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EIA NATURAL GAS WEEKLY
STORAGE LEVELS:
(Total Lower 48)
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EIA report
for week
ending
08/15/08
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Our next prediction
coming Tuesday,
08/26/08
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+88 Bcf
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EIA FORECASTING TOOL:
Explore past and future
EIA natural gas values!
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Natural gas, crude oil, and weather market news, prices, analysis, and forecasts for commodities traders, risk managers, and hedgers with current NYMEX, CME, EIA, and energy market data, charts, commentaries, newsletters, and more.
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Featured Articles for August 21, 2008
Forecast & Analysis - Top Stories - Financial - Releases - Weather Stories
Forecast & Analysis
- Weekly Natural Gas Storage Data for Week Ending 8/15/08
Working gas in storage was 2,655 Bcf as of Friday, August 15, 2008, according to EIA estimates. This represents a net increase of 88 Bcf from the previous week. Full Story
- Rising Oil Prices/Supplies Can Be Explained
NEW YORK (Dow Jones)--Wednesday, active September petroleum futures posted modest gains on the New York Mercantile Exchange, as did the contract for October, which becomes the active month at the start of trading today. Full Story
- Crude Oil Speculators Hold 81% of Nymex Contracts, Post Says
Aug. 21 (Bloomberg) -- Crude oil speculators account for about 81 percent of all contracts traded on the New York Mercantile Exchange, the Washington Post said, citing Commodity Futures Trading Commission data. Full Story
- DJ US NATURAL GAS INVENTORY SURVEY: Injection Of 82 Bcf Seen
HOUSTON (Dow Jones)--Analysts and traders expect government data scheduled for release Thursday to show a larger-than-average build in U.S. natural gas inventories as generally mild weather in the major gas-consuming regions curbed natural gas demand for cooling.
Full Story
- Bottoming Or Not, Low Crude Won't Help Market
NEW YORK (Dow Jones)--The price of crude oil has dropped an astounding 23% since its all-time peak in mid-July, reflecting expectations of lower global demand, a stronger dollar and worries of an ever-weakening world economy.
Full Story
Top Stories
- Big oil bids $487 million to drill offshore
WASHINGTON (AP) -- Energy companies placed $487.3 million in winning bids for the right to drill in the western Gulf of Mexico, knowing they may get a chance later to explore in other areas that have been off-limits for decades. Full Story
- Oil Storage Tank Fire Reduces Libya's Production
Aug. 20 (Bloomberg) -- A fire at a crude storage tank in Ras Lanuf, the site of Libya's largest oil refinery and a petroleum port, may force the North African nation to reduce output by as much as 100,000 barrels a day.
Full Story
- Georgian Ports Run Out of Oil as Troops Block Rails
Aug. 20 (Bloomberg) -- Georgian Black Sea ports are running out of crude and oil-product supplies as Russian troops block railways near the city of Khashuri, a shipping agent said. Full Story
- OPEC Oil Production Cut `Is an Option,' Libya's Ghanem Says
Aug. 20 (Bloomberg) -- OPEC, the supplier of more than 40 percent of the world's oil, may decide to cut production at a meeting on Sept. 9 because the market is oversupplied, Libya's top oil official said. Full Story
- McCain campaigns for off-shore drilling on Gulf rig
ABOARD THE CHEVRON GENESIS (Reuters) - Republican John McCain took his campaign high above the waters of the Gulf of Mexico on Tuesday, visiting an offshore oil and gas rig and predicting many more like it along the U.S. coasts if he is elected president. Full Story
Financial
Releases
- Cnooc Profit Growth to Surpass Exxon, Shell on Output
Aug. 21 (Bloomberg) -- Cnooc Ltd.'s first-half profit growth may be double that of Exxon Mobil Corp. and Royal Dutch Shell Plc after China's third-largest oil company increased its crude reserves and output amid record prices. Full Story
- Chevron Completes Agreements on Offshore Canada Field
Aug. 20 (Bloomberg) -- Chevron Corp., the second-largest U.S. oil company, signed agreements to develop an offshore Canadian oil field that was stalled more than two years by an ownership dispute with the provincial government. Full Story
- BP-Led Oil Pipeline to Resume Shipments Next Week
Aug. 20 (Bloomberg) -- The BP Plc-led Baku-Tbilisi-Ceyhan pipeline, which transports oil from Azerbaijan through Georgia to Turkey's Mediterranean coast, will resume tanker loadings next week following fire damage earlier this month. Full Story
- XTO Energy Declares Quarterly Dividend
FORT WORTH, Texas, Aug. 19 /PRNewswire-FirstCall/ -- The Board of Directors of XTO Energy Inc. (NYSE: XTO) today declared a quarterly cash dividend of 12 cents per share on the Company's outstanding Common Stock payable October 15, 2008 to stockholders of record at the close of business on September 30, 2008. Full Story
- Chesapeake Energy Prospers With Land Buys
NEW YORK (Dow Jones)--Amid a swarm of natural gas producers rushing to acquire acreage in hard-to-drill rock formations throughout the U.S., Chesapeake Energy Corp. (CHK) has stood apart as one of the most voracious land buyers. Full Story
- Chevron Revives 700 Million-Barrel Hebron Project
Aug. 19 (Bloomberg) -- Chevron Corp. resurrected plans to tap a 700 million-barrel oil field off Canada's east coast more than two years after the project collapsed amid a dispute with the provincial government over ownership stakes. Full Story
- Och-Ziff Funds Greenhouse Gas Credits to Bury Carbon
Aug. 19 (Bloomberg) -- Och-Ziff Capital Management Group LLC will invest as much as $500 million in projects that bury greenhouse gases blamed for global warming and create tradable emissions credits. Full Story
- Shell says no progress fixing Nigeria oil pipeline
Repairs to a damaged oil pipeline in Nigeria have been struggling to make significant progress, Royal Dutch Shell said weekend. Full Story
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