Featured Articles

Aug 03, 2015

Forecast & Analysis

Oil's Travails Are Not Equities' Only Problem

By Paul Vigna The oil pits are getting messy again, with WTI crude down another 2%, trading around $46/barrel, and getting very close to the March low of $43.46. It's a sign that the energy selloff isn't really over... Full Story

Vast Reduction in Shale Output Could be Oil's Saving -- Market Talk

A drop in oil well drilling and investment in the U.S. should have an impact on shale oil production by the first quarter of next year, bringing non-OPEC output down by 420,000 barrels a day, the first decline since 2008, says Bank of America Merrill Lynch Research... Full Story

What Does the Rise of the U.S. Rig Count Mean For Supply? -- Market Talk

[Dow Jones]--Last week, the number of oil drilling rigs in the U.S.--a rough proxy for the activity in the industry--rose for the second consecutive week and third time in the last four weeks. For some, like the analysts at Deutsche Bank, this means that "U.S... Full Story

U.S. Oil Seen Trading Above Global Prices Next Year by BofA

by Grant Smith August 3, 2015 U.S. crude may temporarily rise above global benchmark Brent next year as Middle East output expands while the nation’s supply boom fades, according to Bank of America Corp... Full Story

Why ExxonMobil is Getting Hammered..and Why It's Time to Buy -- Barron's Blog

By Ben Levisohn Shares of ExxonMobil ( XOM) have dropped more than 4% after releasing its earnings today. Citigroup's Alastair Syme and Fernando Valle explain why: ExxonMobil 2Q15 adjusted EPS of $0.88/share was well below consensus and Citi estimates... Full Story

Aubrey McClendon's New Empire Fights For Survival As Oil Slump Deepens

By Soma Biswas Aubrey McClendon’s second chance at building an oil and gas empire is showing cracks. The billionaire founder and former CEO of Chesapeake Energy launched a half dozen new energy companies from scratch immediately after resigning from Chesapeake early 2013... Full Story

Top News Stories

Economy Takes Center Stage as Harper Starts Canada Election

by Josh Wingrove and Theophilos Argitis August 3, 2015 Prime Minister Stephen Harper began Canada’s longest election campaign in more than a century by touting his economic stewardship as his main rivals jockeyed to be seen as the best agent of change... Full Story

Obama Charm Offensive Targets Venezuela After Iranians, Cubans

by Nicole Gaouette August 3, 2015 The Obama administration’s charm offensive with unfriendly states has rolled through Myanmar, Iran and Cuba. Next stop: Venezuela. Just months after the administration declared Venezuela a threat to U.S... Full Story

Commodity Producers Tumble Worldwide as Oil, Metals Resume Slump

by Jesse Riseborough and Benjamin Stupples August 3, 2015 Mining companies and oil producers tumbled worldwide as a renewed slide in commodity prices saw oil drop to a six-month low and copper neared a bear market... Full Story

Oil CEOs’ Grim Outlook Rubs Off on Speculators Fleeing Market

By Dan Murtaugh August 2, 2015 The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. Hedge funds reduced bullish bets to the lowest level in five years as oil capped the worst month since the financial crisis... Full Story

Obama to require steeper emissions cuts from US power plants

NEW YORK (AP) — President Barack Obama will impose even steeper cuts on greenhouse gas emissions from U.S. power plants than previously expected, senior administration officials said Sunday, in what the president called the most significant step the U.S. has ever taken to fight global warming... Full Story

US Oil-Rig Activity Rises Again -- Market Talk

The number of active US oil rigs has risen for a 2nd-straight week, according to Baker Hughes' closely watched data. Operating US oil rigs rose 5 to 664, which remains far below October's highwater mark of 1,609. Active natural-gas rigs fell 7 the past week to 209. (dan.molinski@wsj... Full Story

Financial

Oil Prices Fall to Fresh Lows on Supply Concerns

By Georgi Kantchev And Timothy Puko Oil prices slid to fresh multi-month lows on Monday, with bearish supply-and-demand data contributing to the market's gloomy mood... Full Story

Natural Gas Prices Rise on Warming Weather, Falling Production

By Timothy Puko Natural gas prices bounced back from a three-week low Monday as warming weather and falling supply show signs the market could be slowly balancing. Natural-gas futures for August delivery recently gained 1.9 cents, or 0.7%, to $2... Full Story

Oil Prices Fall to Fresh Lows on Supply Concerns

By Georgi Kantchev LONDON--Oil prices kicked off the month deep in the red, sliding to fresh multi-month lows on Monday, with bearish supply and demand data contributing to the market's gloomy mood... Full Story

Natural Gas Prices Slide to 3-Week Low on Milder Weather Forecasts

By Timothy Puko Natural gas prices sank to a three-week low on Friday, as cooler weather forecasts convinced traders that summer demand won't be enough to absorb near-record production. The front-month September contract lost 5.2 cents, or 1.9%, in price to $2... Full Story

Oil Prices Fall to Multi-Month Lows as U.S. Rig Count Rises

By Timothy Puko Oil prices fell to new multi-month lows Friday as data showed U.S. producers put more drilling rigs to work despite a lingering world-wide glut. Many analysts and investors have warned for months that crude production could keep rising even amid massive cutbacks from U.S... Full Story

Oil Prices Pare Losses, Mimicking Dollar's Move

By Timothy Puko And Biman Mukherji Oil prices are slumping to multi-month lows again Friday, but have pared losses as they mimic a topsy-turvy trading for the dollar. Light, sweet crude for September delivery recently fell 1.5%, $47.79 a barrel on the New York Mercantile Exchange... Full Story

Releases

Devon Energy Completes Leadership Transition as Board of Directors Elects Dave Hager New President and CEO, Su

Devon Energy Completes Leadership Transition as Board of Directors Elects Dave Hager New President and CEO, Succeeding Retiring John Richels OKLAHOMA CITY--(BUSINESS WIRE)--August 03, 2015-- Devon Energy Corp... Full Story

Marathon Petroleum's Kentucky Refinery Halts Processing After Power Outage

By Dan Molinski Marathon Petroleum Corp. (MPC) said Monday its refinery in Catlettsburg, Ky., suffered a power outage that has forced a shutdown of all processing units. "At 3:24 p.m... Full Story

Exxon Not Seen Cutting as Urgently as Others -- Market Talk

Morgan Stanley says Exxon (XOM) isn't cutting costs with as much urgency as Chevron (CVX), Shell (RDSA) and smaller US producers like ConocoPhillips (COP)... Full Story

Shell to Strengthen Russian Hand Through Gazprom Asset Swap

by Rakteem Katakey August 3, 2015 Royal Dutch Shell Plc will swap a stake in one of its international energy assets for part of Gazprom PJSC’s Sakhalin-3 project as Europe’s biggest oil company extends ties with Russia... Full Story

TransCanada Alberta Pipelines Set Back by Oil Rout, Keystone Lag

by Rebecca Penty July 31, 2015 TransCanada Corp. is slowing work on two pipelines in Alberta because of reduced demand tied to lower crude prices and setbacks to its major oil export projects... Full Story

Imperial Oil Profit Drops 90% on Tax Charge, Low Crude Prices

By Judy McKinnon Imperial Oil Ltd. on Friday posted a 90% drop in its second-quarter profit, hurt by a large charge for a tax-rate increase in Alberta, slumping global oil prices and in the absence of a year-earlier gain on the sale of an asset... Full Story

Weather

Worldwide strengthening El Nino giveth and taketh away

WASHINGTON (AP) — In California, they're counting on it to end an historic drought; in Peru, they've already declared a pre-emptive emergency to prepare for devastating flooding. It's both an economic stimulus and a recession-maker... Full Story

MDA Weather Services Predicts Strong El Niño to Last into 2016

Gaithersburg, MD – (July 21, 2015) The tropical Pacific began its warming trend nearly a year ago, with warming trends accelerating over the past several months... Full Story

Monster El Niño Makes Record-Hot Year Look Inevitable

Bloomberg By Tom Randall This is a new kind of heat. In more than 135 years of global temperature data, four of the five hottest months on record all happened in 2015: February, March, May, and now June... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 7-17-2015 Our prediction for week ending 7-24-2015
2828 2778
Weekly change
+61up +50upest

Commodity Prices ($)

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