Featured Articles

Jan 31, 2015

Forecast & Analysis

Speculators Stay Bullish in Oil Market Positioning -- Market Talk

Hedge funds and other money managers kept bullish positioning about level in the oil market according to CFTC data. Net length was 216,325 contracts through the week ended Tuesday, compared with last week's 216,704, after traders added nearly identical amounts of bullish and bearish positions... Full Story

Who Will Blink First In The Oil Market? -- Market Talk

The oil crash will have huge medium-term supply impact, says Bank of America Merrill Lynch. With OPEC no longer willing to adjust output to balance the global oil market, non-cartelized producers will have to react faster to the changing environment, the bank says... Full Story

OPEC Likely to Dig in Heels; Oil Recovery to be Painful -- Market Talk

OPEC's decision not to cut its oil output despite falling prices was not part of a pre-planned strategy to squeeze out U.S. shale producers, says Investec. Rather, it believes OPEC, led by Saudi Arabia, "stumbled into the current oil price collapse and now seems committed to a war of attrition... Full Story

Shell's Defense Sounds Retreat for Big Oil -- Heard on the Street

By Liam Denning Big Oil is supposed to provide a fortress amid turmoil in the energy market. But the first set of fourth-quarter results from the supermajors, Royal Dutch Shell's on Thursday, clearly didn't reassure: The stock dropped almost 5%... Full Story

Ukraine Fighting Hampers Coke, Steel Exports -- Market Talk

The escalation of hostilities between Ukrainian forces and Russian separatists in the port city of Mariupol is hurting exports of coke and steel, according to shipping analysts at IHS Maritime and Trade... Full Story

Goldman Sees Commodities as Worst Pick Before Year-End Rally

by Millie MunshiJasmine Ng (Bloomberg) -- Commodities will lag behind equities, bonds and credit markets over the next three months before a rebound in oil sparks a recovery, according to Goldman Sachs Group Inc... Full Story

Top News Stories

Islamic State Militants Launch Offensive Outside Kirkuk

By Nour Malas Islamic State militants launched their biggest offensive yet outside Kurdish-controlled Kirkuk and tried to penetrate the city itself, part of a spate of brazen attacks by the extremist group against Kurdish forces across Iraq on Friday. A senior Kurdish commander, Brig. Gen... Full Story

Colombia Considers Measures to Aid Its Battered Oil Sector

By Sara Schaefer Muñoz BOGOTÁ, Colombia--Representatives from the country's energy ministry and hydrocarbons agency met on Thursday to come up with an action plan to assist Colombia's battered oil sector, as the share price of the country's largest independent oil company plunged... Full Story

Islamic State Militants Launch Offensive Outside Kirkuk

By Nour Malas Islamic State militants launched their biggest offensive yet outside the Kurdish-controlled city of Kirkuk and tried to penetrate the city itself, in a spate of brazen attacks by the extremist group on Kurdish forces across Iraq. A senior Kurdish commander, Brig. Gen... Full Story

U.S. Stocks Drop as GDP Growth Slows

By Dan Strumpf And Saumya Vaishampayan U.S. stocks declined on Friday after data showed U.S. economic growth slowed in the fourth quarter. The Dow Jones Industrial Average fell 136 points, or 0.8%, to 17284. The S&P 500 dropped 18 points, or 0... Full Story

U.S. Stocks Mixed as Oil Drop Continues to Weigh

By Alexandra Scaggs And Saumya Vaishampayan U.S. stock indexes were mixed Thursday, as the continuing drop in crude-oil prices continued to weigh on energy shares. The Dow Jones Industrial Average rose 49 points, or 0.3%, to 17240. The S&P 500 declined one point, or 0... Full Story

Saudi King Reshuffles Cabinet, Keeps Oil Minister in Place

By Summer Said Saudi Arabia's new king announced Thursday a shake-up of the kingdom's government, but kept veteran oil minister Ali al-Naimi in place. Mr... Full Story

Financial

Natural Gas Sets Fresh Two-Year Low on Strong Supply

By Timothy Puko Natural gas extended its losing streak to a third session and set a fresh two-year low as traders continue to sell off because of strong supply, analysts said. The front-month March contract settled down 2.8 cents, or 1%, at $2... Full Story

U.S. Oil Prices Surge 8% in Short-Covering Rally

By Christian Berthelsen U.S. oil prices surged more than 8% Friday as traders jettisoned bearish bets against the market after data showed a steep drop in the number of rigs drilling for oil in the country--a sign the wave of crude may be starting to ebb... Full Story

Natural Gas Tests New Lows on Strong Supply, Warming Weather

By Timothy Puko Natural gas touched its lowest point since August 2012 Friday morning and is still trading lower on strong supply and signs of softer heating demand in the weeks to come. Natural gas for March delivery is down 4.2 cents, or 1.5%, at $2... Full Story

Oil Prices Waver After U.S. GDP Data

By Christian Berthelsen And Georgi Kantchev Oil prices wavered between gains and losses Friday as fourth-quarter U.S. economic growth came in weaker than expected... Full Story

Oil Prices Rises but Sustained Recovery Seen as Unlikely

By Georgi Kantchev Oil prices posted gains on Friday, but analysts cautioned that a sustained recovery is unlikely until there are more signs of production cuts in the oversupplied global market... Full Story

Natural Gas Prices Sink on Smaller-Than-Expected Stockpile Drain

By Timothy Puko Natural gas closed at its lowest price in more than two years after federal data showed U.S. storage levels fell far less than expected last week. Storage levels shrank by 94 billion cubic feet in the week ended Jan. 23, the U.S. Energy Information Administration said... Full Story

Releases

Royal Dutch Shell plc: Voting Rights and Capital

LONDON, January 30, 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

Mitsui CEO Committed to Energy Even as Oil Prices Fall -- Market Talk

[Dow Jones] The chief executive of Mitsui & Co. (8031.TO) said his company will likely take a hit from recent plunging oil prices but didn't expect its investments in oil-and-gas producing shale projects to become unprofitable long-term... Full Story

Royal Dutch Shell plc: Voting Rights and Capital

LONDON, January 30, 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

Chevron Helped by Refining, Asset Sales

By Chelsey Dulaney Chevron Corp. said Friday that asset sales and strength in its refining segment helped offset tumbling crude oil prices, resulting in better-than-expected results in its December quarter... Full Story

Chevron's $27.8B Debt is Highest in Decades -- Market Talk

Chevron (CVX) ended 2014 with $27.8B of debt, double its borrowings from two years ago and the highest it has been going back at least 20 years, according to data compiled by S&P Capital IQ. CVX still possesses a $12.8B pile of cash, but that fell $3.5B last year... Full Story

Chevron Slips Despite Q4 Beat, Lowers '15 CapEx Budget -- Barron's Blog

By Teresa Rivas Chevron ( CVX) was edging down in early trading Friday, despite a better-than-expected fourth-quarter report. The oil giant said it earned $1.85 a share on revenue that fell 17.9% to $46.09 billion. Analysts were looking for it to earn $1.65 a share on revenue of $44... Full Story

Weather

Blizzard Brings Northeast U.S. to a Grinding Halt

By Henry Goldman and Esmé E. Deprez Jan 26, 2015 A nor’easter blizzard of historic proportions barreling up the U.S. East Coast prompted authorities to shut highways, bridges, transit systems, schools, Broadway shows and sporting events in a swath from New Jersey through New England... Full Story

Blizzard Set to Bring New York, Northeast to a Standstill

By Brian K. Sullivan and Henry Goldman Jan 26, 2015 A nor’easter blizzard of historic proportions barreling up the U.S. East Coast prompted authorities to shut highways, transit systems, schools, Broadway shows and sporting events in a swath from New Jersey through New England... Full Story

Airlines Scrap 1,900 U.S. Flights as Storm Hits Northeast

By Edward Dufner and Kyunghee Park Jan 26, 2015 Air travel to New York is being slashed as carriers scrap thousands of U.S. flights to keep planes, crew and passengers out of the path of a blizzard threatening the Northeast with as much as 2 feet of snow... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 1-16-2015 Our prediction for week ending 1-23-2015
2673 2527
Weekly change
-216 down -110 downest

Commodity Prices ($)

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