Featured Articles

Jul 01, 2015

Forecast & Analysis

Oil Price Slide Greased by Worries of New Drilling -- Market Talk

Official data showing a rise in US crude oil supplies is driving today's sharp move down in crude oil prices... Full Story

Global Oil Surplus Could Hit 2.1M B/D in 2H

[Dow Jones]--The latest hike in total OPEC's output comes from Saudi Arabia and Iraq as both countries are chasing every dollar of revenue they can before Iran comes on the scene, PVM says in a note. If this continues, the global surplus for the second half of the year will be between 1.6 and 2... Full Story

U.S. Crude Oil Stocks Unexpectedly Rise, First Time in Nine Weeks

U.S. crude stockpiles rose for the first time in nine weeks, according to data released Wednesday by the U.S. Energy Information Administration. Crude-oil stockpiles rose by 2.4 million barrels to 465.4 million barrels in the week ended June 26, the EIA said... Full Story

Analysts Forecast 1.2 Million Barrel Drop in Crude Stocks

By Nicole Friedman NEW YORK--U.S. crude-oil stocks are expected to decline in data due Wednesday from the Department of Energy, according to a survey of analysts by The Wall Street Journal. Estimates from 12 analysts surveyed showed that U.S... Full Story

Greece Challenges But Doesn't Break Market Mood -- Heard on the Street

By Richard Barley Greece's weekend call for a referendum was a surprise. So, in its own way, was market reaction Monday: it was surprisingly restrained, given the clearly increased risk of a Greek exit from the euro. Initially, market moves were sharp. The euro fell 1... Full Story

No Easy Way Forward for Markets

By Dan Strumpf The stock market has shifted to neutral, and investors expect the rest of 2015 to be a rough ride. A long list of woes tripped up buyers of U.S... Full Story

Top News Stories

U.S. Crude Oil Stocks Unexpectedly Rise, First Time in Nine Weeks

U.S. crude stockpiles rose for the first time in nine weeks, according to data released Wednesday by the U.S. Energy Information Administration. Crude-oil stockpiles rose by 2.4 million barrels to 465.4 million barrels in the week ended June 26, the EIA said... Full Story

Russia Seen Extending Oil-Sales Lead With Second China Pipeline

July 1, 2015 Russia is set to strengthen its position as the biggest oil supplier to China in the coming decade with a planned second pipeline link to Chinese refineries, according to a unit of Fitch Group Inc... Full Story

Iraq’s Oil Exports Climb to Record With Output at All-Time High

by Khalid Al Ansary July 1, 2015 Iraq’s oil exports climbed to a record in June as the drive for market share intensified with the Organization of Petroleum Exporting Countries boosting output. Overseas shipments by OPEC’s second-biggest producer averaged 3... Full Story

Libya’s Thinni Says He Hopes to Sign Peace Deal at UN Talks

by Karl Stagno Navarra July 1, 2015 Libya’s prime minister said he’s hopeful that a peace deal can be signed during talks in Morocco on Thursday to end the civil conflict in the oil-rich nation... Full Story

OPEC Ramps Up Oil Output in June

T OPEC production has increased further in June, to its highest level since September 2012, says JBC Energy. It estimates OPEC output at 31.2 million b/d, a 170,000-b/d uptick over May. With these rates, OPEC supply growth is now challenging non-OPEC supply growth, JBC says... Full Story

Remember All That Oil in Storage? Here It Comes

By Nicole Friedman Refineries around the world are using more crude oil. To get the cheapest supplies around, they don't have to look any further than their own storage tanks... Full Story

Financial

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

Nymex Crude Settles Down $2.51, or 4.2%, at $56.96/Barrel

Nymex Crude Falls to Lowest Settlement Since April... Full Story

Natural Gas Retreats on Cooler Weather Forecasts

By Timothy Puko Natural gas is sinking Wednesday morning as weather models are showing a growing consensus in favor of unseasonably cool weather on the way. Natural gas for August delivery is down 4.8 cents, or 1.7%, at $2... Full Story

Natural Gas Reverses Losses on Hotter Weather Forecast

By Timothy Puko and Nicole Friedman Natural gas futures rallied Tuesday afternoon on weather updates that showed hotter temperatures than previously expected. Prices for the front-month August contract settled up 2.7 cents, or 1%, to $2... Full Story

Nymex Crude Settles Up $1.14, or 2%, at $59.47/Barrel

Nymex Crude Settles Up $1.14, or 2%, at $59... Full Story

Natural Gas Falls as Production Holds

By Timothy Puko Natural gas futures are falling, and have already given back the prior session's gains as analysts point to near-record production as a cap on prices. Natural gas for July delivery fell 4.5 cents, or 1.6%, to $2... Full Story

Releases

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

Shell Takes Final Investment Decision For The Appomattox Deep-Water Development In Gulf Of Mexico

THE HAGUE, Netherlands, July 1, 2015 /PRNewswire/ -- Royal Dutch Shell plc (Shell) today announces the final investment decision (FID) to advance the Appomattox deep-water development in the Gulf of Mexico... Full Story

Former BP Engineer Should Get New Trial, Appeals Court Rules

NEW ORLEANS--A former BP engineer is entitled to a new trial on an obstruction of justice charge stemming from an investigation of the 2010 Gulf of Mexico oil spill, a federal appeals court ruled Tuesday. The 5th U.S... Full Story

Statoil Submits Devt Plan for Gullfaks Licence in North Sea

By Dominic Chopping Norway's Statoil (STO) has Tuesday submitted a new Plan for Development and Operations (PDO) for the Gullfaks licence in the Norwegian North Sea, involving the use of existing infrastructure to target a new development at the Shetland/Lista prospect... Full Story

Distinguished Duke Energy leader, Paul Newton, to retire in August

RALEIGH, N.C., June 30, 2015 /PRNewswire/ -- Paul Newton, Duke Energy state president - North Carolina, will retire from the company on Aug. 31, 2015... Full Story

Royal Dutch Shell: Voting Rights and Capital

LONDON, June 30, 2015 /PRNewswire/ -- In conformity with the Disclosure and Transparency Rules, we hereby notify the market of the following: Royal Dutch Shell plc's (NYSE: RBS.A)(NYSE: RDS.B) capital consists of 3,918,015,024 A shares and 2,440,410,614 B shares, each with equal voting rights... 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