Featured Articles

Jul 04, 2015

Forecast & Analysis

U.S. Spill Settlement Lets BP Turn Page on Dark Chapter

By Sarah Kent And Justin Scheck LONDON-- BP PLC's $18.7 billion deal to settle all federal and state claims from the deadly Deepwater Horizon spill in the Gulf of Mexico lets the company leave behind a dark episode... Full Story

PIRA: US Oil Output Lower Than EIA Says -- Market Talk

Oil prices skidded this week after the EIA reported output grew to 9.7M barrels/day in April, a 44-year high. But PIRA Energy's data put the month's production closer to 9.3M, which would mean US output is falling. Most of the difference is in Texas, says PIRA's Gary Ross... Full Story

Macro Hedge Funds Were Drilled on Monday -- Barron's Blog

By Chris Dieterich Is your macro-focused hedge fund actually hedging your portfolio against brisk market declines? It likely didn't on Monday, when the U.S. stock market suffered its biggest one-day slide in over a year in a flurry of Greek-debt concerns... Full Story

Saudi Arabia to Break Records for Oil Output this Summer -- Market Talk

Top oil exporter Saudi Arabia is set to break records for oil production analysts say, as domestic-energy needs soar during the holy month of Ramadan and its scorching summer between June and September, threatening its ability to ramp up exports. The kingdom, which produced a near-record 10... Full Story

Global Crude Supplies to Grow in 2016 -- Market Talk

As oil supply exceeded demand in 2014 and early this year, most of the spare crude went into storage. That won't change much next year, Petromatrix says... Full Story

No Imminent Turnaround Seen for Integrated Oils Sector -- Market Talk

"The sector has been horrible and now looks trapped." That's Deutsche Bank's bleak view of Europe's integrated oil companies... Full Story

Top News Stories

Iran's Giant Super-Tanker Fleet Eyes Western Waters

By Benoît Faucon TEHRAN--Iran's biggest oil shipping company has amassed the world's largest fleet of super tankers and is in talks to sail back into western waters should the Islamic Republic strike a nuclear deal, according to senior officials... Full Story

Oil Rigs Increase by 12 to 640 in First Gain This Year

by Lynn Doan July 2, 2015 Drillers put rigs in U.S. oil fields back to work for the first time since December, driving down crude futures on speculation that an unprecedented retreat from the country’s prolific shale formations is ending. Rigs targeting oil in the U.S... Full Story

Shale Boom Shows Strength as Rigs Gain With Oil Under $60

by Lynn Doan and Dan Murtaugh July 2, 2015 For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price. The last time they added rigs, crude futures were trading near $70 a barrel... Full Story

Mexico Plans Auction of 244 Oil Fields by 2019 to Boost Output

by Adam Williams July 2, 2015 Mexico plans to auction 244 onshore and offshore oil fields in the next five years as the historic opening of the country’s energy industry aims to add 1 million barrels of production by 2025. The fields contain 68... Full Story

Angola Gets $650 Million World Bank Support to Ease Crisis

by Manuel Soque July 2, 2015 The World Bank agreed to give Angola $650 million in financial support to help stabilize an economy that’s reeling from a plunge in oil prices... Full Story

China Wary of Closer Russia Energy Ties, Ex-Cnooc Economist Says

by Dina Khrennikova July 2, 2015 China is wary of expanding energy investments in Russia because closer ties with the Kremlin could harm its relations with the U.S., according to a former researcher at China’s biggest offshore explorer... Full Story

Financial

Natural Gas Gets Boost from Another Low Weekly Storage Addition

By Timothy Puko Natural gas prices rose Thursday after another sign the market's longstanding oversupply may be relenting. The U.S. Energy Information Administration said producers made a lower-than-normal addition to storage for a second-straight week... Full Story

Nymex Crude Settles Down 3 Cents, or 0.1%, at $56.93/Bbl

Nymex Crude Falls 4... Full Story

Oil Heads for Biggest Weekly Drop Since March as Rig Count Gains

by Ben Sharples July 2, 2015 Oil headed for the biggest weekly decline since March as the number of active drilling rigs in the U.S. rose for the first time this year. Futures in New York slid a third day and were down 5.2 percent for the week... Full Story

Natural Gas Gets Boost from Another Low Weekly Storage Addition

By Timothy Puko Natural-gas prices are rising Thursday after stockpiles grew slightly less than already-low expectations suggested. The U.S. Energy Information Administration said storage levels grew by 69 billion cubic feet in the week ended June 26... Full Story

Oil Advances as Expanding U.S. Payrolls Signal Greater Fuel Use

by Mark Shenk July 2, 2015 Oil rose from the lowest level since April as U.S. jobs data pointed to a moderate pace of economic growth in the world’s biggest crude-consuming nation. West Texas Intermediate for August delivery gained 43 cents to $57... Full Story

Natural Gas Retreats on Cooler Weather Forecasts

By Timothy Puko Natural gas sank Wednesday after weather models showed a growing consensus in favor of unseasonably cool weather on the way, a likely precursor to soft demand. Prices for the front-month August contract settled down 4.9 cents, or 1.7%, to $2... Full Story

Releases

Brazil Federal Police Arrest Another Former Petrobras Executive

By Rogerio Jelmayer SÃO PAULO--Brazil's federal police have arrested another former executive of state-run energy company Petróleo Brasileiro SA, or Petrobras, as part of an investigation into a broader corruption scandal that has wounded the country's largest company... Full Story

Oil-Tanker Billionaire Fredriksen Revives Market-Share Quest

by Jonas Cho Walsgard and Alaric Nightingale July 2, 2015 John Fredriksen, the billionaire who made his fortune investing in crude tankers, is reuniting two businesses he split three years ago to help gain a greater share of the oil-shipping market. Frontline Ltd. will pay about $1... Full Story

BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill

by Margaret Cronin Fisk, Laurel Brubaker Calkins and Del Quentin Wilber July 2, 2015 BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill... Full Story

Petrobras Climbs With Ibovespa Amid Plans to List Fuel Division

by Denyse Godoy July 2, 2015 Petroleo Brasileiro SA, the world’s most-indebted oil producer, led gains in the Ibovespa on plans to list its fuel unit as it seeks to raise cash... Full Story

Glencore Hires Oil Fund Managers as Wall St. Financiers Retreat

by Javier Blas and Andy Hoffman July 2, 2015 Glencore has beefed up its derivatives oil trading by hiring the founders of two hedge funds, another sign that commodity trading houses are benefiting from the retreat of Wall Street financiers from natural resources... Full Story

Oil Selloff Sinks Petrobras as Ibovespa Extends Weekly Decline

by Denyse Godoy July 1, 2015 Petroleo Brasileiro SA, the world’s most-indebted oil company, led losses in the Ibovespa as oil slumped on concern supplies are too high. Shares of Petrobras extended a three-day plunge as crude sank 4.2 percent to $56.96 a barrel after data showing U.S... Full Story

Weather

El Nino Gains Strength as Pacific Warms Just Like It's 1997

The El Nino developing across the Pacific strengthened further, according to Australia’s Bureau of Meteorology, which again highlighted patterns shown by the data that are similar to the record 1997-1998 event... Full Story

Tropical Storm Bill Downgraded; Flood Worries Remain -- Market Talk

The National Hurricane Center downgraded Tropical Storm Bill to a tropical depression overnight, but flash-flooding and isolated tornado-watches remain a concern as Bill continues to churn north through Austin and into the Dallas-Fort Worth area. Dallas has already received 1... Full Story

Texas communities brace for another round of heavy rainfall

DALLAS (AP) — The eastern half of Texas was preparing for renewed flooding as Tropical Storm Bill approached the state's Gulf Coast. Galveston County officials already have directed voluntary evacuation of the low-lying Bolivar Peninsula, where Hurricane Ike wiped out most structures in 2008... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 6-19-2015 Our prediction for week ending 6-26-2015
2508 2579
Weekly change
+75up +71upest

Commodity Prices ($)

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