Oil markets have stabilized somewhat after yesterday’s precipitous drop in prices. All in, the decline saw prices fall $3.50/bbl, the largest drop since December. Fun fact – the largest price drop in WTI crude history was a $14.31 drop on September 23, 2008; in the last five years, the largest drop was $7.54 on November […]
As of Friday’s open, the crude market is down for the week. The week started out relatively flat as markets could not decide which way to go. Deteriorating U.S.-China trade negotiations and a strong dollar moved oil prices lower in the beginning of the week. Tensions with Iran and geopolitical instability pushed oil prices in […]
Natural Gas News – May 24, 2019 Maine natural gas company has big plans to turn cow manure into renewable energy WGME News reported: Summit Utilities said Thursday that it will invest $20 million and create up to eight full-time jobs in a partnership with eight Clinton- area dairy farmers in a project designed to […]
The bottom fell out from the market yesterday following a strongly bearish EIA report, and this morning prices are continuing their tumble. Crude oil is trading at $58.22, a hefty loss of $3.20 (-5.2%) for the day. Fuel prices are also shaping up for some of the largest weekly losses this year. Diesel prices are […]
Natural Gas News – May 23, 2019 Saudi Arabia wants to buy tons of American natural gas CNN reported: Saudi Arabia has placed a huge bet on American natural gas. In a sign of shifting energy fortunes, Saudi Aramco announced a mega preliminary agreement on Wednesday to buy 5 million tons of liquefied natural gas […]
Natural Gas News – May 21, 2019 Natural gas supplies to Pemex, other state entities to be prioritized: CFEnergia S&P Global reported: Mexican state fuel marketer CFEnergia will prioritize natural gas supplies to stateowned companies, including Pemex, boost industrial activity and even potentially participate in upstream activities under the new administration of President Andres Manual […]
Oil mostly lower as demand concerns pressure price, but Iranian tensions limit loss Oil futures moved mostly lower Tuesday, with U.S. prices pulling back from their best level in nearly three weeks, as the continuing U.S.-China trade dispute weighed on prospects for energy demand, but tensions in the Middle East provided some support. News that […]
Oil dipped lower yesterday afternoon and this morning continues to fall. Crude oil is currently trading at $62.36, down 77 cents (-1.2%) from yesterday’s close. Fuel prices are also moving lower, though moving slower than crude. Diesel prices are trading at $2.0618, down 1.8 cents (-0.8%). Gasoline prices are $2.0133, a 0.6 cent loss. Yesterday […]
Natural Gas News – May 21, 2019 Massive 2015 Natural Gas Leak Caused by Microbial Corrosion, Report Says Ars Technica reported: A massive natural gas leak at a storage facility in Southern California was caused by microbial corrosion of well equipment, according to a new independent report from analysis firm Blade Energy Partners. The report […]
Oil prices are trading flat this morning as a strengthening dollar puts downward pressure on oil, even with Iran looming in the background. Crude oil is currently trading at $63.00, down a mere 10 cents. Fuel Prices are trading moderately higher this morning, recovering from yesterday’s hefty dip. Diesel is currently trading at $2.0749, up […]
