Featured Articles

Dec 22, 2014

Forecast & Analysis

Falling Oil Prices Could Affect Supply, Pemex CEO Says

By Santiago Pérez And David Luhnow MEXICO CITY--State oil company Petróleos Mexicanos, buffeted by the recent drop in oil prices, plans to offer international oil companies a greater share of projects in Mexico than initially envisioned and speed up joint ventures with private firms, CEO Emilio... Full Story

U.S.-Cuba Deal Shows Venezuelan Oil Giveaways Running Out

By Pietro D. Pitts and Aleem Khan Dec 19, 2014 While Pope Francis is applauded for helping broker this week’s U.S.-Cuba accord, a key motive for Cuba is Venezuela’s diminishing oil gifts to its biggest ally... Full Story

Icahn: Oil Will Go Lower, But Create Opportunities -- Market Talk

Carl Icahn thinks the bottom hasn't been hit in oil, but the opportunities are there. The activist investor is taking a bath on Chesapeake (CHK), Transocean (RIG) and Talisman (TLM). The plunge in oil prices has rocked those stocks and already sent his Icahn Enterprises to a third-quarter loss... Full Story

20 Global Stocks Most Exposed To Russia Risk -- Barron's Blog

By Dimitra DeFotis Russia is only 0.4% of the MSCI's global benchmark index, but the country's predicted recession in 2015 could have serious implications for Russia-exposed companies... Full Story

By Luck, LNG Global Glut Has Led to Liquid Spot Market -- Market Talk

[Dow Jones] The global oversupply of liquefied natural gas may help create a liquid market, says Chubu Electric Power C(9502.TO) president Akihisa Mizuno. Until recently, almost all LNG was traded under 15-20 year contracts... Full Story

Oil Crash Exposes New Risks for U.S. Shale Drillers

By Asjylyn Loder Dec 19, 2014 Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash. At least six companies, including Pioneer Natural Resources Co. (PXD) and Noble Energy Inc... Full Story

Top News Stories

U.S. Oil Rigs Drop With Crude Prices, Baker Hughes Says

By Lynn Doan and Jessica Summers Dec 19, 2014 11:15 AM MT 104 Comments Email Print Facebook Twitter Google+ LinkedIn Save Photographer: Brent Lewin/Bloomberg Employees torque a pipe at a wedge well at Christina Lake, a situ oil production..... Full Story

Propane, Butane Fall in Oil's Wake, Creating Draw for Traders

By Tim Puko Sinking oil prices are taking propane, butane and other products used in the chemicals industry and home heating along with them. The fuels, called natural-gas liquids, are a byproduct of oil and gas drilling and are used to heat homes, fuel grills and manufacture plastics... Full Story

Geneva’s Army of Oil Traders Embraces Profits a Crash Brings

By Andy Hoffman Dec 19, 2014 Crude oil’s worst slump since the financial crisis means profits for Geneva’s army of traders. After years of steady prices, the crash has brought back the volatility on which traders thrive... Full Story

Electric Utilities Brace for New EPA Rules

By Cassandra Sweet Electric utilities are bracing for the first federal rules on how they handle the millions of tons of waste ash produced by coal-fired power plants. The regulations, due Friday, are aimed at coal ash stored as a slurry in about 700 earthen pits around the country... Full Story

Air Travelers Aren't Getting a Break From Lower Oil Prices

By Jonathan House Are you hoping falling oil prices will make it cheaper to fly? Well, keep hoping. International oil prices have fallen more than 40% since mid-June as global supplies have piled up amid a production boom and weakening demand overseas. Yet U.S... Full Story

Nigeria's Central Bank Restricts Currency Trading

By Josie Cox in London and Gbenga Akingbule in Abuja, Nigeria Nigeria's Central Bank has unleashed new foreign exchange controls to stop its currency from falling beyond a record low, as tumbling crude prices help spur a wave of strikes crippling Africa's top economy... Full Story

Financial

Natural-Gas Futures Fall Into Bear Market

By Christian Berthelsen Natural-gas futures slid to their lowest prices this year and entered a bear market Friday, as investors come to grips with surging production that is beginning to push the U.S. toward potential oversupply. Natural gas for January delivery ended down 17.8 cents, or 4... Full Story

Oil Surges From Five-Year Low as OPEC Comments Add Volatility

By Mark Shenk Dec 19, 2014 Crude prices surged from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister yesterday added to the most volatile market in three years. West Texas Intermediate climbed 4.5 percent in New York, the biggest gain since August 2012... Full Story

Oil Gains From 5-Year Low; Saudi Comments Add Volatility

By Mark Shenk Dec 19, 2014 Crude prices rebounded from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister yesterday added to the most volatile market in three years. West Texas Intermediate climbed as much as 4 percent in New York and Brent 2... Full Story

Natural Gas Prices Fall Despite Larger-than-Expected Storage Withdrawal

By Timothy Puko Natural gas futures closed lower Thursday, whipsawing from gains to losses after traders overlooked a strong storage drain to focus on the larger bearish influence of record production. The front-month January contract settled down six cents, or 1.6%, at $3... Full Story

Oil Prices Resume Slide

By Christian Berthelsen Oil prices resumed their months long slide Thursday amid bearish comments from Russia and OPEC leaders and reports that a Nigerian dockworker strike was lifted, raising the possibility of more crude in a global market already brimming with supplies... Full Story

Oil Drops to 5-Year Low on Concern Supply Glut to Worsen

By Moming Zhou Dec 18, 2014 Crude oil dropped to the lowest level in more than five years on concern a supply glut will worsen. Trading volatility for both Brent and West Texas Intermediate increased to a four-year high... Full Story

Releases

Nabors Cuts Best-Paid U.S. Oil CEO’s Salary Amid Rout

By David Wethe Dec 19, 2014 Nabors Industries Ltd. (NBR) Chief Executive Officer Tony Petrello, the best-paid oil executive in the U.S., and his finance chief are getting salary cuts as the world’s biggest land-rig contractor confronts an industry downturn... Full Story

Oil Price Fall Sees Eni Selloff Put On Hold

By Eric Sylvers Another casualty of oil's collapse in recent months: Italy's plans to make a dent in its national debt by selling about 4.5% of oil and gas company Eni SpA... Full Story

More Indictments Expected in Petrobras Corruption Scandal

By Will Connors and Luciana Magalhaes CURITIBA, Brazil--Brazilian authorities are likely to issue indictments against a third former Petroleo Brasileiro SA executive and several high-ranking local politicians, according to a person close to the investigation, further widening an already... Full Story

Bucking Oil-Price Declines, NGP to Close $5B New Fund in January

By Shasha Dai and Dawn Lim NGP Energy Capital Management, an oil and gas investor partly owned by private-equity giant Carlyle Group L.P... Full Story

Japan's Chubu Electric to Resume Overseas Investment -- Market Talk

[Dow Jones] Chubu Electric Power Co. (9502.TO) will resume overseas energy investment including upstream assets because its financial position has improved thanks to electricity rate hikes in April and May earlier this year, says company president Akihisa Mizuno... Full Story

YPF Falls Most Among Oil Peers on Fuel Price Cut Talks

By Pablo Gonzalez Dec 18, 2014 YPF SA (YPF) fell the most among global energy company peers on speculation that a reduction in Argentine gasoline prices will curb profit and planned investments... Full Story

Weather

California’s Flood of Storms Drying Up Before Drought Is Busted

By Brian K. Sullivan Dec 12, 2014 The flood of storms that has drenched water-starved California will probably taper off by the end of December, reducing this month’s downpour to a trickle... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 12-12-2014 Our prediction for week ending 12-12-2014
3295 3303
Weekly change
-64 down -56 downest

Commodity Prices ($)

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