Crude prices are down this morning to $49.45/bbl, after briefly surpassing $50/bbl in early morning trading. Prices are off .26 (.5%) from Friday’s close. Prices closed the day Friday at $49.71, a gain of $.54 (1.1%) from the opening price. Prices have been on shaky ground this morning, awaiting clearer news on Venezuela. For refined […]
Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment. Venezuela Sanctions Would Impact U.S. Fuel Consumers Now that Venezuela has officially violated Trump’s “redline” and elected officials to change their constitution, the U.S. is considering harsher sanctions. Fortunately, it appears that a full ban […]
Natural Gas News – July 31, 2017 Proposed Mountaineer XPress Gas Pipeline Clears Environmental Hurdles Platts reports: The second-largest natural gas expansion project proposed in the US Northeast reached a key milestone Friday, when the FERC released a favorable final environmental impact statement. FERC staff concluded there would be some adverse and significant impacts from […]
Crude prices broke through the $49/bbl threshold last night, and are currently at $49.06. Prices yesterday fluctuated between a low of $48.25 and $49.24, maintaining Wednesday’s gains and looking for more bullish news to justify a push to $50/bbl. Refined products are also slightly higher this morning. Diesel prices have gained $.0039 (.24%) since yesterday […]
After weeks of upward momentum that could only be described as a non-starter, oil prices a firmly higher this week, drawing strength from the EIA’s impressive inventory report on Wednesday and strengthening fundamentals. Crude prices gained over $3.50 (7.8%) this week from its opening price on Monday of $45.46/bbl. Prices opened this morning at $49.17/bbl, […]
Natural Gas News – July 28, 2017 PSE&G Proposes Five-Year Program to Continue Natural Gas Infrastructure Upgrades Benzinga reports: Public Service Electric and Gas Company (PSE&G), New Jersey’s largest utility, today unveiled a proposal for the second phase of its natural gas infrastructure modernization program. If approved by the New Jersey Board of Public Utilities […]
Crude prices are $48.46/bbl this morning, lacking strong directionality following yesterday’s nearly flat trading. Prices rose a mere $.24, or .49%, following the release of the EIA data, which was decidedly less bullish for crude prices than Tuesday’s API report. Still, yesterday’s report confirmed that inventories are finally below 2016 levels for this time of […]
The U.S. Energy Information Administration (EIA) has released its 2017 World Oil Transit Chokepoints report highlighting chokepoints that are part of major trade routes for global seaborne oil transportation (Figure 1). Chokepoints are narrow channels along widely used global sea routes for oil transport, with some so narrow that restrictions are placed on the size of the […]
Natural Gas News – July 27, 2017 Somerset Energy Center Monitoring System Should be Complete by October Commonwealth Journal reports: A team of engineers from Texas has just completed identification of 15 control and monitoring points along Somerset’s natural gas pipeline system in Eastern Kentucky, Somerset Mayor Eddie Girdler said this week. With the monitoring […]
Crude prices are up this morning at $48.40, gaining $.51 (1.06%) since closing yesterday. Prices soared higher yesterday in repose to the API inventory report, posting their largest percentage gain (3.08%) of the year, and the second largest absolute price gain ($1.43). Prices this morning are slightly down ($.11) from their opening price this morning, […]
