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Oct 20, 2014

Forecast & Analysis

Oil Price Pain In Emerging Markets: Russia, Venezuela, Middle East -- Barron's Blog

By Dimitra DeFotis Deutsche Bank updated its estimates for the profitability of major oil emerging market producers if crude prices stay low for awhile. Oil prices have dropped by more than 20% in the last few months, and declines accelerated in recent weeks... Full Story

Questions on Spending Discipline in Oil & Gas Sector -- Market Talk

The oil and gas sector has been trumpeting its renewed focus on spending discipline. But when it comes to splashing the cash only when returns justify, the industry has some way to go. Morgan Stanley has looked at the cash flow and spending of nearly 90 oil and gas companies over 15 years... Full Story

End to Oil Collapse in Sight for BofA, BNP Paribas

By Lynn Doan, Mark Shenk and Grant Smith Oct 17, 2014 Some of the world’s biggest banks say the collapse in oil is just about over. Bank of America Corp. and BNP Paribas SA predict prices will hold above $80 a barrel. Commerzbank AG also sees that level as a possible low for Brent crude... Full Story

Goldman Sachs Says Oil Rout Excessive on Oversupply Doubt

By Ben Sharples Oct 17, Oil’s collapse into a bear market is excessive because there’s no oversupply to justify the selloff, according to Goldman Sachs Group Inc... Full Story

Shale Boom Helping American Consumers as Never Before

By Dan Murtaugh and Lynn Doan Oct 17, 2014 Oil traders might see the 27 percent slide in global prices as a bear market. For U.S. consumers, it’s more like an early holiday gift. The drop in crude has pulled retail gasoline down more than 50 cents a gallon from the year’s high in April... Full Story

Crude Oil Drops as OPEC Gets Stubborn -- Barron's Blog

By Johanna Bennett With OPEC digging in its heels about production, crude oil prices fell briefly below $80 a barrel today... Full Story

Top News Stories

Russia's Putin: 'No Tragedy' in Current Low World Oil Price

By Gregory L. White MOSCOW--The recent plunge in the price of oil isn't a "tragedy" for Russia, which also has enough foreign-exchange reserves to control the resulting decline in the ruble, President Vladimir Putin said Friday... Full Story

Oil Rigs Slump by Most in Two Months After Prices Slide

By Lynn Doan and Dan Murtaugh Oct 17, 2014 Rigs targeting oil in the U.S. fell by the most in two months as producers curbed drilling following the biggest price rout since 2012. Oil rigs tumbled by 19 to 1,590, the lowest in six weeks and the biggest decline since Aug. 22, Baker Hughes Inc... Full Story

Oil Rigs Slump by Most in Two Months After Prices Slide

Some analysts have attributed the recent steep selloff in oil prices to seasonally weak demand due to refinery maintenance and argue that stronger refinery run rates in November and December will boost prices. Indeed, refineries should process an additional 2... Full Story

Non-Gulf OPEC Nations Push for Output Cut as Split Deepens

By Benoit Faucon Officials from non-Gulf OPEC producers are pushing for the cartel to enact an oil-production cut amid falling prices, signaling a new fracture that could put Saudi Arabia under pressure to tighten its spigots... Full Story

U.S. Imports of Saudi Crude Rebound From Four-Year Low

By Mark Shenk Oct 17, 2014 U.S. crude oil imports from Saudi Arabia rebounded last week from the lowest level in more than four years, government data show. Shipments from the desert kingdom doubled to 1.23 million barrels a day the week ended Oct... Full Story

Oil Tankers to China Jump to Nine-Month High Amid Crude Rout

By Naomi Christie Oct 17, 2014 The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases... Full Story

Financial

Oil Futures Halt Slide Notch Gain for Second Straight Day

By Christian Berthelsen Oil futures eked out a gain for a second straight session on Friday, at least temporarily arresting the steep slide that has dragged U.S. and global crude benchmarks into bear-market territory over the last four months... Full Story

Brent Crude Extends Rebound on Speculation Drop Excessive

By Moming Zhou Oct 17, 2014 Brent crude extended its rebound on speculation that a 25 percent drop from this year’s high was excessive. West Texas Intermediate was little changed after falling below $80 yesterday. Brent pared its fourth weekly loss... Full Story

Natural Gas Nears Yearly Low on Soft Demand Outlook

By Timothy Puko NEW YORK--Natural-gas prices have dropped back near their yearly lows as strong supply and lack of demand push a fourth straight session of losses. Natural gas for November delivery fell 2 cents, or 0.5%, at $3... Full Story

WTI Oil Extends Rebound on Speculation Drop Was Excessive

By Moming Zhou Oct 17, 2014 West Texas Intermediate crude extended its rebound from below $80 a barrel on speculation that a 24 percent drop from this year’s high was excessive. Brent gained after sliding to a four-year low yesterday. WTI pared its third weekly loss... Full Story

Natural-Gas Prices Fall on Larger-than-Expected Surplus

By Timothy Puko NEW YORK--Natural gas closed below $3.80 a million British thermal units for the first time in more than a month as a larger-than-expected addition to stockpiles pushed down prices. The front-month November contract settled down 0.4 cent, or 0.1%, to $3... Full Story

Oil Rebounds After Slipping to Fresh Lows

By Nicole Friedman NEW YORK--Oil prices rebounded Thursday as traders who had bet on lower prices locked in profits after the benchmark U.S. contract briefly dipped below $80 a barrel. Oil prices slipped early in the day to as low as $79... Full Story

Releases

Mexican Oil Giant Pemex Looks to Reverse Decline

By Laurence Iliff And Will Connors When Mexico's energy overhaul was signed into law in August, Emilio Lozoya, the chief executive of Petróleos Mexicanos, set a goal for the state oil giant that until recently would have seemed unrealistic: to regain its position as Latin America's biggest... Full Story

Teine Energy Said to Push Back Canada IPO Amid Oil Plunge

By Scott Deveau, Rebecca Penty and Doug Alexander Oct 17, 2014 Teine Energy Ltd... Full Story

CNPC Says Oil Slump Makes Meeting Profit Target Difficult

By Rakteem Katakey Oct 17, 2014 2:53 AM MT 0 Comments Email Print Facebook Twitter Google+ LinkedIn Save China National Petroleum Corp... Full Story

Pacific Rubiales Signs Pact With Pemex for Mexican Foray

By Andrew Willis Oct 17, 2014 Pacific Rubiales Energy Corp. (PRE) signed an agreement with Petroleos Mexicanos to study oil and natural gas ventures as Mexico opens up its energy industries to private investment for the first time in 76 years... Full Story

Royal Dutch Shell plc : Buyback of Own Shares

LONDON, October 16, 2014 /PRNewswire/ -- Royal Dutch Shell plc (NYSE: RDS.A) (NYSE:RDS.B) announces that on 16 October, 2014 it purchased for cancellation 1,060,000 "A" Shares at a price of 2069.51 pence per share... Full Story

Chesapeake Energy Sells Wells to Southwestern Energy for $5.38B

By Erin Ailworth And Chelsey Dulaney Chesapeake Energy Corp. Chief Executive Doug Lawler made his boldest move yet to reshape the debt-laden energy company, selling a big slice of its gas business to Southwestern Energy Co. for $5.38 billion... Full Story

Weather

Hurricane Gonzalo May Be Worst Bermuda Storm in 11 Years

By Brian K. Sullivan Oct 17, 2014 Gonzalo, classified as a major hurricane and bearing down on Bermuda with tree-snapping winds, is forecast to bring flooding and a life-threatening storm surge as it’s projected to be the worst storm to hit the territory since Fabian in 2003... Full Story

New York Gets Frigid Winter Warning From Siberia Snowfall

By Brian K. Sullivan Oct 15, 2014 The snow in Siberia is piling up, and if it keeps coming, people in New York may have to bundle up this winter... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 10-03-2014 Our prediction for week ending 10-10-2014
3205 3291
Weekly change
+105up +86upest

Commodity Prices ($)

Natural Gas4.167
Crude Oil93.64
Heating Oil2.9017
RBOB Gas2.8118
Coal59.03