CIBC’s Katherine Spector: “In the very short-term, while there may be a few more dollars of downside in the crude price, increasingly lopsided futures market positioning suggests that an end is probably near.”
The U.S. Energy Information Administration (EIA) released its July Short-Term Energy Outlook (STEO) today, showing lower production in the month of July as prices continue their downward trend. The …
Even OPEC has been feeling the pressure of low oil prices brought on by the decision to maintain production in November of last year. The organization released its monthly Oil Market Report (OMR) for …
Overall, WTI has declined roughly 25% just from the end of June, when prices were hovering around $60. The uneasiness plaguing the oil and gas sector have been …
Oil prices have been beaten down enough.
“Notorious” is an accurate descriptor of the oil and gas industry. When business …
The front month West Texas Intermediate contract is up $1.25 from yesterday’s close of $47.98 per barrel. The 2.3% increase in WTI front month contracts marked the first time …
Both Brent crude and West Texas Intermediate (WTI) saw a sharp fall on July 6, 2015, resulting from a variety of negative factors. WTI closed at $52.71, a 7.5% drop, while Brent tumbled …
The price of West Texas Intermediate (WTI) closed at a discount of $3.09 to Brent on June 19, 2015. The gap is the lowest in five months, when the spread narrowed to $2.76 at the closing of January 21.
WTI …
The Department of Energy reported a draw of (6,812) MBO from United States crude oil inventories for the week ended June 5, 2015, marking the largest draw of the year and the most since the …
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 …
Crude oil prices are trending along six month highs, prompting relief and optimism for the weary oil and gas industry. West Texas Intermediate seems to have stabilized around $60 for the time being, but not till after rig counts plunged …
Global oversupply has prompted companies to sell production volumes on the future strip prices, pushing their production into storage hubs like Cushing, Oklahoma. Since the beginning of …
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 …
John Hofmeister, former Shell Oil Company president, was on BNN today predicting the return–sooner than later–of much higher oil prices due to increasing decline rates, …
Groundhog Day might have been a scare for two out of three groundhogs, but not for the world’s oil bulls.
In spite of warnings of a short-lived rally from some banks, oil prices …
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 …
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 …
The oil and gas industry wasn’t given much of a respite following the unofficial ending to the holiday season. Oil prices continued their plunge on Monday, January 5, 2015, with West Texas Intermediate (WTI) and Brent prices closing at $49.78 …
The International Energy Association (IEA) released its Oil Market Report (OMR) for December, cutting the outlook for 2015 global oil demand growth by 230 MBOPD to 900 MBOPD on lower expectations for the Former Soviet Union and other oil-exporting countries, …
OPEC cut demand forecast for its crude oil to a 12-year low, sending oil prices, energy shares and the overall stock market into a dive on Wednesday. West Texas Intermediate (WTI) traded at a day low …
Following last Thursday’s announcement by OPEC that the cartel would maintain its present oil production levels, prices of West Texas Intermediate (WTI) crude closed at $66.15 per barrel on Friday. In early trading Monday, the U.S. benchmark hit a low …
CIBC’s Katherine Spector Lays Out a Few Scenarios
Head of Commodities Strategy for CIBC World Markets, Katherine Spector, hosted a conference call for CIBC clients on Wednesday morning in advance of both the U.S. Thanksgiving Day holiday and tomorrow’s …
West Texas Intermediate and Brent crude prices are both up today with strong U.S. economic data and hopes of OPEC production cuts possibly coming on Thanksgiving day, but experts are divided on whether prices will continue to climb. WTI traded …
When and where will the dust settle?
Brent crude traded at $86.50 Tuesday morning, at the same time WTI was trading at $84.25. By midday they were both down, to $86.00 and $82.66, respectively. By afternoon, Brent was off …
Investors nervous as oil prices and energy stocks continue to decline
Oil and gas investors hoping for a recovery on Monday would have no such luck. Prices for crude continued to drop as trading concluded on October 13, 2014, and …
E&Ps and OilService companies are watching closely to see where oil ends up after a week-long price slide that has dragged down shares of oil and gas companies along with it. With OPEC output rising in recent months and both …
The stock market posted its second straight day of sizable losses on Tuesday, and the oil market was not spared from the bullish trading. West Texas Intermediate (WTI) for November delivery closed at $88.85, a 17-month low, on October 7, …
On Monday, U.S. crude oil, reacting to a less worrisome geopolitical climate in Iraq and Ukraine, fell to its lowest level since January at $92.66 for October delivery.
Monday’s “biggest decliners in the S&P 500 were oil drilling and exploration …
Production in the Permian is at an all-time high, but its prices per barrel are a different story.
Spot prices at the Permian’s main hub in Midland, Texas, are trending among three-year lows. Its differential on August 25, 2014, was …
Energy XXI’s Chairman and CEO John Schiller appeared on CNBC’s Mad Money to talk about the disconnect between WTI and Brent crude oil prices, EXXI’s joint venture with Apache to explore the Gulf of Mexico shelf, and the company’s strategy …
