Nat Gas News – August 16 2017

Nat Gas News – August 16 2017

Oil holds at 3-week low as traders brace for U.S. supply data

MarketWatch reports: Oil pared much of their earlier losses on Tuesday, with U.S. prices finishing just a few cents lower and holding ground at their lowest level in three weeks. Concerns over growing U.S. shale-oil production weighed on the market, but prices found some support from the latest forecasts calling for a decline in weekly U.S. crude supplies. Oil prices were already on the decline Monday, then worsened after the U.S. Energy Information Administration said it expects to see a climb in crude output from key U.S. shale regions of 117,000 barrels a day in September to 6.149 million barrels a day. For more on this story visit marketwatch.com or click http://on.mktw.net/2uGnqmn

How Elon Musk and cheap oil doomed the push for a different kind of fuel

Fortune reports: Back in 2008, the proposal by energy magnate T. Boone Pickens had some appeal. U.S. oil production was plunging, and the world’s biggest fuel-consuming country was becoming ever more dependent on foreign crude. Oil jumped to a record near $150 a barrel, while natural gas was comparatively cheap. Pickens co-founded Clean Energy Fuels Corp. to profit from the switch. The maker of natural gas filling stations was once valued at about $1.8 billion. By 2011, U.S. oil output began to surge with the shale boom. Three years later, prices for crude, diesel and gasoline were tumbling. While natural gas has become a staple for domestic power plants, supplanting coal, the prospect for cheaper alternatives made it less attractive as a vehicle fuel. For more on this story visit fortune.com or click the following link http://for.tn/2uZCoz2

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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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