Featured Articles

Mar 05, 2015

Forecast & Analysis

Apache: Analyst Slashes Target By $33 But Says It's Still a Buy -- Barron's Blog

By Ben Levisohn Argus analyst Michael Burke slashed his price target on Apache ( APA) but insists its still a Buy: We are reiterating our BUY rating on Apache Corp., but are lowering our target price to $79 from $112 based on our lower commodity price assumptions... Full Story

U.S. Oil Supplies Surge But Capacity Seen As Ample -- Market Talk

U.S. oil inventories increased by the largest amount in over a decade, but fears about storage capacity constraints seem overdone, says Capital Economics. Crude-oil stockpiles gained 10.3 million barrels, the biggest weekly gain since March 23, 2001, the U.S... Full Story

Emerging-Market Stocks Retreat as Oil Decline Saps Energy Shares

... Full Story

The Price of Oil Is About to Blow a Hole in Corporate Accounting

by Asjylyn Loder (Bloomberg) -- There’s one place in the world where oil is still $95 a barrel. On paper. The U.S... Full Story

Analysts Forecast 4.6 Million-Barrel Build in Crude Stocks

By Nicole Friedman NEW YORK--U.S. crude-oil stocks are expected to rise in data due Wednesday from the Department of Energy, according to a survey of analysts by The Wall Street Journal. Estimates from 13 analysts surveyed showed that U.S... Full Story

Russia Billionaire Sees Oil Hitting $100 as Global Output Drops

(Bloomberg) -- When Leonid Fedun first studied the oil market in 1978, he was a young officer in the Red Army asked to research the impact of prices on NATO forces. More than three decades later, the billionaire shareholder in Russia’s second-largest oil company is still at it... Full Story

Top News Stories

Libya Declares Force Majeure on Oil Fields in Central Region

By Benoît Faucon And Summer Said Libya on Wednesday declared a force majeure related to 11 oil fields in the center of country, after a string of attacks against the facilities by the radical group calling itself Islamic State... Full Story

Talks to End Strike by U.S. Oil Workers Set to Resume Next Week

by Barbara PowellDaniel Murtaugh (Bloomberg) -- Royal Dutch Shell Plc and the United Steelworkers’ union will resume talks Monday on a new labor contract after ending discussions today without a resolution to the largest oil worker strike since 1980... Full Story

Oil Companies Begin to Give Up on Yemen

By Summer Said and Hakim Almasmari The political upheaval in Yemen has dealt a powerful blow to the country's oil industry, forcing companies to abandon productive oil patches and evacuate staff as a rebel group consolidates power. Houston-based Occidental Petroleum Corp... Full Story

U.S. Crude-Oil Stocks Post Biggest Weekly Increase in 14 Years

U.S. crude stockpiles posted the largest increase in nearly 14 years in the week ended Feb. 27, according to data released Wednesday by the U.S. Energy Information Administration. Crude-oil stockpiles gained 10.3 million barrels, the biggest weekly gain since March 23, 2001, the EIA said... Full Story

Political Unrest Forces Oil Firms to Abandon Yemen

[Dow Jones]--Political turmoil in Yemen is forcing several energy firms to abandon productive oil patches and evacuate staff as a rebel group consolidates power in the country... Full Story

Iran Seen as More Aggressive in Oil Pricing -- Market Talk

Iran is becoming more aggressive on pricing its oil production as China is reducing its imports from the country, says Hamza Khan, senior commodity strategist at ING Bank. Iran offered its light crude to Asian buyers in March at a discount of $2... Full Story

Financial

Natural Gas Prices Mark Biggest Gains in Nearly Two Weeks

By Timothy Puko Natural gas prices made their biggest gains in nearly two weeks, as strong winter demand and dwindling stockpiles boosted prices. Natural gas for April delivery settled up 5.7 cents, or 2.1%, at $2.769 a million British thermal units on the New York Mercantile Exchange... Full Story

U.S. Crude Rises on Cushing Slowdown; Discount to Brent Narrows

by Moming Zhou (Bloomberg) -- U.S. oil futures gained for a second day, narrowing their discount to international prices as supply growth at the biggest U.S. hub slowed. West Texas Intermediate oil climbed 2 percent as its discount to Brent shrank to the smallest in two weeks... Full Story

Oil Falls on Huge US Supply Build -- Market Talk

US oil prices slide as the EIA reports 10.3M-barrel build in US crude supplies last week, the largest weekly gain since 2001. Gasoline and distillate inventories also fell less than expected as demand slipped. But closely watched inventories in Cushing, Okla... Full Story

Natural Gas Prices Rising on Extreme Cold and Strong Demand

By Timothy Puko Natural gas is rallying as a spate of freezing and even single-digit temperatures is likely to support strong demand for heating fuel this week from Denver to Boston. Natural gas for April delivery is up 5.2 cents, or 1.9%, at $2... Full Story

Natural Gas Prices Edge Up, Boosted by Strong Winter Demand

By Timothy Puko Natural gas prices inched higher Tuesday, boosted by strong winter demand and dwindling stockpiles. Natural gas for April delivery settled up 1.4 cents, or 0.5%, at $2.712 a million British thermal units on the New York Mercantile Exchange... Full Story

Natural Gas Retreat Continues on Warming Weather

By Timothy Puko Natural gas prices are falling for the sixth time in seven sessions as predictions for a March warm-up continue to suggest soft demand for the heating fuel. Natural gas for April delivery is down 0.1 cent, or 0.04%, at $2... Full Story

Releases

Hess Announces Regular Quarterly Dividend On Common Stock

The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on March 31, 2015 to holders of record at the close of business on March 19, 2015... Full Story

Overheard -- Heard On The Street

Exxon Mobil prides itself on consistency. The oil major's annual analyst meeting on Wednesday was the 13th straight one to be hosted at the New York Stock Exchange. CEO Rex Tillerson is told that this makes Exxon's meeting the longest-running at the venue... Full Story

Encana Plans $1 Billion Stock Sale to Trim Debt

by Rebecca Penty (Bloomberg) -- Encana Corp. plans to raise C$1.25 billion ($1 billion) in a share sale to lower debt as it seeks to weather a slump in crude prices. Encana will sell 85.6 million common shares at C$14.60 each and use the proceeds to help repay about $1... Full Story

Petrobras CEO Lost Job Over a $30 Billion Disagreement

by Sabrina ValleAnna Edgerton (Bloomberg) -- As the kickback and money-laundering scandal engulfing state-run oil giant Petrobras escalated in late January, Brazilian President Dilma Rousseff got calls from two of her top appointees... Full Story

Exxon Mobil to Reduce Capital Spending by 12% in 2015

By Angela Chen Exxon Mobil Corp. on Wednesday became the latest oil giant to trim its budget, reporting plans to cut capital spending by 12% this year to $34 billion. However, the company still plans to increase production volumes and start 16 major projects in the next three years... Full Story

CME Launching Oil-Storage Futures Contract -- Market Talk

CME announces the "first-ever physically delivered crude-oil storage futures contract"--which will allow traders to buy and sell the right to store 1K barrels of oil at a hub in Louisiana for a month... 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 2-20-2015 Our prediction for week ending 2-27-2015
1938 1707
Weekly change
-219 down -231 downest

Commodity Prices ($)

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