The oil complex ended on an upswing yesterday, with crude closing just shy of $55/bbl while fuel prices closed that their highest level since before Thanksgiving. Crude oil is currently trading at $55.34, a gain of 93 points from yesterday’s close. Fuel prices are also trading higher this morning. Diesel prices are currently trading at […]
As the week comes to a close, oil prices are quickly rising towards the upper end of the $53-$55/bbl range in which WTI crude has been bound for the last few weeks. Whether or not this will be the market’s opportunity to break from this range is yet to be seen. Recent economic data, including […]
Natural Gas News – February 15, 2019 Shutdown of Historic Field Forces Dutch to Look Abroad for Gas World Oil reported : After decades of supplying itself and its European neighbors with natural gas, an era has officially come to an end for the Netherlands. The country became a net importer for the first calendar […]
By Dan Luther While every PADD saw declining refinery utilization rates last week, the strong majority of the decline came from PADD 1 and 2 – a result of the Polar Vortex. Cold weather causes significant operational issues for refineries, which in turn affects fuel supplies regionally. Several refineries in the Midwest and Northeast were […]
Natural Gas News – February 13, 2019 Pompeo Says Nord Stream 2 Natural Gas Pipeline Brings ‘Enormous Security Risk’ to Europe S&P Global reported: US Secretary of State Mike Pompeo said Tuesday the US would keep fighting the 55 Bcm/year Nord Stream 2 natural gas pipeline, declining to rule out the possibility of leveling sanctions against […]
Oil prices took a heavy hit yesterday amid a broader selloff in financial markets. After trading lower this morning, oil prices have regained their previous levels. Crude oil is currently trading at $52.74, with losses turning to small 10 cent gains after the product lost roughly $1.40 yesterday. Fuel prices have also turned a bit […]
After prices were bid up last week among Venezuela sanctions, markets reverted lower again on profit-taking and reduced economic growth prospects for this year. Oil prices have been fairly range-bound, so prices simply bounced off their Friday high to trade lower this week. While stocks have made a significant recovery since their November bear market, […]
Natural Gas News – February 8, 2019 Total Makes ‘Game-Changing’ Gas Condensate Find Off South Africa S&P Global reported: Total has made a “significant” gas condensate discovery offshore South Africa, opening up a new natural gas and oil play off the southern tip of Africa expected to spark a new round of drilling in the […]
Natural Gas News – February 7, 2019 Fire Fuels Concerns Over Consumers’ Natural Gas System The Detroit News reported: Last week’s fire at a Consumers Energy compressor station in Macomb County during a record-breaking cold snap exposed vulnerabilities — as well as strengths — in the system that supplies natural gas to 4.1 million Michiganians, […]
Urea pricing this year has been driven by the global energy market, changing dynamics with China’s production capacity and global demand. The chart below shows the changes in NOLA Urea over the past 18 Months. As energy prices rose and marginal production was shut down in China, values rose which subsequently raised the DEF market. […]
