Oil is back on its way to higher prices amid continued focus on OPEC’s cuts. Crude picked up over 80 cents yesterday (1.5%) to set yet another 2019 high. From here, a clear break above $60 would signal a return to the ranges seen before the Q4 2018 bear drop. This morning, crude oil is […]
Natural Gas News – February 21, 2019 NiSource’s Bill From Natural-Gas Explosion Near Boston Approaches $1 Billion Dispatch reported: The bill from the natural-gas explosion that rocked three Boston suburbs in September is up to $888 million and climbing. NiSource, the parent company of Columbia Gas of Ohio and Columbia Gas of Massachusetts, laid out […]
Crude oil set a new multi-month high yesterday, trading mildly higher in conjunction with other financial markets. After some early morning losses, crude oil appears to be continuing its slow march higher. WTI Crude is currently trading at $56.28, up 19 cents from yesterday’s close. Unlike crude, fuel prices traded lower yesterday, with diesel falling […]
Summary by Wayne Lee How US sanctions on Venezuela are rippling through oil markets US sanctions on Venezuela’s national oil company have accelerated the unprecedented collapse of its oil output and set off a domino effect in the global energy market. The sanctions, which were announced on January 28 in a bid to speed up […]
Natural Gas News – February 20, 2019 Cheaper Natural Gas Is Coming To Europe Oil Price reported: The European Union recently updated its gas pipeline rules in a bid to assuage concerns about its deepening dependence on Russian gas. The move was generally praised by Nord Stream 2 opponents, but guardedly, since the update did […]
After closing early yesterday in observance of President’s Day, oil markets are continuing to trade in line with Friday’s closing price. Brent settled above its 100-day moving average for the first time since October 2018, which could lead to stronger buying interest from fund managers. WTI crude remains below its 100-day moving average of $57.45. […]
Natural Gas News – February 19, 2019 Russia’s Gazprom To Start China Gas Pipeline By December 1 Oil Price reported: Russia’s gas giant Gazprom will begin natural gas deliveries to China via the Power of Siberia pipeline ahead of schedule, as early as December 1, 2019, Alexey Miller, Chairman of Gazprom’s Management Committee, has said […]
While most financial markets are closed today, NYMEX energy prices continue trading this morning. Despite an increase of 3 rigs in the Baker Hughes rig data, oil prices are setting their aims higher this morning. After closing at the highest level in three months on Friday, WTI crude oil is trading at $56.09 this morning, […]
Natural Gas News – February 18, 2019 Shale Gas Market is Forecast to Cross 8,000 Billion Cubic Feet in 2024 Market Watch reported: Shale gas is a type of natural gas explored from shale rocks or deposits underneath earth through various techniques. Globally, it has become an increasingly important source of natural gas. The global […]
The oil complex ended on an upswing yesterday, with crude closing just shy of $55/bbl while fuel prices closed that their highest level since before Thanksgiving. Crude oil is currently trading at $55.34, a gain of 93 points from yesterday’s close. Fuel prices are also trading higher this morning. Diesel prices are currently trading at […]
