Featured Articles

Nov 22, 2014

Forecast & Analysis

The 153-Year-Old Oil Well That Produces Nonstop in Boom and Bust

By Lynn Doan Nov 21, 2014 About 70 miles north of Pittsburgh, a pothole-pocked dirt road along the side of a warehouse leads to a solitary oil well, undisturbed by the recent plunge in crude prices. McClintock No... Full Story

Wells Fargo Trims Outlook on Oil Prices -- Market Talk

Wells Fargo thinks oil demand should rebound slightly due to lower prices, giving prices a lift from their current levels. But the firm doesn't foresee a return to the mid-$90/barrel area through 2018, and cuts its forecasts. Wells expects WTI prices in 2015 to average $83... Full Story

Confused OPEC Watchers Are More Divided Than Ever

By Grant Smith Nov 21, 2014 To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome... Full Story

Ukraine Clash Shows Azeris Who’s Boss as Russia Ties Bind

By Zulfugar Agayev Nov 21, 2014 Peeling away former Soviet republics from their U.S. and European allies is getting easier for Russia after its show of force in Ukraine. Azerbaijan is changing tack after months of steering clear of the showdown 1,500 kilometers (900 miles) away... Full Story

Cliffs Natural Resources: Why Deutsche Bank Cut Its Rating -- Barron's Blog

By Ben Levisohn After yesterday's announcement that Cliffs Natural Resources ( CLF) would look to exit its Bloom Lake project, Deutsche Bank's Jorge Beristain and team slashed their rating on the struggling iron miner to Hold from Buy... Full Story

Low Oil Prices to Test US Energy Boom -- Market Talk

Energy consultant and forecaster IHS forecasts US "tight" oil production growth to be 700k barrels a day in 2015, if oil prices average $77 a barrel. That's down from the more than 1M barrel of growth in 2014, but not derailed by low oil prices... Full Story

Top News Stories

Obama’s Punt on Renewable Fuel Sets Up Fights in Court, Congress

By Mark Drajem and Mario Parker Nov 21, 2014 The Obama administration’s decision to put off issuing quotas for the use of renewable fuels this year sets up fights in Congress and the courts over a program that’s been bitterly contested for nearly a decade... Full Story

OPEC Underestimated Resiliency of U.S. Oil Output: Yergin

By Jonathan Crawford and Mark Shenk Nov 21, 2014 OPEC was mistaken in thinking that U.S. shale oil production would be unprofitable once crude prices slipped below $90 a barrel, according to Pulitzer Prize-winning author Daniel Yergin... Full Story

Russia to Cooperate With Saudi on Oil While Avoiding Output Cuts

By Dina Khrennikova and Henry Meyer Nov 21, 2014 Russia and Saudi Arabia, the two largest crude exporters, have agreed to cooperate on oil markets. The Energy Ministry in Moscow said the country has no immediate plans to limit output to reverse plunging prices... Full Story

Iran Vows to Guard Oil-Market Share as OPEC to Review Output

By Golnar Motevalli and Anthony DiPaola Nov 20, 2014 Iran will protect its share of global crude sales under all circumstances, Oil Minister Bijan Namdar Zanganeh said, as OPEC members prepare to meet next week to review production levels... Full Story

U.S. EPA Said to Drop Renewable Fuel Quotas Planned for 2014

By Mark Drajem and Mario Parker Nov 21, 2014 The U.S. Environmental Protection Agency today will abandon its proposed rule setting renewable-fuel targets for 2014, according to people familiar with the decision... Full Story

JPMorgan Power Market Influence Targeted in Senate Report

By Harry R. Weber and Lynn Doan Nov 20, 2014 Lawmakers will hear about the influence big banks can have over the U.S. power markets when they can own plants, supply fuel to those units and trade based on the electricity they generate... Full Story

Financial

Oil Prices Higher on China's Surprise Rate Cut

By Tim Puko And Cassie Werber NEW YORK--Oil prices held on to small gains Friday, after an early rally was sparked by China's decision to cut interest rates, fanning hopes for increasing demand from the world's second-largest crude consumer... Full Story

Crude Rises as China Rate Cut Spurs Optimism About Demand

By Mark Shenk Nov 21, 2014 West Texas Intermediate and Brent crudes increased after China, the world’s second-largest oil-consuming country, cut interest rates to bolster its economy. WTI rose 0.9 percent and Brent 1... Full Story

Natural Gas Futures Retreat on Warmer Forecasts

By Timothy Puko NEW YORK--Natural gas prices have given back nearly two days of gains Friday in a strong response to slightly warmer weather forecasts. Natural gas for December delivery fell 14.6 cents, or 3.3%, to $4... Full Story

Oil Prices Jump on China's Surprise Rate Cuts

By Tim Puko And Cassie Werber NEW YORK--Oil prices jumped Friday after China surprised the market by cutting interest rates, fanning hopes of increased demand from the world's second-largest crude consumer. The news came at a key time for oil... Full Story

Crude Rises as China Rate Cut Spurs Optimism About Demand

By Mark Shenk Nov 21, 2014 West Texas Intermediate and Brent crudes rose after China, the world’s second-largest oil-consuming country, cut interest rates to bolster its economy... Full Story

Natural Gas Sets Four-Month High on Season's First Stockpile Drain

By Timothy Puko NEW YORK--Natural-gas prices closed at a new four-month high Thursday as an early burst of winter cold drains stockpiles for the first time this season. The Arctic chill that descended for about a week has exposed lingering fears about the potential for gas to skyrocket... Full Story

Releases

Exxon's Chemical Business President Set to Retire Jan. 1

By Maria Armental The head of Exxon Mobil Corp.'s chemical business will retire Jan. 1, the company said Friday. Stephen D. Pryor, 64 years old, joined Mobil Corp. in 1971. Exxon said in a prepared statement Neil A... Full Story

Statoil Cancels Angola Rig Contract After Dry Well

By Kjetil Malkenes Hovland OSLO-Norway's Statoil ASA (STO) said Friday it would cancel a contract for the Stena Carron drilling ship in Angola's blocks 38 and 39 following disappointing results... Full Story

Talisman, Ecopetrol Report Second Oil Find in Colombia

By Carolyn King Canada's Talisman Energy Inc. and Colombia's state-owned oil company Ecopetrol S.A. said Friday they have made a second oil discovery in Block CPO-9 in Colombia... Full Story

Lukoil Rises in New York as BCS Says Buy on Valuation

By Halia Pavliva Nov 21, 2014 OAO Lukoil (LUKOY) rose to a two-week high in New York as BCS Financial Corp. advised clients to buy the Russian oil producer’s stock, saying the “huge discount” to its biggest competitors isn’t justified. The American depositary receipts jumped 2... Full Story

CGG May Want to Reconsider Technip’s Offer: Real M&A

By Tara Lachapelle Nov 21, 2014 France’s CGG SA (CGG), the struggling oilfield-services company that rejected a bid for $1.8 billion, may want to reconsider. Technip SA (TEC), also French, this week proposed buying the seismic surveyor for 8... Full Story

Pemex’s $15 Billion Debt Plan Proves Drag on Bondholders

By Eric Martin Nov 21, 2014 With oil prices plunging to a four-year low, Petroleos Mexicanos’s plan to take on a record amount of debt to bolster production is fueling concern among its bondholders... Full Story

Weather

More Snow Threatens Buffalo Area as Flood Risk Rises

By Brian K. Sullivan and Freeman Klopott Nov 20, 2014 Lake-effect snow that killed eight people and halted travel across western New York may reach as high as 7 feet in some areas before stopping tomorrow, when temperatures will start to rise along with the risk of flooding... Full Story

This Week’s Bitter Cold Is Courtesy of the Tropics

By Brian K. Sullivan Nov 11, 2014 Record cold, banks of snow in the upper Midwest and a chill that will give people shivers from Canada to Texas this week are courtesy of Pacific Typhoon Nuri, which morphed into a super storm that set a barometric pressure record in the Bering Sea... Full Story

Personalized Hurricane Risk Gauge Targets Deadliest Stage

By Brian K. Sullivan Nov 7, 2014 When a hurricane comes ashore, there are so many dangers: tree-snapping winds, torrential downpours and even tornadoes spawned by the tempest itself. But it’s the wall of water that tropical systems push onto land, known as storm surge, that tops the list... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 11-07-2014 Our prediction for week ending 11-14-2014
611 3599
Weekly change
+40up -4 downest

Commodity Prices ($)

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