Post Tagged with: "Prices"

U.S. liquefied natural gas exports have declined by more than half so far in 2020

U.S. liquefied natural gas exports have declined by more than half so far in 2020

EIA


Daily natural gas deliveries to U.S. facilities that produce liquefied natural gas (LNG) for export were a record 9.8 billion cubic feet per day (Bcf/d) in late March 2020, but deliveries fell to less than 4.0 Bcf/d in June, …

June 23, 2020 - 9:00 am EIA News That Matters, Natural Gas News, Uncategorized
Lower crude oil prices will mean less exploration and development

Lower crude oil prices will mean less exploration and development

EIA


According to the financial reports analyzed by the U.S. Energy Information Administration (EIA), global expenditures related to oil and natural gas exploration and development (E&D) increased $42 billion (13%) for 102 publicly traded oil companies in 2019, totaling $361 …

WTI crude oil futures prices fell below zero because of low liquidity and limited available storage

WTI crude oil futures prices fell below zero because of low liquidity and limited available storage

EIA


On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of …

EIA forecasts U.S. crude oil production to decline because of low oil prices – STEO foretasted below $45 per barrel through 2021

EIA forecasts U.S. crude oil production to decline because of low oil prices – STEO foretasted below $45 per barrel through 2021

EIA


In the April 2020 update of its Short-Term Energy Outlook (STEO), released on April 7, and before a recently announced agreement by oil producing countries to limit production, the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil …

OPEC shift to maintain market share will cause global inventory increases and lower prices

OPEC shift to maintain market share will cause global inventory increases and lower prices

EIA


Markets for oil, as well as other commodities and equities, have experienced significant volatility and price declines since the final week in February amid concerns over the economic effects of the 2019 novel coronavirus disease (COVID-19). More …

Source: CNBC

Saudi Arabia, Russia oil dispute is about the ‘restructuring of supply,’ says a strategist

CNBC


The oil price rout this week may be a chance for the industry to restructure and could ultimately be a positive for the market, a strategist said on Wednesday.

The oil markets tanked Monday, plunging over 20% following a …

OPEC keeps curbs - Saudi Arabia Minister of Energy Khalid Al-Falih - Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

From The Houston Chronicle


Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

From Reuters


Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

Brent Oil Retreats as Trump Tweets, Sanctions Muddy Iran Policy

Brent Oil Retreats as Trump Tweets, Sanctions Muddy Iran Policy

From Bloomberg


WTI futures gain, as some see demand rising for U.S. barrels, why protect key Persian Gulf transit point, president asks?

Oil investors delivered a split decision Monday that reflected the muddy outlook for the U.S.-Iran confrontation, with global …

Crude Leaps as OPEC+ Eyes Meeting Date, Europe Talks Stimulus

Crude Leaps as OPEC+ Eyes Meeting Date, Europe Talks Stimulus

From Bloomberg


Oil cartel proposes early July gathering as stalemate eases, WTI extends gains further after API sees declining stockpiles

Oil surged to its biggest gain in five months as OPEC and its allies moved closer to a meeting to …

Source: Islamic Republic News Agency

Oil Spikes After ‘Suspicious’ Tanker Attacks in Middle East

By Tyler Losier, Energy Reporter, Oil & Gas 360

Two vessels seriously damaged after seemingly intentional strike
Two tankers were attacked Thursday near the Strait of Hormuz in the Gulf of Oman, leading to a spike in oil prices as

Oil Rallies on Expectations of Supply Reduction

Oil Rallies on Expectations of Supply Reduction

Oil rallies on expectations about supply reduction

February 12, 2019 - 11:22 am Closing Bell Story‎, Commodity Pricing, Press Releases
Brit Research Group Revises Oil Price Forecast Upward through Mid-2020s

Brit Research Group Revises Oil Price Forecast Upward through Mid-2020s

What the new OPEC with Russia and without Qatar means for energy prices: Cebr

Britain’s Centre for Economics and Business Research (Cebr) has revised its oil price forecast based on higher demand for oil and natural gas from non-OECD countries. …

Massive Nor’easter Pushes Gas Prices, Consumption to Record Levels

Massive Nor’easter Pushes Gas Prices, Consumption to Record Levels

New York spot prices reaching $46.50/MMBTU

A heavy winter storm roared through New England today, bringing high winds and snowfall to the region. Morning forecasts predicted New York could see snow accumulations of nine inches, and even higher snowfalls in …

Source: Sweetcrudereport.com

Largest Crude Draw of the Year Sends Prices North

The 5.2 MMBO crude oil inventory draw is the largest since December 2016

U.S. crude oil inventory levels fell 5.2 MMBO in the week ended May 5, according to the EIA, sending traders into action yesterday. Oil markets have been …

OPEC Talks Up Prices, But Oil Production Continues to Overflow

OPEC Talks Up Prices, But Oil Production Continues to Overflow

OPEC using the last arrows in its quiver to try to move oil prices: words

Prior to November 2014, OPEC acted as the swing producer, raising or lowering production in order to send prices one way or another. Since making …

Rig Count Slightly Dips as Oil Prices Falter on Continued Glut

Rig Count Slightly Dips as Oil Prices Falter on Continued Glut

U.S. rig count drops by 2 this week as prices dip nearly $3 below weekly high

The U.S. rig count snapped a streak of gains for the week ended September 9, 2016, according to information from Baker Hughes Industries (ticker: …

WTI Meets Definition of Bull Market as OPEC Talks About a New Freeze

WTI Meets Definition of Bull Market as OPEC Talks About a New Freeze

This time Iran indicates that it would be willing to cooperate with a new production freeze

Oil prices rose today as news that Iran may be ready to join a wider production freeze surfaced.

Both OPEC and non-OPEC producers such …

U.S. Rig Count Jumps 4%, Oil Prices Continue to Improve

U.S. Rig Count Jumps 4%, Oil Prices Continue to Improve

The U.S. rig count rose 17 rigs this week, but increased drilling doesn’t weaken oil prices

The U.S. land rig count continued to gain for the week ended August 12, 2016, with 17 additional rigs reported in the United States, …

Source: Sweetcrudereport.com

Oil Dips to $38 as the Market Waits for Actions, not Words

Words pushed prices higher, but for how long

Oil prices have staged a recovery over the last few weeks as members of OPEC and other large producers like Russia discuss the possibility of a production freeze. News that the world’s …

Total U.S. Rig Count Down by Four Last Week

Total U.S. Rig Count Down by Four Last Week

Oil Rig Count Rises by One, Oil Breaks $40 Barrier

The U.S. rig count continued falling for a thirteenth-straight week in the week ended March 18, 2016, according to information from Baker Hughes. The total count fell by four to …

Source: WPX

Rig Count Sees Largest Drop in Percentage Terms Since April

Oil prices and rig counts decline 4% following OPEC meeting

The total rig count for the United States in the week ended December 11, 2015, was down 4% from the previous week, the largest drop by percentage since the week …

WTI Price Increasingly Unstable Since OPEC 2014 Decision

WTI Price Increasingly Unstable Since OPEC 2014 Decision

The price of U.S. benchmark WTI crude is becoming increasingly volatile

WTI, OPEC

The price of U.S. crude oil benchmark West Texas Intermediate (WTI) has been increasingly volatile since November of last year, following the decision by OPEC to maintain production over …

Is the Dow Jones Industrial Average Range Bound?

Is the Dow Jones Industrial Average Range Bound?

How long will it be moving sideways?

Over the last year, the Dow Jones Indstrial Average (DJIA) has been moving sideways, prompting many to wonder if the index will break above its all-time high of 18,279 any time soon. Art …

May 12, 2015 - 6:24 pm Finance, Oil and Gas 360 Articles
Oil Prices Break $60

Oil Prices Break $60

WTI continues climb

West Texas Intermediate’s slow climb from lows of $43.46 in March reached a 2015 milestone today. The U.S. crude benchmark gained more than 3% on May 5, taking WTI over the $60 per barrel mark for the …

May 5, 2015 - 6:30 pm Oil and Gas 360 Articles
2015: Coal v. Natural Gas

2015: Coal v. Natural Gas

Could a drop in natural gas prices spur additional market share growth?

As we swing into spring earnings season, Q1 earnings are coming fast, along with questions surrounding the state of natural gas and oil prices.

In a non-oil and …

April 23, 2015 - 5:27 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
EIA: Iran Oil Exports Could Lower Prices up to $15 per Barrel

EIA: Iran Oil Exports Could Lower Prices up to $15 per Barrel

Iranian oil could potentially drop oil prices by $5 to $15 in 2016

The Energy Information Administration (EIA) released its Short-Term Energy Outlook (STEO) for April 2015 projecting that oil prices could drop by $15 if sanctions on Iran are …

April 15, 2015 - 6:36 pm International, Oil and Gas 360 Articles, OPEC
Oil Prices Down on Saudi Production Record, Huge Inventory Build

Oil Prices Down on Saudi Production Record, Huge Inventory Build

OPEC’s largest producer hit a 12-year production record last month

Saudi Arabia increased oil production to 10.3 MMBOPD in March, setting a 12-year high for production in the country. Saudi Oil Minister Ali al-Naimi said the Kingdom will continue producing …

Oil Prices Rally

Oil Prices Rally

Iran will add to the glut, but not right away

Oil markets were closed last Friday, but prices fell in electronic trade after reports of a framework Iranian nuclear deal raised concerns of added supply to an already over-supplied market. …

April 6, 2015 - 5:18 pm International, Oil and Gas 360 Articles, OPEC