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 […]
As the week comes to a close, oil prices are quickly rising towards the upper end of the $53-$55/bbl range in which WTI crude has been bound for the last few weeks. Whether or not this will be the market’s opportunity to break from this range is yet to be seen. Recent economic data, including […]
Natural Gas News – February 15, 2019 Shutdown of Historic Field Forces Dutch to Look Abroad for Gas World Oil reported : After decades of supplying itself and its European neighbors with natural gas, an era has officially come to an end for the Netherlands. The country became a net importer for the first calendar […]
Natural Gas News – February 14, 2019 It’s Full Speed Ahead For U.S. Natural Gas Exports Forbes reported: Now poised for the biggest year ever in 2019, 2018 was a record breaking year for the emerging U.S. natural gas export business. Most recent U.S. Department of Energy data indicate that LNG exports hit a record […]
Although the EIA’s weekly oil report appears bearish on first glance, markets moved higher regardless. Crude oil rallied on a significant Cushing crude draw. After rising 80 cents yesterday, crude oil is trading at $53.55 this morning, down 35 cents. In contrast, fuel prices are trading in the black this morning thanks to high refinery […]
By Dan Luther While every PADD saw declining refinery utilization rates last week, the strong majority of the decline came from PADD 1 and 2 – a result of the Polar Vortex. Cold weather causes significant operational issues for refineries, which in turn affects fuel supplies regionally. Several refineries in the Midwest and Northeast were […]
Natural Gas News – February 13, 2019 Pompeo Says Nord Stream 2 Natural Gas Pipeline Brings ‘Enormous Security Risk’ to Europe S&P Global reported: US Secretary of State Mike Pompeo said Tuesday the US would keep fighting the 55 Bcm/year Nord Stream 2 natural gas pipeline, declining to rule out the possibility of leveling sanctions against […]
Oil prices are up slightly this morning, gaining positive traction as government shutdown risks diminish and oil stocks fall. Crude is currently trading at $53.59, up 49 cents since yesterday’s close. Fuel prices are also seeing a boost this morning. Diesel prices, buoyed by a strong inventory draw, are trading at $1.9319, up 2.5 cents. […]
Russia’s Sechin raises pressure on Putin to end OPEC deal Igor Sechin, head of Russian oil giant Rosneft and one of Vladimir Putin’s closest allies, has written to the Russian president saying Moscow’s deal with OPEC to cut oil output is a strategic threat and plays into the hands of the United States. The letter […]
Markets are rebounding from last week’s dip in prices, with markets becoming more hopeful that a second government shutdown will be averted. Crude oil is trading higher this morning at $53.52, up $1.11. Fuel prices are also getting a lift this morning. Diesel prices are trading at $1.9179, a gain of 2.6 cents since yesterday’s […]
