Friday brought yet another sell-off, which combined with this morning’s losses has brought crude oil back to the $50 threshold. Crude is currently trading at $50.23, a loss of 97 cents since Friday’s close. Fuel prices are also trading a bit lower. Diesel prices are $1.8366, down 0.9 cents. Gasoline prices are down to $1.4258, […]
Natural Gas News – December 17, 2018 Russia has Highest Capex on Crude and Natural Gas Projects in Former Soviet Union Over Next Seven Years, Says GlobalData Oil Voice reported: Russia accounts for more than 90% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the Former Soviet […]
Yesterday brought oil prices back above $52, but given the recent $50-$53 holding pattern for WTI, markets aren’t expecting any breakouts this go-round. Although prices have shown little desire to breach the $50/bbl floor, they seem almost as hesitant to mount a significant rally. This morning crude is trading at $51.54, a drop of $1.04 […]
This week was largely uneventful for prices – while more details were provided on OPEC’s 2019 supply cuts, “new news” was lacking. Oil remained locked in the $51-52 range, while fuel prices hovered within 5-cent ranges. Although the week lacked any fundamental changes, it did bring three separate reports from major energy agencies – the […]
Natural Gas News – December 14, 2018 Closing Coal Plants Unlikely To Affect Natural Gas Prices, Expert Says WBAA reported: As coal plants close around the country, the demand for natural gas is going up. But an expert says it likely won’t have a big effect on Hoosier’s heating bills in the long run. Doug […]
Natural Gas News – December 13, 2018 Exxon Mobil makes final investment decision to develop Australian natural gas project Reuters reported: Exxon Mobil Corp has made a final investment decision to develop the West Barracouta gas field in the Bass Strait to bring new gas supplies to the Australian market, it said in a statement […]
Markets are proving once again that any rally will be squashed by concerns about economic growth next year. After closing above $52 on Friday, crude prices hovered around $51 this week until today. This morning, crude is trading at $50.81, down 34 cents. Fuel prices are mixed this morning, trading inversely to yesterday when diesel […]
Yesterday brought small price builds across the oil complex, clearing the way for some sizable gains this morning. Crude oil, supported by a large inventory draw reported by the API, is trading at $52.54, up 89 cents (+1.7%) since yesterday’s close. Fuel prices are also on the rise. Diesel prices are $1.8726, up 2.6 cents […]
Natural Gas News – December 12, 2018 A Natural Gas Pipeline Explosion in British Columbia Spikes Prices in Portland and Raises Questions About Oregon’s Energy Future Willamette Week reported: In October, a natural gas pipeline ruptured outside a British Columbia town called Prince George, sending a fireball skyward. The aftershocks from that blast are still […]
Markets once again took a hit as global equities sold off and the US Dollar rose – together signaling continued weakness in emerging economies. Although the news has been generally bullish lately (including OPEC cuts, Canadian cuts, and Libyan production outages), markets have struggled to break out from the overall bearishness in financial markets. This […]
