Bullish EIA STEO Lift Markets

On Tuesday, WTI Crude finished the day up.  It spiked mid-session on the news that OPEC+ may keep supply cuts in place past June.  Crude prices are flat this morning, as traders weigh possible OPEC+ plans to deepen supply cuts against demand concerns made worse by a possible second wave of coronavirus infections as countries […]

Mid-Week Review – May 13, 2020

Oil inventories soar yet again despite demand rebound The American Petroleum Institute (API) estimated on Tuesday another sizeable crude oil inventory build, of 7.58 million barrels for the week ending May 8, even as several U.S. states begin the slow process of reopening specific segments of their battered economies.  Click here to read more from […]

EIA expects natural gas to be largest source of U.S. electricity generation this summer

EIA’s April 2017 Short-Term Energy Outlook (STEO) expects that electricity generation fueled by natural gas this summer (June, July, and August) will be lower than last summer, but it will continue to exceed that of any other fuel, including coal-fired generation, for the third summer in a row. The projected share of total U.S. generation […]

Average crude oil prices forecast to rise as markets move toward balance

Source: EIA Short-Term Energy Outlook The U.S. Energy Information Administration’s (EIA) January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. Average forecast prices rise to $56/b and […]

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