Featured Articles

Mar 01, 2015

Forecast & Analysis

Supply-Side Support to Oil Prices Could Start to Wane -- Market Talk

Even as oil prices are on track to record their biggest monthly gain since 2009 this month, the recent supply-side support to prices could wane in the weeks to come, JBC Energy says... Full Story

Oil May Fall Again Says Analyst Who Predicted ’09 Rebound

by Angelina Rascouet (Bloomberg) -- Oil prices could drop again later this year as a supply glut persists, according to Jason Kenney, a Banco Santander SA analyst who accurately predicted a rebound in prices after the 2008 slump. The current oil shock caused by the boom in U.S... Full Story

Loeb Sees Disappointment for Funds Seeking Energy Distress

by Sonali BasakJing Cao (Bloomberg) -- Hedge fund manager Dan Loeb warned investors against expecting unrealistic returns if they’re counting on investing in energy companies on the cheap... Full Story

IEA Echoes Saudi View on Oil-Demand Boost Balancing Market

by Grant Smith (Bloomberg) -- The oil market will rebalance in the next several months as a price collapse boosts consumption and curbs supplies, the International Energy Agency said, a day after Saudi Arabia’s oil minister told reporters demand is rising... Full Story

Oil Slump Makes Poor Pacific Nation Winner in Global Gas Race

by James Paton (Bloomberg) -- While tumbling oil prices are threatening the viability of energy projects around the world, a small Pacific nation is bucking the trend... Full Story

Fewer Rigs Could See Crude Drop in 2H By 250,000 bpd -- Market Talk

As the number of oil drilling rigs in the U.S. continues to fall, JBC Energy estimates that the drop should result in crude output falling by 200,000 to 250,000 barrels a day in the second half of this year... Full Story

Top News Stories

Saudis’ Oil Price War Is Paying Off

by Grant Smith and Anthony Dipaola (Bloomberg) -- Three months after Saudi Arabia made clear it was going to let oil prices keep tumbling, the strategy is showing signs of working. U.S. drillers are idling rigs at a record pace, gutting investment plans and laying off thousands of workers... Full Story

U.S. Oil Rigs Get Hammered for the 12th Week

by Tom Randall U.S. oil rigs declined for the 12th straight week despite still-rising levels of production. Drillers idled 33 oil rigs (excluding gas rigs), dropping the number to 986, Baker Hughes reported on Friday. The rig count is down 39 percent since October, an unprecedented retreat... Full Story

Macro Horizons: As Europe Stabilizes, Focus of Worry Turns to China

By Michael J. Casey and Alen Mattich Macro Horizons covers the main macroeconomic and policy news events affecting foreign-exchange, fixed income and equity markets around the world, as selected by editors in New York, London and Hong Kong... Full Story

Russian Sanctions Seen Entrenched as EU, U.S. Keep Pressure

by Andre Fonseca TartarOtt Ummelas (Bloomberg) -- The European Union will probably overcome internal divisions and extend economic sanctions against Russia that expire in July even as the conflict in eastern Ukraine shows signs of abating, according to a survey of economists... Full Story

Islamic State’s Oil Revenue Cut by Air Raids, Falling Oil

by Gregory Viscusi (Bloomberg) -- Coalition air strikes and falling oil prices have cut the Islamic State’s revenue from oil fields, and the militant group’s financial resources will further decline if it can’t capture new territory, according to a study... Full Story

Who’s to Blame for the Exploding Oil Trains?

by Jim SnyderMatthew Philips A week after a CSX train hauling crude oil derailed and exploded 30 miles southeast of Charleston, W.Va., on Feb. 16, its mangled, charred tank cars were still being hauled from the crash site. Of the 27 cars that derailed, 19 had been engulfed in flames... Full Story

Financial

Natural Gas Bounces After Prior-Day Selloff

By Christian Berthelsen Natural-gas prices bounced off a two-week low on Friday as updated weather forecasts called for a colder-than-expected blast over much of the middle of the U.S. next week. The front-month April contract for natural gas rose 3.7 cents or 1.4% to settle at $2... Full Story

U.S. Oil Prices Soar

By Christian Berthelsen and Georgi Kantchev Oil futures soared Friday as surging markets for refined gasoline and diesel helped drive crude higher, with traders looking past a fall in U.S. drilling activity that was more modest than expected. The benchmark U.S. oil contract gained $1.59 or 3... Full Story

Natural Gas Bounces After Prior-Day Selloff

By Christian Berthelsen Natural-gas prices bounced off a two-week low on Friday as updated weather forecasts called for a colder-than-expected blast over much of the middle of the U.S. next week. The front-month April contract for natural gas was up 3.2 cents, or 1.2%, at $2... Full Story

Oil Prices Are Still Far From Stable

By Eric Yep SINGAPORE--The plunge in global oil prices since last summer has led to talk of a new normal for the market. But far from normalizing, oil prices have rarely been more volatile. It isn't so long since oil markets were rather dull... Full Story

Natural Gas Slumps on Smaller-Than-Expected Storage Draw

By Timothy Puko and Nicole Friedman Natural-gas prices sank to a two-week low Thursday after data showed weekly inventories fell far less than expected last week. U.S. natural-gas stockpiles fell by 219 billion cubic feet in the week ended Feb. 20, the U.S... Full Story

Nymex Crude Settles Down $2.82, or 5.5%, at $48.17/Barrel

Nymex Crude Settlement Lowest Since Jan... Full Story

Releases

Royal Dutch Shell plc: Voting Rights and Capital

LONDON, February 27, 2015 /PRNewswire/ -- In conformity with the Disclosure and Transparency Rules, we hereby notify the market of the following: Royal Dutch Shell plc's (NYSE:RDS.A)(NYSE:RDS... Full Story

Icahn Investments Hit by Energy, Posts First Annual Loss Since 2008

By Chelsey Dulaney Carl Icahn's investment portfolio posted its first annual loss since 2008 last year amid tumbling oil prices, though the holding company said Apple Inc.'s recent performance helped soften the blow... Full Story

Risky Bets Could Sink Hercules Offshore -- Market Talk

Hercules Offshore (HERO) shares keep falling, now down 29%. "There is a decent chance of insolvency based on exceedingly imprudent bets the company made in levering-up the balance sheet in the process of acquiring uncontracted assets," says Bill Herbert of Simmons... Full Story

Valero Energy Partners LP Announces Acquisition of Certain Valero Terminaling Businesses for $671 Million

SAN ANTONIO, Feb. 27, 2015 /PRNewswire/ -- Valero Energy Partners LP (NYSE: VLP, the Partnership) today announced that the board of directors of its general partner has approved the Partnership's acquisition of certain businesses from subsidiaries of Valero Energy Corporation (NYSE: VLO, Valero)... Full Story

Petronas Units End Down Before Parent Posts First-Ever Quarterly Loss--Market Talk

[Dow Jones] Petronas Chemicals Group Bhd. (5183.KU) and Petronas Gas Ltd. (6033.KU), two of the three listed units of oil-and-gas company Petroliam Nasional Bhd., or Petronas, closed lower in Kuala Lumpur ahead of the parent's posting of its first-ever quarterly loss... Full Story

Petronas Turns to $2.7 Billion Fourth-Quarter Loss on Oil Slump

by Pooi Koon Chong (Bloomberg) -- Petroliam Nasional Bhd., the Malaysian state oil company preparing for a leadership transition in April, reported a loss in the fourth quarter following crude’s plunge. The loss was 9.9 billion ringgit ($2.7 billion) in the three months through Dec... Full Story

Weather

Winter keeping its icy grip around the Eastern US

The bitter cold that has gripped the Eastern U.S. is showing no sign of letting up before the weekend as records for low temperatures were broken Friday... Full Story

What's causing freezing temperatures across the U.S.?

WASHINGTON -- With temperatures in the teens in Washington D.C., the C&O Canal is frozen solid. So are tens of millions of people from Maine to the Carolinas... Full Story

The land of ice and snow: US blanketed by storm, cold temps

DURHAM, N.C. (AP) — A powerful winter storm dumped snow from Nashville to Nantucket, and artic-like temperatures gripped much of the U.S. and hundreds of thousands of people were without power in the South... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 2-13-2015 Our prediction for week ending 2-20-2015
2157 1920
Weekly change
-111 down -237 downest

Commodity Prices ($)

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