The Week Ahead For Crude Oil, Gas and NGLs Markets – Dec 30, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories decreased by 5.5 MMbbl according to last week’s report from the US Energy Information Administration. Gasoline inventories increased 2.0 MMbbl while distillate inventories decreased 0.2 MMbbl. Total petroleum inventories posted a substantial decrease of 10.2 MMbbl. US crude oil production increased 100,000 bbl/d on the week, while crude […]
Prices Rise with Large Crude Withdrawal
[contextly_auto_sidebar] US crude oil stocks decreased by 5.5 MMBbl. Gasoline inventories increased 2.0 MMBbl and distillate inventories decreased 0.2 MMBbl. Yesterday afternoon, API reported a large crude oil draw of 7.9 MMBbl alongside gasoline and distillate builds of 0.56 MMBbl and 1.68 MMBbl, respectively. Analysts were expecting a smaller crude oil draw of 1.8 MMBbl. […]
Prices Steady Despite Withdrawal Higher Than Expectation
[contextly_auto_sidebar] Natural gas storage inventories decreased 161 Bcf for the week ending December 20, according to the EIA’s weekly report. This was above the market expectation, which was a draw of 155 Bcf. Working gas storage inventories now sit at 3.250 Tcf, which is 518 Bcf above inventories from the same time last year and […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – 12/23/2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories decreased by 1.1 MMbbl the week that ended Dec. 13, according to last week’s report from the US Energy Information Administration. Gasoline inventories increased 2.5 MMbbl while distillate inventories increased 1.5 MMbbl. Total petroleum inventories posted a decrease of 0.9 MMbbl. US crude oil production was flat on […]
Local Economic Volatility in Oil Patch Boom and Bust Cycles
Boom and bust cycles come with the territory in the oil patch. We’ve all seen variations on the theme, like the bumper stickers that pleaded, “Lord, give me another oil boom and I promise I won’t piss it away!” And we’re all schooled in the idea that when a boom moves through an area, everything […]
Prices Push Higher on Gas Withdrawal Above Expectation
[contextly_auto_sidebar] Natural gas storage inventories decreased 107 Bcf for the week ending December 13, according to the EIA’s weekly report. This was above the market expectation, which was a draw of 102 Bcf. Working gas storage inventories now sit at 3.411 Tcf, which is 618 Bcf above inventories from the same time last year and […]
Prices Supported By The Drop In The Inventory Report
[contextly_auto_sidebar] US crude oil stocks decreased by 1.1 MMBbl. Gasoline and distillate inventories increased 2.5 MMBbl and 1.5 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 4.7 MMBbl alongside gasoline and distillate builds of 5.6 MMBbl and 3.7 MMBbl, respectively. Analysts, to the contrary, were expecting a crude oil draw of 1.29 […]
Austerity Coming to Appalachia in 2020 as Price Outlook Worsens
The price outlook for natural gas is currently worse than it was a year ago, thanks to rapidly growing U.S. output driven by associated gas from oil production. As of Dec. 9, the 12-month strip price for Henry Hub is $2.27/MMbtu compared to $3.29/MMbtu a year ago. The Energy Information Administration (EIA) estimates that U.S. […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – December 16, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories increased by 0.8 MMbbl the week that ended Dec. 6, according to last week’s report from the US Energy Information Administration. Gasoline inventories increased 5.4 MMbbl while distillate inventories were up 4.1 MMbbl. Total petroleum inventories posted a significant gain of 17.2 MMbbl. US crude oil production was […]
Power Price Volatility to Rise in 2020 as Renewables Gain Market Share
The influence of renewable energy in power generation is rising across the U.S. Growing adoption is creating an increase in wholesale price volatility, which we expect will expand in importance with the new decade. Much of the uptick to price volatility is caused by a reduced dependence on thermal units. These units are power stations […]