Forecast & Analysis

Scaled-Back U.S. Fracking Rule Draws Qualified Praise

By Mark Drajem & Jim Snyder - May 17, 2013 Oil and gas industry representatives offered qualified support for a U.S. proposal to govern hydraulic fracturing on public lands that establishes federal oversight while deferring to state standards in some cases... Full Story

Hess's Peace Dividend

By Liam Denning There's a nasty little corner of human nature, often nurtured in the schoolyard, that likes to see a good fight. Maybe that is why Thursday morning's news that Hess and Elliott Management had reached a modus vivendi prompted a 3% drop in the oil major's share price... Full Story

OPEC Oil Shipments to Rise 220,000 B/D in 4 Weeks to June 1

By Sarah Kent Seaborne oil shipments from the Organization of the Petroleum Exporting Countries will rise by 220,000 barrels a day in the four weeks to June 1, compared with the previous four-week period, U.K.-based tanker tracker Oil Movements said Thursday... Full Story

Officials Offer Split Views on Outlook for Bond-Buying

By Michael S. Derby PORTLAND, Oregon--Several Federal Reserve officials on Thursday agreed that the government's troubled financial situation was hurting the economy, although finding that common ground did not lead them to concur on the best way forward for monetary policy... Full Story

Ex-BP Tony Hayward: Ready to Redress Work/Life Balance?

By Phillipa Leighton-Jones It seems that Tony Hayward, the former BP chief executive, has had enough of having his life back... Full Story

Analysts Forecast 95-Bcf Rise in U.S. Natural-Gas Stockpile

By David Bird Analysts and traders expect government data scheduled for release Thursday to show a larger-than-average increase in U.S. gas inventories. The U.S... Full Story

Top News Stories

Air Strikes, Casualties in Nigeria Offensive on Islamists

KANO (AFP)--Nigeria's military on Friday attacked Boko Haram Islamist strongholds across the northeast, launching deadly air strikes on insurgent camps, the military said, while residents reported that forces had deployed in border areas to block the militants from fleeing... Full Story

Greenland Minister: Will Issue New Oil Exploration Licenses as Current Ones Are Turned In

By Clemens Bomsdorf COPENHAGEN--Greenland's new government has clarified its stance on allowing more offshore oil exploration with the small Arctic territory's new minister of industry and minerals saying that new licenses will be handed out as current licenses are turned in... Full Story

Mexico Grows at Slowest Pace in Three Years in First Quarter

Gross Domestic Product (Year-On-Year): 1Q13 4Q12 3Q12 2Q12 1Q12 2012 Forecast +1.2% +3.0% +3.7% +4.2% +4.3% Actual +0.8% +3.2% +3.2% +4.5% +4.9% +3... Full Story

Nigeria LNG Declares Force Majeure on Exports After Leak

By Sarah Kent LONDON--Nigeria LNG has declared force majeure on its exports of liquefied natural gas after a reported leak on a pipeline operated by Royal Dutch Shell PLC's Nigerian subsidiary earlier this weak cut off a substantial percentage of its supply, the company said Friday... Full Story

Oil Price-Fixing Probe Widens as Neste Helps EU Inquiry

By Edward Klump, Asjylyn Loder & Lynn Doan - May 17, 2013 The European oil price-fixing probe expanded as Neste Oil Oyj (NES1V), Finland’s only refiner, said it was asked to provide information regarding potential manipulation of global crude and biofuel markets... Full Story

Chile To Try To Further Reduce Tariffs to Ease Crude Oil Import Prices

Chile will seek to further reduce tariffs with a few crude oil-producing nations in the hopes of obtaining cheaper crude imports, its Finance Minister said. The Andean nation imports 98% of the fossil fuels it consumes and rising international fuel prices can push consumer prices higher... Full Story

Financial

Crude-Oil Futures Rally As Stock Market Powers Higher

--Oil futures rally as equity markets look higher --Crude remains under pressure by strong supply, weak demand --Gasoline prices rally By Dan Strumpf NEW YORK--Oil futures rallied for the second straight session Friday, lifted by stronger equity markets after positive U.S... Full Story

Natural Gas Drops Below $4 After Bigger-Than-Expected Inventory Build

--Natural-gas futures settle 3... Full Story

Crude-Oil Futures Settle up 86 Cents at $95.16/Barrel

--Market looks beyond high crude oil, fuel inventory --U.S... Full Story

Natural Gas Drops Below $4 After Bigger-Than-Expected Inventory Build

By Dan Strumpf NEW YORK--Natural gas futures tumbled more than 3% after a report showed U.S. gas stockpiles last week rose more than expected, underscoring sluggish demand for the fuel... Full Story

Crude Oil Futures Climb on Dollar Weakness After U.S. Data

By David Bird NEW YORK--Crude oil futures were higher Thursday morning, propped up weakness in the dollar after disappointing U.S. economic data. Light, sweet crude oil for June delivery on the New York Mercantile Exchange shed earlier losses and was trading 45 cents higher at $94... Full Story

WTI Crude Recovers After Falling on Signs of Weaker Fuel Demand

By Nayla Razzouk, Paul Gordon & Winnie Zhu - May 16, 2013 West Texas Intermediate gained after falling for the fifth time in six days amid signs of economic weakness in the U.S. and Europe. Futures recovered following a decline of as much as 1.1 percent in New York... Full Story

Releases

Total CEO: Unlikely Probed Oil Firms Involved in Alleged Price Rigging

By Geraldine Amiel PARIS--The head of French oil company Total SA (TOT) said Friday he believed the companies being investigated as part of a European Commission probe into alleged oil-price manipulation weren't involved in such activities... Full Story

Colonial Pipeline: Gasoline Mainline Operations Have Returned to Normal

By Rose Marton-Vitale Colonial Pipeline Co. on Friday said normal operations resumed shortly before midnight on Thursday on its Line 1 gasoline mainline after successfully completing a line repair near Hebert, Texas... Full Story

Exxon, Union Workers Reach Deal at Baytown Refinery, Avoiding Strike

By Ben Lefebvre Exxon Mobil Corp. (XOM) and union workers have reached an agreement that will prevent a strike at the second-largest U.S. refinery, the union said Thursday... Full Story

Pemex Discovers Crude at Maximino Field -Bloomberg

Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, discovered crude at the Maximino field in the Gulf of Mexico, Bloomberg News reported Thursday... Full Story

Apache Shareholders Don't Approve Executive Compensation

By Alison Sider Apache Corp. (APA) shareholders didn't approve the energy company's executive compensation plan for 2012 at its annual meeting Thursday, making their displeasure with the company's performance known. Fewer than half of the voting shareholders, 49... Full Story

Pemex Makes Third Ultra-Deep Find at Mexico Gulf Maximino Field

By Peter Millard & Carlos Manuel Rodriguez - May 16, 2013 Petroleos Mexicanos, the world’s fourth-largest oil producer, made its third ultra-deepwater discovery on the Mexican side of the Perdido basin in the Gulf of Mexico... Full Story

Weather

NOAA Sees Above-Normal Summer Temperatures for Much of U.S.

NEW YORK--Warmer-than-normal temperatures are expected across much of the U.S. this summer, government forecasters said Thursday in a forecast for June through August... Full Story

NOAA Doesn't Expect El Nino, La Nina Conditions in Coming Months

By David Bird NEW YORK--U.S. government forecasters said Thursday they don't expect El Nino or La Nina weather conditions to develop through late summer in the Northern Hemisphere... Full Story

May Day snow storm hits Colo., Wyo., Midwest

DENVER (AP) — People in parts of Colorado and Wyoming pulled puffy jackets, hats and umbrellas out of the closet again Wednesday for another round of wet spring snow... Full Story