Featured Articles

Nov 01, 2014

Forecast & Analysis

Shale Boom Redraws Oil Routes as Alaskans Ship to Korea

By Heesu Lee Oct 31, 2014 For signs of how the U.S. shale boom is transforming the global flow of oil, look halfway across the world at South Korea... Full Story

Oil Forecasters Diverge From Futures by Most This Year

By Grant Smith Oct 31, 2014 The disparity between oil analysts’ forecasts and price levels being locked in by traders for 2015 is at its widest this year... Full Story

Buffett Railroad’s Shale Focus Blunts Ports’ Comeback Bid

By Peter Robison and Thomas Black Oct 31, 2014 Seattle and Tacoma are being stymied in their push to regain market share from Canada as railcars destined for the harbors sit idle on tracks across the U.S. Pacific Northwest... Full Story

No Guarantee Saudis to Repeat Price Cut That Drove Oil Lower

By Debjit Chakraborty and Yuji Okada Oct 31, 2014 Asian traders are split on whether Saudi Arabia will deepen the crude price cuts that propelled oil into a bear market this month. State-run Saudi Arabian Oil Co... Full Story

Scary Halloween for Exxon, Chevron -- Ahead of the Tape

By Spencer Jakab It is fitting that oil majors Exxon Mobil Corp. and Chevron Corp. are releasing third-quarter results on Halloween. Energy investors are downright spooked by the rapid drop in crude prices in the past several weeks... Full Story

Financial Hedging Caused Recent Oil Losses: MS -- Market Talk

There's been a lot of murmuring in crude markets that large put option volume contributed to the selloff that has brought oil prices down about 25% in recent months... Full Story

Top News Stories

U.S. Oil Rig Count Declines by 13, Baker Hughes Says

By Lynn Doan and Dan Murtaugh Oct 31, 2014 Rigs targeting oil in the U.S. dropped by 13 this week after crude futures traded below $80 a barrel for the third time in a month. Rigs drilling for crude declined to 1,582, Baker Hughes Inc. (BHI) said today... Full Story

OPEC in ‘Price War’ as Iraq Says Members Fight for Market

By Kadhim Ajrash and Maher Chmaytelli Oct 31, 2014 Members of OPEC, the group that supplies 40 percent of the world’s oil, are engaged in an internal price war as they seek to preserve their share of an oversupplied market, Iraqi Oil Minister Adel Abdul Mahdi said... Full Story

U.S. Gasoline Average Below $3 for First Time Since 2010

By Lynn Doan and Dan Murtaugh Oct 31, 2014 For the first time in almost four years, U.S. drivers are paying less than $3 a gallon at the pump. U.S. retail gasoline prices are averaging less than $3 today, AAA said in a statement... Full Story

OPEC Boosts Oil Output as Prices Slide to Four-Year Low

By Mark Shenk Oct 31, 2014 OPEC countries boosted oil output to a 14-month high in October as crude futures sank into a bear market, a Bloomberg survey showed yesterday. Production by the 12-member Organization of Petroleum Exporting Countries climbed by 53,000 barrels a day to 30... Full Story

Saudi Arabia Officials Divided on How to Respond to Oil-Price Drop

By Summer Said, Benoît Faucon and Sarah Kent While international oil prices have plunged this month, Saudi Arabia's normally talkative oil minister Ali al-Naimi has been on vacation. Mr... Full Story

Case for U.S. Oil Exports Seen Strengthened by Study

By Dan Murtaugh and Lynn Doan Oct 30, 2014 The U.S. Energy Department said the nation’s gasoline prices are linked to international crude oil, a conclusion that backs those in favor of lifting 39-year-old restrictions on crude exports... Full Story

Financial

Natural Gas Gains on Cold Weather But Posts Monthly Loss

By Nicole Friedman NEW YORK--Natural gas snapped a three-week losing streak as traders looked ahead to colder weather, which is expected to boost demand for the heating fuel. Winter is the highest-demand season for natural gas. About half of U.S... Full Story

Oil Falls for Fourth Straight Month

By Nicole Friedman NEW YORK--Oil prices posted their fourth straight month of losses as concerns about high supplies, low demand and a stronger dollar sent prices tumbling. The dollar's recent strength has added to the oversupply concerns already weighing on the market... Full Story

Brent Caps Longest Run of Weekly Losses Since ’02 on Glut

By Moming Zhou Oct 31, 2014 Brent crude capped a sixth weekly loss, the longest losing streak since 2002, as OPEC boosted production to a 14-month high amid a global surplus. West Texas Intermediate posted the biggest monthly drop in more than two years. Brent fell 9... Full Story

Natural Gas Continues Four-Day Winning Streak

By Nicole Friedman NEW YORK--Natural gas rose Friday for a fourth straight day, erasing some of the contract's monthly losses, as traders expected colder weather to boost demand for the heating fuel. Winter is the highest-demand season for natural gas, which half of U.S... Full Story

Strong Dollar Sends Oil Below $80 a Barrel

By Nicole Friedman U.S. oil prices slid below the psychologically key $80 a barrel mark Friday after the Bank of Japan unexpectedly expanded its stimulus measures, boosting the dollar. The Bank of Japan announced additional stimulus measures very early Friday... Full Story

Brent Set for Longest Run of Weekly Losses Since 2002

By Moming Zhou Oct 31, 2014 Brent crude headed for a sixth weekly loss, the longest losing streak since 2002, as OPEC boosted production to a 14-month high amid a global surplus. West Texas Intermediate was on track for its biggest monthly decline in more than two years... Full Story

Releases

JPMorgan Names Speaker to Replace Fenton in Commodities

By Agnieszka de Sousa Oct 31, 2014 Scott Speaker will head JPMorgan Chase & Co. (JPM)’s global commodities research team, replacing Colin Fenton, according to an internal memo seen by Bloomberg News... Full Story

Union Workers Ready for ‘Biggest Fight’ With Oil Refiners

By Lynn Doan and Bradley Olson Oct 31, 2014 United Steelworkers leaders, representing employees at two-thirds of U.S. refineries, want their share of the U.S. shale bounty from the next three-year contract with refiners including Exxon Mobil Corp... Full Story

Exxon, Chevron Post Higher Earnings Despite Drops in Production

By Chelsey Dulaney Exxon Mobil Corp. and Chevron Corp. reported surprising profit growth on Friday, despite gloomy market conditions, boosted by their refining divisions that have lost favor with some smaller peers. Unlike Marathon Oil Corp... Full Story

Total Well Placed to Weather Oil-Price Volatility, CEO Says

By Sarah Kent LONDON--French oil major Total SA is well placed to weather the recent oil-price volatility, with new production scheduled to come on stream over the next two years set to bolster the company, its new Chief Executive Patrick Pouyanné told a London industry conference Thursday... Full Story

Royal Dutch Shell plc: Buyback of Own Shares

LONDON, October 30, 2014 /PRNewswire/ -- Royal Dutch Shell plc (NYSE: RDS.A)(NYSE: RDS.B) announces that on 30 October, 2014 it purchased for cancellation 981,700 "A" Shares at a price of 2217.35 pence per share... Full Story

Shell Profit Increases as Refining Trumps Lower Oil Prices

By Jillian Ward Oct 30, 2014 Royal Dutch Shell Plc (RDSA) said third-quarter profit rose 31 percent, beating estimates, as earnings from refining and natural gas countered the impact of lower crude prices at Europe’s biggest oil company... Full Story

Weather

Mexico Targeted Once More as Tropical Storm Vance Forms

By Brian K. Sullivan Oct 31, 2014 With just about a month left in the eastern Pacific’s hurricane season, Mexico is once again the target of a tropical system on its western coast... Full Story

Shrinking Arctic Ice May Cause Colder Winters

Heating oil and natural gas suppliers should brace for higher demands from European customers experiencing unusually cold winters in years ahead --- an unexpected side effect of declining Arctic sea ice... Full Story

Hurricane Map’s Gulf of Mexico X Isn’t as Bad as It Looks

By Brian K. Sullivan Oct 21, 2014 A potential tropical system in the Gulf of Mexico in August could raise eyebrows and send a ripple through energy markets. In October, it’s a different story. Or at least, it should be... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 10-17-2014 Our prediction for week ending 10-24-2014
3393 3475
Weekly change
+94up +82upest

Commodity Prices ($)

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