Nat Gas News – November 3, 2017

Nat Gas News – November 3, 2017

U.S. Backs Out of Global Oil Anti-Corruption Effort

The Hill reported: The Trump administration said Thursday it would exit an international effort to fight corruption that targeted revenue from oil and natural gas extraction. The U.S. will no longer participate in the Extractive Industries Transparency Initiative (EITI), a global initiative that requires member nations to disclose their revenues from oil, gas and mining assets, according to Reuters. Under the agreement, the U.S. was required to reveal all the revenue it received from oil, gas and mining companies, and required those companies to publicly disclose the payments they make to the U.S. and other governments. U.S. Office of Natural Resources Revenue Director Gregory J. Gould sent a letter to the EITI’s board on Thursday announcing that the U.S. would exit the agreement “effective immediately.” For more visit thehill.com or click http://bit.ly/2gYAsSR

U.S. Oil Prices Mark Highest Settlement Since 2015

Marketwatch reported: U.S. benchmark oil eked out a modest gain Thursday, with concerns surrounding a potential rise in domestic production leaving prices vulnerable to a drop, but recent data showing a decline in crude and product stockpiles help prices rise to their highest finish since 2015. December West Texas Intermediate crude CLZ7, +0.28% tacked on 24 cents, or 0.4%, to settle at $54.54 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since July 2015, according to FactSet data. Brent oi l for January LCOF8, +0.31% rose 13 cents, or 0.2%, to $60.62 a barrel on the ICE Futures Europe exchange, but held below the more than 2 -year high of $60.94 it hit on Tuesday. Oil prices settled lower Wednesday, after U.S. benchmark WTI touched a more than twoyear intraday high above $55 a barrel and Brent crude, the global benchmark, retreated from July 2015 highs to post its first decline in seven sessions. For more visit marketwatch.com or click http://on.mktw.net/2lMKT0T

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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