Featured Articles

Jul 29, 2014

Forecast & Analysis

Traders Slash Bets On Rising Crude Prices

By Cassie Werber LONDON--Speculators sharply reduced bets on a rising Brent crude oil price for the fourth week in a row, as the commodity showed no signs of recovering its June highs... Full Story

Exxon's Kara Sea Well in Russia a Risky Proposal -- Market Talk

ExxonMobil (XOM) is expected to drill the world's most expensive well this fall. Analysts at Citi Research estimate the planned well in Russia's Kara Sea will cost $450M, but have only a one in five chance of success... Full Story

Bulls Fleeing Natural Gas as Goldman Sees Further Decline

By Naureen S. Malik Jul 28, 2014 Speculators are fleeing natural gas after prices dropped below $4 for the first time since December and power plant production fell to a 13-year seasonal low... Full Story

Should You Swap Out ExxonMobil for ConocoPhillips? -- Barron's Blog

By Ben Levisohn Yes, say the folks at Barclays. They took a long, hard look at integrated oil companies like Chevron ( CVX) and ConocoPhillips ( COP)--but only one came away with a downgrade: ExxonMobil ( XOM)... Full Story

Private Equity Gears Up for Mexican Gas Pipeline Plays -- Market Talk

Private-equity players are gearing up to bid for Mexican natural gas pipelines that state-owned electric utility Comision Federal de Electricidad will auction this year... Full Story

Speculators Add to Bullish Oil Bets -- Market Talk

Money managers grew slightly more bullish on oil last week, CFTC data show. Hedge funds, pension funds and others added 3,277 bets on rising Nymex oil prices and cut 15,580 bets on falling prices in the week ended Tuesday... Full Story

Top News Stories

Italy Sends Aircraft to Extinguish Fuel Blaze, Libya Says

LONDON--Italy has sent aircraft to extinguish a massive blaze near Tripoli, the Libyan government said, raising hopes that a humanitarian disaster could be averted... Full Story

Coast Guard Clears Tanker With Kurdish Oil to Unload

By Dan Murtaugh and Naomi Christie Jul 28, 2014 An oil tanker floating off the coast of Texas is waiting to unload its cargo of oil from the Kurdish region of Iraq after receiving clearance yesterday. The U.S... Full Story

Iraq Sues to Seize $100 Million of Kurdish Crude Off Texas

By Laurel Calkins Jul 28, 2014 The Iraqi Oil Ministry is seeking a court order to seize more than $100 million of oil it claims was illegally pumped from wells in Kurdistan and is now on a tanker waiting to offload in Galveston, Texas... Full Story

Obama, Allies Plan ‘New Measures’ Against Russia

By Gregory Viscusi and Kateryna Choursina Jul 28, 2014 Russian Financial Sector Seen Focus of EU Sanctions U.S., E.U... Full Story

Libya Seeks Foreign Help to Put Out Tripoli Fuel Tank Fire

By Benoît Faucon LONDON--Libya is seeking foreign assistance after a missile caused a storage tank containing petroleum fuel to catch fire at a complex near the Tripoli airport, the state-oil company said Monday. The news comes after escalating violence led to the evacuation of the U.S... Full Story

Venezuela Leaned On Dutch to Release Ex Intelligence Chief -- Market Talk

The US was blindsided by Holland's decision Sunday to free former Venezuelan intelligence chief Gen Hugo Carvajal, who had been cooling his heels in an Aruban jail since his arrest last Friday. US wants Carvajal, who is on the U.S... Full Story

Financial

Natural-Gas Prices Set Eight-Month Low on Soft Demand

By Timothy Puko NEW YORK--Natural-gas prices set a new eight-month low for the fourth time in six sessions, breaking an early-day run Monday as traders stayed focused on low prospects for demand. Prices for the front-month August contract settled down 3.4 cents, or 0.9%, to $3... Full Story

Oil Futures Sag on Tepid Demand

By Nicole Friedman NEW YORK--Crude-oil futures slipped Monday on low global demand, though concerns about further Western sanctions on Russia, a major oil exporter, gave some support to prices. Light, sweet crude for September delivery fell 42 cents, or 0.4%, to $101... Full Story

WTI Crude Declines a Second Day Before U.S. Fuel Inventory Data

By Ben Sharples Jul 28, 2014 West Texas Intermediate fell for a second day before stockpile data that will signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Futures slipped as much as 0... Full Story

Natural-Gas Prices Bounce Slightly Higher After Touching Eight-Month Low

By Timothy Puko NEW YORK--Natural-gas prices were rising slightly Monday with analysts saying traders could be taking profits after the market touched a new eight-month low in off-hours trading, Natural gas for August delivery is up 5.9 cents, or 1.6%, at $3... Full Story

WTI, Brent Decline as Flow of Crude Unaffected in Mideast

By Mark Shenk Jul 28, 2014 West Texas Intermediate and Brent crudes dropped as the flow of oil from the Middle East was unaffected by the surge in violence in Libya and Iraq... Full Story

Natural-Gas Prices Fall Near Eight-Month Low on Soft Demand

By Timothy Puko NEW YORK--Natural-gas prices closed near their eight-month low, resuming the market's sluggish July as unseasonably cool weather keeps damping demand. Prices for the front-month August contract settled down 6.6 cents, or 1.7%, to $3... Full Story

Releases

Anadarko Announces Board of Directors Election

HOUSTON, TX--(Marketwired - Jul 28, 2014) - Anadarko Petroleum Corporation (NYSE: APC) today announced the election of Joseph W. Gorder to serve as an independent director of the company, effective July 28, 2014. Gorder was also appointed a member of the Board's Compensation and Benefits Committee... Full Story

Duke Energy to Buy Some Generating Assets for $1.2 Billion

By Tess Stynes Duke Energy Corp. agreed to a $1.2 billion deal for certain generating assets from the North Carolina Eastern Municipal Power Agency... Full Story

Royal Dutch Shell plc: Buyback of Own Shares

LONDON, July 28, 2014 /PRNewswire/ -- Royal Dutch Shell plc (NYSE: RDS.A)(NYSE: RDS.B) announces that on 28 July, 2014 it purchased for cancellation 430,000 "A" Shares at a price of 2397.70 pence per share... Full Story

Russia Must Compensate Former Yukos Shareholders, Court Rules

By Lukas I. Alpert MOSCOW--An international court ruled that Russia owes shareholders of the now-defunct oil giant Yukos more than $50 billion for what it described as the Kremlin's "devious and calculated expropriation" of assets designed to bankrupt the firm... Full Story

Pemex Predicts Lowest Production in More Than Two Decades

By Adam Williams Jul 25, 2014 12:04 PM MT 2 Comments Email Print Save Petroleos Mexicanos cut its output forecast to the lowest in at least 24 years as mature fields are shrinking faster than it had previously expected. The forecast was lowered to 2... Full Story

Rosneft's Production Surges, But Profit Lags Rivals -- Market Talk

Russia's OAO Rosneft boosts oil and gas production 4.6% to 5 million barrels a day in 2Q, the state-controlled company reports Friday. That's a million barrels a day more than Exxon Mobil. But Rosneft's $4.9B quarterly profit, up nearly fivefold from a year ago, is still meager by Exxon's standards... Full Story

Weather

Japan City Evacuates 90,000 as Typhoon Nears Kyushu

By Jacob Adelman and Brian K. Sullivan Jul 9, 2014 Typhoon Neoguri weakened to a tropical storm as it moved toward Japan’s southernmost main island of Kyushu after prompting the evacuation of almost 90,000 people amid threats of floods and landslides... Full Story

Arthur Leaves Thousands in Atlantic Canada Without Power

By Gerrit De Vynck Jul 7, 2014 Crews are working to bring back electricity to thousands of homes in Atlantic Canada after post-tropical storm Arthur swept through the area... Full Story

Arthur Strengthens to Become First Atlantic Hurricane

By Brian K. Sullivan, Heesu Lee and Naomi Christie Jul 3, 2014 Arthur strengthened off the coast of North Carolina to become the first hurricane of the Atlantic season, packing maximum winds of 75 miles (120 kilometers) per hour... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 7-11-2014 Our prediction for week ending 7-25-2014
2129 2312
Weekly change
+107up +93upest

Commodity Prices ($)

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