher, but they also have too much buying pressure to sink lower. This afternoon WTI crude is trading at $63.65, up 25 cents. Fuel is also […]
Though prices made another run at closing above $64 on Friday, momentum weakened later in the day, leading to a close just under that level. This morning crude remained under pressure, facing resistance as it seeks to push new highs. WTI crude is currently trading at $63.16, down 73 cents. Weakening crude prices are spilling […]
Natural Gas News – April 16, 2019 Department of Energy Announces $39 Million for Oil and Natural Gas R&D Projects Zacks reported: The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected increase in natural gas supplies. However, the injection was higher than the five-year average. Stockpiles held in underground storage in the lower 48 […]
