Featured Articles

Feb 06, 2016

Forecast & Analysis

Volatile Oil Markets Increase Speculation -- Market Talk

The recent volatility in oil prices has been attributed in some part to heightened activity of speculators in the market, says Commerzbank... Full Story

Citi: 'We Should All Fear Oilmageddon'

By Tracy Alloway February 4, 2016 Markets are currently in a well-oiled "death spiral," according to Citigroup Inc. analysts led by Jonathan Stubbs... Full Story

Battle of Three Oil Benchmarks Upending Crude Flows Across Globe

By Serene Cheong, Heesu Lee and Debjit Chakraborty February 4, 2016 The oil tanker Tofteviken is set to sail from the U.K. this month carrying the first shipment of North Sea Ekofisk crude to the U.S. Gulf Coast in five years... Full Story

Tycoon Pickens Cashes Out on Oil, Awaits Time to Get Back In

By Joe Carroll February 4, 2016 Oil tycoon T. Boone Pickens, who made and lost fortunes targeting some of the largest U.S... Full Story

Analysts See 159 Billion-Cubic Feet Fall in U.S. Natural-Gas Inventories

By Nicole Friedman Analysts expect government data scheduled for release Thursday to show natural-gas inventories last week fell by less than average for this time of year. The U.S... Full Story

Top Performing Norway Fund Finds Refuge in Fish Amid Oil Crash

By Jonas Cho Walsgard February 3, 2016 A sure fire way to beat Norway’s benchmark index is to stay away from its oil stocks. That paid off for the Alfred Berg Gambak fund, which returned 19.6 percent in 2015, 12.9 percentage points more than its reference index... Full Story

Top News Stories

U.S. Oil-Rig Count Declines by 31

By Ezequiel Minaya The U.S. oil-rig count fell by 31 to 467 in the latest week, according to Baker Hughes Inc., accelerating a recent streak of declines. The number of U.S... Full Story

First European Shipments of Iranian Oil May Load Next Week -- Market Talk

Two tankers are set to load Iranian oil mid-February in what could be the first shipments by European Union companies since sanctions were lifted last month, shipping officials and Websites say Friday. The news comes despite uncertainty over whether the shipments could be insured... Full Story

China Oil Output Seen Cracking Under Pressure of Price Collapse

By Aibing Guo February 4, 2016 Cheap crude is a double-edged sword for one of the world’s biggest markets. China’s output in 2016 will decline between 3 percent and 5 percent from last year’s record 4.3 million barrels a day, according to analysts from Nomura Holdings Inc. and Sanford C... Full Story

How Much Global Oil Output Halted Due to Low Prices? Just 0.1%

By Javier Blas February 5, 2016 After a year of low oil prices, only 0.1 percent of global production has been curtailed because it’s unprofitable, according to a report from consultants Wood Mackenzie Ltd. that highlights the industry’s resilience... Full Story

Oil Lower for Longer Seen Hurting Offshore Rig Owners Even More

By David Wethe February 4, 2016 As most of the battered oil industry looks ahead to 2017 for a solid recovery, signs are emerging that the downturn pain could last even longer for owners of the floating rigs that drill in water more than two miles deep... Full Story

Obama Administration Proposes New Tax on Oil Companies

By Amy Harder WASHINGTON--The Obama administration is proposing a $10 per barrel tax on oil companies to fund hundreds of billions of dollars' worth of alternative transportation efforts, part of President Barack Obama's ambitious climate agenda... Full Story

Financial

Oil Prices Fall, Pressured by Strong Dollar, Oversupply Worries

By Nicole Friedman Oil prices slid Friday, pressured by a stronger dollar and concerns that the oversupply of crude will persist. Gasoline futures settled below $1 a gallon for the first time since December 30, 2008. The U.S. oil benchmark fell 8.1% this week and is down 17% for the year... Full Story

Natural Gas Gains on Demand Expectations

By Nicole Friedman NEW YORK--Natural-gas prices surged Friday as forecasts for colder weather boosted demand expectations. Moderate temperatures have limited demand for natural gas as an indoor-heating fuel this winter, pushing the market into oversupply... Full Story

Oil Prices Lower After U.S. Jobs Data

By Nicole Friedman and Georgi Kantchev Oil prices turned negative Friday on a stronger dollar and concerns that the oversupply of oil will persist. The U.S. added a seasonally adjusted 151,000 jobs in January and the unemployment rate fell to 4.9%, the Labor Department said Friday... Full Story

Natural Gas Gains on Demand Expectations

By Nicole Friedman NEW YORK--Natural-gas prices rose Friday as forecasts for colder weather boosted demand expectations. Moderate temperatures have limited demand for natural gas as an indoor-heating fuel this winter, pushing the market into oversupply... Full Story

Oil Prices Lower After U.S. Jobs Data

By Georgi Kantchev Oil prices rose in volatile trade on Friday, then eventually slid to losses after U.S. jobs data showed fewer than expected jobs added in January, but a lower unemployment rate. Brent crude, the global oil benchmark, was down 0.5% to $34... Full Story

Oil Prices Fall on Oversupply Concerns

By Nicole Friedman NEW YORK--Oil prices fell Thursday on expectations that Saudi Arabia, the largest producer in the Organization of the Petroleum Exporting Countries, is unlikely to change its strategy of pumping at full tilt... Full Story

Releases

Exxon Says Beaumont, Texas, Refinery Operations Have Resumed

By Dan Molinski Exxon Mobil Corp. said Friday it has resumed operations at its 340,000-barrel-a-day refinery in Beaumont, Texas, more than two weeks after a power outage in a thunderstorm caused a plant-wide shutdown... Full Story

Citgo Reports Flaring at Corpus Christi Refinery's West Plant

By Dan Molinski Citgo Petroleum Corp. reported flaring of gases Friday caused by a loss of electrical supply at the west plant of its refinery in Corpus Christi, Texas... Full Story

ConocoPhillips: Debt Agencies in Control? -- Barron's Blog

By Ben Levisohn Credit Suisse analysts Edward Westlake and Ben Combes argue that while ConocoPhillips ( COP) cut its dividend more than they "thought was necessary," the "debt agencies [are] in control... Full Story

Lithuania Revises Deal for LNG from Norway's Statoil -- Market Talk

Lithuania's Lietuvos Dujos Tiekimas will buy liquefied natural gas from Norway's Statoil until October this year under a revision of a deal the country signed in 2014, according to a statement on the company's website... Full Story

Hess Falls 11% on Stock Sales to Raise $1.43 Billion

By Jim Polson February 5, 2016 Hess Corp., the New York-based oil and gas producer said it will raise $1.43 billion from sales of stock and depositary shares after reporting its first annual loss since 2002... Full Story

Hess Falls 11% on Stock Sales to Raise $1.43 Billion

By Jim Polson February 5, 2016 Hess Corp., the New York-based oil and gas producer said it will raise $1.43 billion from sales of stock and depositary shares after reporting its first annual loss since 2002... Full Story

Weather

East Coast, Ohio Valley brace for possible big snowstorm

WASHINGTON (AP) — Tens of millions of Americans from Washington to Boston and the Ohio Valley could be walloped by an end-of-the-week snowstorm, meteorologists say. Although it's still early, computer forecast models all see a windy, strong slow-moving storm... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 1-29-2016 Our prediction for week ending 1-22-2016
2934 3093
Weekly change
-152 down -204 downest

Commodity Prices ($)

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