OPEC Increases Production without Firm Commitments

Oil prices soared higher on Friday after OPEC announced a weaker-than-expected increase in output. WTI gained $3/bbl (4.6%) on Friday as markets realized that OPEC still prefers higher prices and will not simply ratchet up production to keep prices lower. Today, crude prices have gained another 4 cents, trading at $68.62. Fuel prices also got […]

Natural Gas News – June 25, 2018

Natural Gas News – June 25, 2018 Future of Big Oil Increasingly Shaped by Fate of Global Gas Bloomberg reported: Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them […]

Natural Gas News – June 22, 2018

Natural Gas News – June 22, 2018 California Regulators Reject $639M Natural Gas Pipeline US News reported: California regulators have rejected plans to build a 47-mile natural gas pipeline in San Diego County after a judge ruled the $639 million project is unnecessary. The San Diego Union-Tribune says the California Public Utilities Commission rejected the […]

Week in Review

Oil markets gyrated between $64/bbl and $66/bbl, switching directions after every OPEC headline. The organization is meeting today to decide whether to increase production. Saudi Arabia and Russia support a 1 million barrel per day increase in production quotas, while Iran and Venezuela oppose any changes. Markets are expecting a middle-of-the-road decision from the group, […]

Today is the Day

Oil markets are moving higher as the highly anticipated OPEC meeting takes place in Vienna this morning. After some early morning losses, crude prices were able to find strength and end the day 20 cent higher during yesterday’s trading session. Today, oil prices are continuing their upward momentum, trading $1 higher than yesterday’s closing price, […]

Gasoline Briefly Dips Below $2/gal

Yesterday’s brief market rally for crude oil reverted back to losses overnight. Crude closes yesterday above $66/bbl, but this morning prices fell back below $65/bbl as markets look towards tomorrow’s OPEC meeting. Prices will likely swing wildly today and tomorrow as brief snippets and comments from OPEC members are released. Crude oil is currently trading […]

Natural Gas News – June 21, 2018

Natural Gas News – June 21, 2018 US, Canada Require Nearly $800 Billion Investment to Support Oil, Natural Gas Industries Daily Energy Insider: From now until 2035, a yearly investment of $44 billion — a total of around $791 billion — will be required on average to keep natural gas, oil and natural gas liquid […]

OPEC Headlines and NOPEC Lawsuit

The oil complex is mixed this morning as the market deciphers various OPEC related headlines. Crude traded lower yesterday, despite a supportive API report. This morning, crude has recovered most of yesterday’s losses and is trading up 73 cents at $65.80 currently. Fuel prices are moving opposite of crude this morning after the API reported […]

Mid-Week Snapshot

Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment.    Goldman Expects another Bull Run An odd prediction came from Goldman given the general bearishness going around the market. But Goldman points out that even with a 1 MMbpd production increase from OPEC (probably […]

Natural Gas News – June 20, 2018

Natural Gas News – June 20, 2018 US Approves Work on EQT Mountain Valley Natural Gas Pipe Oil and Gas Investor: U.S. federal energy regulators approved EQT Midstream Partners LP’s request to proceed with construction along various segments of its $3.5 billion Mountain Valley natural gas pipeline from West Virginia to Virginia. The segments include […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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