West Texas Intermediate is expected to average $5 less than Brent for 2015-2016 The Energy Information Administration (EIA) released its Short Term Energy Outlook (STEO) for the month of May, showing prices for both Brent and West Texas Intermediate (WTI) are stronger than in the past. Brent crude averaged $64/bbl in May while WTI averaged $59/bbl, both up $5 from
May’s uncanny price stability, Iraq production growth, OPEC’s unknowns and shale’s “Fracklog” all competing for visibility in global petroleum’s crystal ball West Texas Intermediate (WTI) oil prices have ranged from $57.26 to $60.93 for the entire month of May, offering the greatest sign of stability we have seen since November 2013. Analyst firms and oil companies are speaking with much
Prices up on EIA report Natural gas prices climbed above $3.00 per MMBtu yesterday for the first time since mid-January. Natural gas prices jumped about 4.1% to as high as $3.02 Thursday, following the release of the Energy Information Administration’s (EIA) report on weekly natural gas storage. The EIA report showed a natural gas injection of 111 Bcf for the
Government Energy Arm Releases 2015 Annual Energy Outlook The Energy Information Administration (EIA) released various energy-related projections through the year 2040 in its yearly release of the Annual Energy Outlook (AEO). In the 2015 edition, the EIA made five rather notable projections, including: Brent Prices will stay below $100 through 2028 The EIA shook the oil markets in its Short-Term Energy
The price of West Texas Intermediate (WTI) maintained weeks of stabilization before falling below $44/barrel on March 16, 2015 – the lowest since a price of $42.33 on March 11, 2009. WTI exceeded $50/barrel earlier in the month as the falling rig counts and flat production forecasts seemed to assist in pushing up the price, but sky-high inventories and recent
Goldman Sachs estimates near-term WTI prices could fall to $40 per barrel Oil prices could give back gains seen over the past few weeks, falling as low as $40 per barrel, according to Goldman Sachs. West Texas Intermediate (WTI) oil prices rose more than 20% between January and February due to supply disruptions in the Middle East, strong winter demand
OPEC Secretary General al-Badri says oil prices may have found the floor, but warns of future spikes Abdulla al-Badri, Secretary General of OPEC, thinks oil prices have reached their bottom and may start rising soon. He warned that under-investment now could lead to future supply shortages and bring the price of oil to $200 per barrel. “Now the prices are
The price of West Texas Intermediate (WTI) crude has taken the oil and gas industry for a wild ride since June. From north of $105, so far we’ve rocketed down the first hill of the rollercoaster and we’re still screaming with our eyes closed. But if you go by the published WTI price forecasts of 32 large banks, crude is
As indicated by EnerCom’s Natural Gas Roundup inventory report, gas levels fell in line with five year averages for the first time in nearly a full calendar year in the report issued on December 12, 2014. Storage levels were as much as 33% below the five year average in March, but a cooler summer, record injections and forecasts for a
Oil prices slid sharply in Monday trading, dropping by more than 4% to close at a five-year low of $63.02. Brent prices fell in similar fashion, ending the day below the $66.00 mark. Spot prices for WTI have dropped by 18.6% in the last month alone. The continuous price drop occurred the same day as three separate oil companies announced
The West Texas Intermediate (WTI) spot price sank to a four year low on November 25, 2014, closing at $73.86. The Brent price settled at $78.17. The drops for both benchmark prices wiped out gains made in recent days and added more speculation on the highly anticipated OPEC meeting, scheduled for Thursday, November 27. Four countries met in Vienna today,
In October, OAG360 examined the internal rate of return (IRR) in two of America’s key shale basins – the Eagle Ford (EF) and Bakken. EnerCom’s analysis showed the Eagle Ford is more economic than its rival basin by a handful of percentage points, no matter the price. Oil prices for West Texas Intermediate crude have hovered around the $75 per
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