Oil companies’ proved reserves decline for second consecutive year as finding costs remain near historical average

Information in the 2016 annual reports of 68 publicly-traded oil companies indicates that their aggregate proved reserves declined in 2016 for the second consecutive year. In addition, reported finding costs—which are exploration and development expenditures per barrel of proved reserves added—remain near their historical average. The decline in proved reserves was heavily concentrated in a […]

Nat Gas News – June 5, 2017

Nat Gas News – June 5, 2017 In the News Benefits-versus-politics battle rages over U.S. Northeast’s natural gas needs Daily Energy Insider reports: New York Gov. Andrew Cuomo’s administration recently announced that construction would begin later this year on a new microgrid to power Empire State Plaza in Albany, a downtown complex housing several state […]

Today’s Market Trend

WTI crude prices have dropped to approximately $47.00-$47.50/b this morning. WTI prices languished yesterday and closed at $48.36/b. WTI opened at $48.04/b today, a decline of $0.59, or 1.21%, below yesterday’s opening price. Current prices are $47.39/b, down significantly by another $0.97 below yesterday’s closing price. Diesel opened at $1.5001/gallon this morning. This was a […]

Weekly Price Review

Oil prices declined significantly this week. Prices had surged in the lead-up to May 25’s OPEC meeting. The meeting concluded with a nine-month extension to the existing production cut agreement, yet the market apparently had wished for deeper and more immediate cuts. WTI is back below the $47.50/b level, and has fallen below $47/b this […]

Nat Gas News – June 2, 2017

Nat Gas News – June 2, 2017 In the News U.S. Department of Energy Authorizes Additional Liquefied Natural Gas Exports from an Offshore Project Energy.gov reports: The U.S. Department of Energy announced today that it has approved a long-term application to export liquefied natural gas (LNG) from the first offshore project, Delfin LNG, LLC (Delfin). […]

Today’s Market Trend

WTI crude prices are approximately $48.25-$48.50/b this morning. Yesterday, prices continued to weaken, falling as low as $47.73 before recovering modestly to close at $48.32/b. WTI opened at $48.63/b today, a drop of $1.02, or 2.05%, below yesterday’s opening price. Current prices are $48.26/b, down by $0.06 below yesterday’s closing price. Diesel opened at $1.5234/gallon […]

Gasoline Prices Ahead of Memorial Day Were Higher than 2016, but Second Lowest since 2009

Gasoline prices heading into Memorial Day weekend average $2.40 per gallon (gal) nationally, up from last year’s price of $2.30/gal. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of retail regular gasoline was $2.31/gal. Relatively low crude oil spot prices, weaker […]

Nat Gas News – June 1, 2017

Nat Gas News – June 1, 2017 In the News GAZ Metro Looks to Send Liquefied Natural Gas into Vermont VT Digger reports: The parent company of Vermont Gas Systems, which recently completed a natural gas pipeline in Vermont, is now offering another fuel option to businesses in the state: liquefied natural gas. Gaz Metro […]

Today’s Market Trend

WTI crude prices have retreated to the $48.50-$48.75/b range this morning. Yesterday brought a rally that reclaimed the $50/b mark for a time, but prices subsided through closing, and they ended up down by $0.27 for the day. WTI opened at $49.65/b today, a decline of $0.28, or 0.56%, below yesterday’s opening price. Current prices […]

EIA Gasoline and Diesel Retail Prices Update

The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended May 29th, 2017. The data release was delayed by one day in observance of Memorial Day. Prices for diesel rose significantly, while gasoline prices rose modestly. Retail prices followed crude prices up during the week leading […]

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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