Featured Articles

Feb 12, 2016

Forecast & Analysis

Bank of Russia Lowers 2016 Oil Price Forecasts to $25 a Barrel

By Andrey Ostroukh MOSCOW--The Bank of Russia has lowered its oil price forecasts, preparing for an average oil price of $25 a barrel this year, the central bank's first deputy chairman said Friday... Full Story

Oil Refining Margins Under Pressure -- Market Talk

Gasoline inventories in the U.S. are at an all-time high, pressuring refining margins and making it unprofitable for some refineries to process crude into the fuel, says Jefferies... Full Story

Oil Is the Cheap Date From Hell

By Peter Coy and Matthew Philips Bloomberg Businessweek February 11, 2016 Itís scary out there. The rout in the stock market that began around Jan. 1 took a turn for the worse early this month. By Feb. 10 the Standard & Poorís 500-stock index was down 9 percent for the year... Full Story

EOG CEO Doesn't See US as Swing Oil Producer -- Market Talk

There's been much talk about the US filling OPEC's shoes as the swing oil producer, quickly adjusting production to meet demand. But EOG Resources CEO Bill Thomas, says that's not happening. "At this moment, there is no effective swing producer," Thomas says... Full Story

Analysts See 84 Billion-Cubic Feet Fall in U.S. Natural-Gas Inventories

By Timothy Puko Analysts expect government data scheduled for release Thursday to show natural-gas inventories last week fell half as much as they usually do at this time of year. The U.S... Full Story

It'll Take More Than an Oil Rally to Restart Shale Boom

By David Wethe February 10, 2016 Explorers in U.S. oil fields stung by the quick rise and fall in the market last year are expected to move cautiously when crude prices begin to climb again. Bill Thomas, chief executive at EOG Resources Inc... Full Story

Top News Stories

Canada Keeps Pumping, at $14 A Barrel -- Market Talk

If you think US oil producers must have blinders on to keep pumping crude full-tilt as prices plunge, Canada's even worse. WTI's recent $26/bbl is lofty vs benchmark Western Canadian Select blend in Alberta that's about $14/bbl, notes RBN Energy... Full Story

U.S. Stocks Follow Europe Higher as Commodities, Banks Rally

By Riva Gold in London and Corrie Driebusch in New York A rally in recently battered commodities and banking shares lifted U.S. and European stocks on Friday. The Dow Jones Industrial Average gained 175 points, or 1.1%, to 15835. The S&P 500 rose 1.1% and the Nasdaq Composite rose 0.6%... Full Story

U.S. Stocks Extend Gains as Commodities, Banks Rally

By Riva Gold in London and Corrie Driebusch in New York A rally in recently battered commodities and banking shares lifted U.S. and European stocks on Friday. The Dow Jones Industrial Average gained 215 points, or 1.4%, to 15873. The S&P 500 rose 1.4% and the Nasdaq Composite rose 1.1%... Full Story

Gas Falls Under $1 at Two Stations -- Market Talk

A Phillips 66 station in Missouri just dropped its gasoline price to 99 cents a gallon, making it the second sub-$1 station, GasBuddy.com says. The first was a family-run station called Nusser in Jetmore, Kansas that dropped its prices Tuesday night... Full Story

South Sudan President Reappoints Rebel Leader as His Deputy

By Okech Francis and William Davison February 12, 2016 South Sudanese President Salva Kiir reappointed rebel leader Riek Machar as his deputy, a key step in a deal to end a two-year civil war thatís killed tens of thousands of people in the oil-producing nation... Full Story

Massive gas leak near Los Angeles plugged after 16 weeks

LOS ANGELES (AP) ó A blowout at a natural gas well that leaked uncontrollably for 16 weeks and drove thousands of residents from their Los Angeles homes was plugged Thursday, a utility said... Full Story

Financial

Oil Prices Soar From 13-Year Low on Hopes of Production Cuts

By Georgi Kantchev and Timothy Puko Oil prices rallied on Friday, rebounding from a 13-year low the previous day, on speculation of production cuts among some of the world's biggest suppliers. Light, sweet crude for March delivery recently gained $3.10, or 11.8%, to $29... Full Story

Natural Gas Sinks on Weather Outlook

By Timothy Puko Natural-gas prices fell Friday morning toward a seven-week low as warm weather forecasts for late February reinforce concerns about weak demand and bulging stockpiles. Futures for March delivery recently fell 2.7 cents, or 1.4%, to $1... Full Story

Oil Prices Rally on Hopes of Production Cuts

By Georgi Kantchev and Timothy Puko Oil prices rallied on Friday, rebounding from a 13-year low the previous day, on speculation of production cuts among some of the world's biggest suppliers. Light, sweet crude for March delivery recently gained $1.47, or 5.6%, to $27... Full Story

Oil Prices Rally on Hopes of Production Cuts

By Georgi Kantchev and Biman Mukherji LONDON--Oil prices rallied on Friday, rebounding from a 13-year low the previous day, on speculation of production cuts among some of the world's biggest suppliers. Brent crude, the global oil benchmark, rose 4.6% to $31... Full Story

Natural Gas Falls as Weather Forecasts Warm

By Timothy Puko Natural gas prices continued their retreat toward the $2 mark Wednesday as warming weather forecasts for late February suggest winter-heating demand won't be enough to resolve a potentially historic glut. Futures for March delivery settled down 5.2 cents, or 2... Full Story

U.S. Crude Supplies Unexpectedly Decline

By Dan Molinski U.S. crude stockpiles unexpectedly declined in the week ended Feb. 5, while gasoline supplies increased, according to data released Wednesday by the U.S. Energy Information Administration... Full Story

Releases

Transocean Gets Lift From Rig-Fleet Update -- Market Talk

Transocean's (RIG) rig-fleet update helps the offshore drilling contractor's stock rebound toward the top of the S&P 500 has gotten what Raymond James calls "short-term incremental work for a number of rigs...Critically, management has aggressively and successfully pursued work... Full Story

Investors Starting to Like Shale Slowdown -- Market Talk

Investors hoping for an oil rebound saw a really positive sign yesterday. Pioneer Natural Resources, a company that specializes in drilling in West Texas, became one of the last shale companies to slow down in the face of $30-a-barrel crude. And shareholders rewarded them for it... Full Story

OMV Selling Turkish Petrol Ofisi to Weather Low Oil Prices

By Alexander Weber February 12, 2016 Austriaís OMV AG is selling its Turkish Petrol Ofisi unit as central Europeís biggest energy company raises cash to prepare for an extended period of low oil prices... Full Story

Total Hammers Down North Sea Costs -- Market Talk

French oil major Total has implemented over 100 initiatives in its North Sea oil operations in order to hammer down costs by 20%, according to Elisabeth Proust, the managing director of Total's U.K. operations. Addressing delegates at International Petroleum Week in London, Ms... Full Story

Total Targets $20 Breakeven Price at Refineries -- Market Talk

French oil major Total will aim for a $20 a ton breakeven price at its refineries, according to its chief executive Patrick Pouyanne... Full Story

Total Expects Oil-Industry Downgrades as Dividends Maintained

By Francois De Beaupuy February 11, 2016 Total SA became the latest major energy company to keep investor payouts, accepting that the industry risks credit-rating downgrades by maintaining dividends amid the worst oil crash in 30 years... Full Story

Weather

La Nina expected in next months for the first time since 2012

NEW YORK (Reuters) - Even as the El Nino weather phenomenon continues to impact global temperatures and crops, its counterpart La Nina is increasingly expected to emerge in the coming months for the first time in four years... Full Story

Arctic Outbreak to Set Records for Valentine's Day Weekend

A major arctic outbreak could bring subzero temperatures to 65 million Americans this Valentine's Day weekend. Twenty states in the Midwest and Northeast are bracing for record cold and dangerous, possibly life-threatening wind chills... Full Story

Phenomenal Nor'easter Eyes New England To Begin Second Week Of February

A stunning noríeaster swirling off the coast of the Carolinas will approach New England during the day on Monday, spreading heavy snow and strong winds across communities from Long Island to Maine... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 2-05-2016 Our prediction for week ending 2-05-2016
2864 2847
Weekly change
-70 down -87 downest

Commodity Prices ($)

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