Forecast & Analysis

Funds Lift Bets on Crude Price Rise to 14-Month High

Money-managers increased their bets on rising crude oil prices by 13% last week, to the highest level since March 2012, CFTC data show. These investors lifted their net long position in Nymex crude oil futures and options for a fourth straight week, to 231,794 contracts in the week ended Tuesday... Full Story

Debt Markets Smile on Citigroup, Bank of America

By David Reilly How the lowly have risen. Since the financial crisis, Citigroup and Bank of America have often been seen as the sick men of the too-big-to-fail bank club. No more... Full Story

Goldman Sees WTI-Brent Hedging Opportunity

[Dow Jones] Goldman Sachs says the recent narrowing of the Brent-WTI spread has been over the entire curve, opening up some interesting hedging opportunities for its long September 2013 WTI-short September 2013 Brent position... Full Story

Australia Lures $21 Billion Bet on Coal Rebound: Energy Markets

By Ben Sharples - May 24, 2013 Coal’s worst slump in seven years has failed to deter GVK Group and Adani Enterprises Ltd. (ADE) from pressing ahead with a $21 billion bet on Australia’s Galilee Basin as other companies shelve projects amid rising costs... Full Story

Utilities Sector Looking Vulnerable for Further Weakness

--Dow Utilities falls below 50-day moving average, suggesting further losses in the days ahead --The index is vulnerable to a decline of a little more than 4% to its 200-day MA --Some technicians see the utility sector's underperformance as a long-term positive for the broad market ... Full Story

'Key Reversal' Warns Of More Weakness For Nikkei and U.S.

--'Key reversal' pattern in Japan's Nikkei could kick off short-term correction --Short-term support sits 5.4% below current levels; key long-term support 9.2% below --Similar 'key reversal' in S&P 500 warns of further short-term weakness in U.S... Full Story

Top News Stories

Yemen Main Oil Pipe Attacked Again, Crude Flows Halted -Ministry

By Summer Said Saboteurs blew up part of Yemen's main Marib-Ras Isa oil pipeline Friday, halting the flow of crude, the country's defense ministry said... Full Story

Crude Landlocked as Canadians Join U.S. to Halt Pipelines

By Jeremy van Loon & Christopher Donville - May 24, 2013 British Columbia, the Canadian province whose official slogan to its own beauty is “Super, Natural,” is invoking another saying: “No more supertankers... Full Story

Egypt Still in Talks for Fuel Deals to Ease Shortage-Oil Minister

By Summer Said Egypt is still talking with some Arab oil and gas producers to secure fuel supplies to ease its shortages, Egypt's new oil minister Sherif Haddara said Thursday, after local media reports suggested the deals are collapsing... Full Story

Texas Farmers Lose Another Bid to Block Keystone Pipeline

By Laurel Brubaker Calkins - May 23, 2013 TransCanada Corp. (TRP) won another of the remaining Texas state-court challenges by landowners trying to block construction of the Keystone XL tar-sands pipeline across their property... Full Story

OPEC Oil Shipments to Fall 100,000 B/D in 4 Weeks to June 8

By Sarah Kent Seaborne oil shipments from the Organization of the Petroleum Exporting Countries will fall by 100,000 barrels a day in the four weeks to June 8, compared with the previous four-week period, U.K.-based tanker tracker Oil Movements said Thursday... Full Story

House Passes Keystone Bill as White House Vows Veto

By Jim Snyder - May 22, 2013 The U.S. House of Representatives passed legislation to approve the Keystone XL oil pipeline, the eighth time congressional Republicans have advanced a measure promoting the project... Full Story

Financial

Money Managers Step Back from Natural Gas Bets

Money managers pulled back from bullish wagers on natural gas in the week ended Tuesday, according to CFTC data released Friday. Hedge funds and money managers cut their net-long position to 60,952 contracts, the lowest level since March and the third-straight week of declines... Full Story

Natural Gas Falls as Holiday Weekend Keeps Volume Low

--Natural-gas futures fall 0.6% amid low-volume session --Some investors locking in profits ahead of Memorial Day holiday --Nymex gas settles 2.4c lower at $4.237/MMBtu By Jerry A... Full Story

Crude-Oil Futures Settle Down 10 Cents at $94.15/Barrel, a 3-Week Low

--Gasoline gains ahead of holiday weekend --Crude down for fourth day amid high inventories --Capping prices are worries over Fed, demand from China By David Bird NEW YORK--Crude-oil futures prices fell for the fourth day Friday amid concerns over future growth in oil demand... Full Story

Gasoline Slips on Speculation Demand to Fall After Memorial Day

By Barbara Powell - May 24, 2013 Gasoline fell as equities declined and on speculation that demand will drop after the U.S. Memorial Day Holiday... Full Story

Natural Gas Stalls After Push to Three-Week High

--Natural-gas futures fall 0.7% as traders predict low-volume session --Some investors locking in profits ahead of Memorial Day holiday --Nymex gas recently 2.8c lower at $4.233/MMBtu By Jerry A... Full Story

Crude-Oil Futures Trim Losses After Durable Goods Data

By David Bird NEW YORK--Crude-oil futures prices trimmed earlier losses Friday after news that U.S. durable goods orders in April were stronger than expected. Traders said the market moved in tandem with U.S... Full Story

Releases

Venezuela's PdVSA Gets $1 Billion Credit Line From Schlumberger Ltd.

By Kejal Vyas MORICHAL, Venezuela--State energy monopoly Petroleos de Venezuela SA, or PdVSA, will receive a $1 billion credit line from oil-service provider Schlumberger Ltd. (SLB), Rafael Ramirez, the South American country's oil minister said Friday. Mr... Full Story

BP: Gas Condensate Discovery at KG D6 Block, Offshore India

LONDON--Oil company BP PLC (BP.LN) said Friday that a significant gas condensate discovery was made in Deepwater KG D6 Block, offshore India, in which it has a 30% shake... Full Story

Marathon Oil: Bid to Sell Alberta Oil Sands Stake Fails

By Alison Sider Marathon Oil Corp. (MRO) said its plan to sell a stake in the Athabasca Oil Sands Project in Alberta, Canada, fell through without a deal being reached... Full Story

Occidental CEO Discussed Potential Sale of Overseas Assets, Spinoff-Analysts

By Tom Fowler Occidental Petroleum Corp. (OXY) may consider selling its overseas assets or splitting into three separate companies in order to fund a stock buyback and improve its share price, Chief Executive Steve Chazen told investors this week... Full Story

Kinder Morgan at NAPTP Conference: Merging MLPs Possible

By Dimitra DeFotis Kinder Morgan, the largest pipeline operator and third largest energy company in North America, said it might eventually simplify its rather complex gaggle of companies including master limited partnerships... Full Story

Marathon Oil: Talks to Sell 20% Alberta Oil Sands Stake Fall Through

By Saabira Chaudhuri Marathon Oil Corp. (MRO) said discussions to sell its 20% outside-operated stake in the Athabasca Oil Sands Project in Alberta, Canada, were unsuccessful and talks with a prospective buyer have been terminated... Full Story

Weather

NOAA: Forecasts Active to Extremely-Active 2013 Hurricane Season

By Angel Gonzalez The National Oceanic and Atmospheric Administration said Thursday that the 2013 Atlantic Hurricane season will be more intense than average. NOAA is forecasting an "active or extremely active" storm season beginning June 1 and ending Nov. 30... Full Story

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