Post Tagged with: "Oil Price"

Oil Continues Rally

Oil Continues Rally

WTI oil price continued its hot streak today finishing the day up 1.82% at $48.59 per barrel.  Uncontrolled forest fires in Canada have suppressed the supply of oil coming from that market, more than one million barrels have yet to …

Crude Oil and Rig Count Move in Unison

Crude Oil and Rig Count Move in Unison

As of last week, rig count is 78% lower than the previous low in 2010

Rig Chart

 

Crude oil price and rig count have moved primarily in conjunction with one another over the years. Rig count has fallen 81% since the …

T. Boone Pickens Thinks Oil is Going Even Higher

From Yahoo Finance

Many traders are waiting for oil prices to crash again, as a rally triggered by the falling value of the U.S. dollar fizzles. They could be waiting a long time.

“You could be at 50 or 60 …

May 16, 2016 - 12:00 pm Closing Bell Story‎, Commodity Pricing, Energy News
Oil Prices Jump Above $46 on Inventory Draw, EIA Revises Demand Up

Oil Prices Jump Above $46 on Inventory Draw, EIA Revises Demand Up

Crude oil inventories fell 3.4 MMBO during surprise week-over-week draw

Crude oil inventories fell today, giving markets a pleasant surprise, and sending WTI prices up above $46 per barrel.3 month chart wti

Economist expected a small build for the week ended May 6, …

Crude Oil Volatility Decreases

Crude Oil Volatility Decreases

Crude oil price volatility has declined since its peak in March according to a report from the EIA on May 10, 2016.

During the first three months of 2016, crude oil prices were relatively more volatile than in recent history. …

Is Oil About to Make a Head and Shoulders Move?

Is Oil About to Make a Head and Shoulders Move?

Chart Watching: a Hobby Resurrected

Oil price has been on a tear as of late with market watchers picking away at any scrap of data coming from the oil sector as to when the market will balance. WTI prices have …

Oil Climbs on Weak Dollar Despite Inventory Build

Oil jumped almost 3% on Wednesday April 27 to close above $45.33 a barrel for the first time since November 4, 2015, reaching new highs for 2016 amid mixed signs from the U.S. oil market and U.S. Federal Reserve. The …

Crude Oil Inventory

Crude Oil Inventory

April 20, 2016
CRUDE OIL INVENTORY ‘000 bbls (Week Ended 4/15/16)

Current: 538,611
Actual Build/(Withdrawal): 2,080
Economist Average Estimate: 2,295
Previous: 536,531

 

Oil & Gas 360

Oil & Gas 360

Oil & Gas 360


Analyst Commentary on Today’s Build

Crude Inventory WoW Build Below Expectations on Lower Imports and Higher Refinery

April 20, 2016 - 2:42 pm Analytics, Closing Bell Story‎, Feature Stories
Royal Bank of Canada Sees Two-Tier Oil Price Recovery

Royal Bank of Canada Sees Two-Tier Oil Price Recovery

Barriers remain, but oil above $50 in Q4 2016 likely: RBC

Crude oil prices are up today despite news over the weekend that no deal regarding the crude oil production freeze between OPEC and non-OPEC producers could be reached. …

Rig Count Falls Below 450, WTI Nudges $40

Rig Count Falls Below 450, WTI Nudges $40

The rig count continues to fall as prices rise

The U.S. rig count fell for the sixteenth straight week, according to information released by Baker Hughes (ticker: BHI) today. There are now just 443 rigs actively drilling in the U.S., …

Are the Oil Bulls Getting Ready to Run?

Are the Oil Bulls Getting Ready to Run?

We Have Created a Significant Supply Gap in the Years to Come: Andurand

Pierre Andurand, one of the foremost prognosticators of the oil collapse, has declared the beginning of a bull run on oil prices that will likely span the …

Source: theiet.org

Oil Prices Fall from Three-Month High As Iran Oil Production Ramps Up

Iran will not freeze production below 4 MMBOP – Iranian Oil Minister

Crude oil prices took a steep fall this morning as hopes that OPEC might curb production in order to reach a $50 per barrel price floor were diminished …

Rumors of a $50 OPEC Price Floor Send Prices Higher

Rumors of a $50 OPEC Price Floor Send Prices Higher

Brent crude oil broke $40 per barrel for the first time in 2016

Both U.S. and international crude benchmarks are up over 5% today as rumors of a potential OPEC price floor give new hope of a “fair price for …

Producers Waiting for $45 oil to Put on New Hedges

Just 14% of 2016 production hedged

With oil and gas prices holding lower for longer, many operators are looking for ways to protect as much of their production as possible. Hedges have offered some level of protection to producers through …

February 19, 2016 - 6:38 pm Closing Bell Story‎, Finance, Oil and Gas 360 Articles
Oil Market Balance will Return by the End of 2017: EIA

Oil Market Balance will Return by the End of 2017: EIA

The dreaded surplus is only 3 days’ production

Global oversupply in the oil market has almost become a curse word in the oil and gas industry. Since the OPEC decision to maintain output levels on November 28, 2014, the industry …

Raymond James Believes U.S. Rig Count will Breach 600 by Mid-2016

Raymond James Believes U.S. Rig Count will Breach 600 by Mid-2016

The current running rig count of 809 in the United States is the lowest in five years, but analysts from Raymond James Equity Research believe we haven’t reached the trough yet. Not even close.

In a market report issued on …

Oil Prices:  Argument for a V-Shaped Recovery – Part Two

Oil Prices:  Argument for a V-Shaped Recovery – Part Two

Two Wild Cards, Two Steps to Rebalance

(NOTE: Part One of this two-part analysis was published yesterday and can be accessed here.)


Wild Card No. 1: Iran

Iran is the loudest blender of the oil market margarita.

The EU …

Oil Prices: The Argument for a V-Shaped Recovery

Oil Prices: The Argument for a V-Shaped Recovery

  • Are we in the Middle of a V-Shaped Recovery that’s N-Shaped?

  • “Prices are too low for everybody”: Saudi Oil Chairman

Oil prices have been beaten down enough.

“Notorious” is an accurate descriptor of the oil and gas industry. When business …

Oil Prices Recover 2.2%, but Hold Near Multi-Month Lows

Oil Prices Recover 2.2%, but Hold Near Multi-Month Lows

Weaker dollar helps oil prices find $46

West Texas Intermediate prices gained 2.2%, or $1, Tuesday after loses Monday, rising to $46.17 per barrel on the New York Mercantile Exchange. The recovery was boosted by a weaker dollar, making oil …

Oil & Gas 360 Energy News

Crude Oil Recovery: A Take from Plains All American

Plains All American Pipeline (ticker: PAA) and its general partner, Plains GP Holdings (ticker: PAGP), held their 2015 Analyst Day in New York on June 4. The consortium began its presentation by reflecting on a section from its 2014 Analyst …

June 5, 2015 - 6:23 pm Midstream, MLPs, Oil and Gas 360 Articles
Oil Price Witches’ Brew

Oil Price Witches’ Brew

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 …

May 27, 2015 - 3:32 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
Chinese Oil Majors Hit Hard by Price Downturn

Chinese Oil Majors Hit Hard by Price Downturn

Sinopec announces FY 2014 results

China’s Oil major Sinopec (ticker: SNP) released its full-year 2014 results over the weekend, showing lower revenues despite continued growth in production. According to the company’s release, this was due to the dramatic fall …

U.S. Shale will Drive 30% Oilservice Spending Rebound in 2017: BI

Wells Fargo Expects Oil Prices to drop in Near-Term, Supply/Demand to Balance by Q4’15

The dust is settling on the first phase of the global oil market share war. Oil has been hovering around $50/barrel for nearly a week – a long-awaited relief to the industry which was wondering, exactly, where is rock bottom? …

February 9, 2015 - 6:13 pm Analytics, Commodity Pricing, Finance, Oil and Gas 360 Articles
Stifel: These Factors are Contributing to an Oil Price Recovery

Stifel: These Factors are Contributing to an Oil Price Recovery

Oil traders experienced a moral victory today, witnessing West Texas Intermediate (WTI) close at $52.13 – the highest since January 5, 2015. The spot price has rebounded 17% in less than a week, dating back to the closing of $44.45 …

Dana Gas Iraq Operations

‘Oil Prices are Too Low’ – President of Saudi Aramco

The President of state-owned Saudi Aramco says prices are too low, but it’s not Saudi’s responsibility to bolster them

Khalid al-Falih, President and CEO of state-owned Saudi Aramco, said that while prices are “too low for everybody,” it is not …

January 27, 2015 - 1:53 pm Oil and Gas 360 Articles, OPEC
Oil Prices: WTI Tops Brent as Export Options Gain Interest

Oil Prices: WTI Tops Brent as Export Options Gain Interest

The price of West Texas Intermediate (WTI) exceeded Brent for the first time since July 2013 today, before closing at $48.63 – just $0.14 below its spot price counterpart. In an interview with Bloomberg, John Kilduff, a partner at Again …

DNB Sees Bullish Signals in the Oil Patch

DNB Sees Bullish Signals in the Oil Patch

$70-$100 per Barrel for the Coming 5-10 Years

In its Oil Market Report sent to clients today, DNB Bank’s Oslo research team led by oil market analyst Torbjørn Kjus, said “we now believe prices have dropped to unsustainably low levels …

Chart of the Week: Oil Price Required to Balance State Budgets

Chart of the Week: Oil Price Required to Balance State Budgets

At 30.05 MMBOPD, OPEC member countries are today realizing approximately $1.453 billion less (using a WTI price) in gross revenue per day than they did six months ago.  Since Saudi Arabia announced its decision back on November 27, 2014, to …

January 9, 2015 - 3:10 pm Chart of Week, Oil and Gas 360 Articles
Oil. It’s What Drives the World.

Oil. It’s What Drives the World.

Hell no, I do not want to relive 1986!

Yesterday a client said, “It feels like 1986.”  We haven’t heard that since 1986, and that year was a pivotal one.

The United Kingdom and France announced plans to construct the …

January 8, 2015 - 7:14 pm Commodity Pricing, Oil and Gas 360 Articles, OPEC