After a downward hiccup yesterday morning, oil prices regained most of their losses by closing time. Today prices are rapidly pushing higher, once more above $60/bbl. WTI Crude is currently trading at $60.18, up 88 cents (1.5%). Fuel prices are up as well, though with weaker gains. Diesel prices are currently $1.9760, up 0.4 cents […]
For the week, the crude oil market was up. Early in the week, poor economic data brought the market down, as did a surprise inventory build reported by the EIA mid-week. The bulls came back to end the week on the tails of positive news from the U.S. – China trade negotiations. China proposed further […]
Oil turned lower yesterday following the EIA’s report, with losses continuing this morning. Prices saw sharp declines earlier in the day before bouncing a bit higher, though overall prices remain lower relative to yesterday’s close. Crude oil is currently trading at $58.86, down 55 cents from Wednesday’s close. Fuel prices both declined as well yesterday, […]
Natural Gas News – March 29, 2019 China To Cut City-Gate Natural Gas Prices And Pipeline Fees From April 1 S & P Global reported: uietly for much of the country, coal legend Pennsylvania has become the second most vital natural gas state. At over 18 Bcf/ d, Pennsylvania now yields over 20% of all […]
Natural Gas News – March 28, 2019 Denmark Wants a New Route for Nord Stream 2 Gas Pipeline Bloomberg reported: A controversial natural gas pipeline from Russia to Germany may be delayed after Denmark asked the company behind the link to investigate an alternative route. Denmark’s Energy Agency, which is carrying out an assessment on […]
While oil has made a run above $60/bbl several times recently during intra-day trading, the product has yet to maintain that level heading into the close. Yesterday saw WTI close just pennies short of the $60/bbl threshold. This morning, crude oil is trading at $60.12, 18 cents above yesterday’s close. Fuel prices are mixed, with […]
Oil’s Ascent: The Ride Is Only Beginning Oil prices have been volatile, but have generally been on the rise in recent months. Latest figures suggest we might already be experiencing a deficit in the market, but that deficit is about to explode. Market bulls should be very comfortable regarding recent trends because it points to […]
Natural Gas News – March 27, 2019 Commodity Traders Turn to LNG as Big Oil Profits Prove Elusive Bloomberg reported: With margins narrowing in the crude oil business, some of the world’s biggest commodity trading houses are helping to reshape the energy industry with a drive into liquefied natural gas. Gunvor Group Ltd., Trafigura Group […]
Oil is trading sharply higher this morning thanks to strengthening equity markets, particularly in Asian markets. Crude is currently trading at $60.05, up $1.23 (2.1%) since yesterday’s close. Fuel prices are also getting a boost, especially gasoline. In fact, gasoline and diesel prices are trading within just a few cents of each other, a far […]
Natural Gas News – March 26, 2019 EIA: Power Sector Pushed Domestic U.S. Natural Gas Consumption To New Record In 2018 World Oil reported: U.S. natural gas consumption increased by 10% in 2018, reaching a record high of 82.1 Bcfd, according to EIA’s recently released Natural Gas Monthly. Domestic consumption of natural gas increased across […]
