Featured Articles

Jul 28, 2015

Forecast & Analysis

Statoil CEO Still Believes in $80 Oil in 2018

Statoil chief executive Eldar Saetre says the company hasn't changed its expectations that crude prices will reach $80 per barrel by 2018 despite current worries of oversupply, but adds that "the road there may be bumpy... Full Story

Global Oil Stocks to Hit Highest Level in 2016

[Dow Jones]--Oil markets will be entering 2016 with global oil stocks at the highest level since records began, which is likely to undermine price recovery, says PVM brokerage in a note. Global oil demand is also expected to increase by 1... Full Story

North American Oil Production Outlook Will Remain Challenged

[Dow Jones]--The oil price rebound in May has led to an increase of drilling rigs in the U.S... Full Story

Continued Oil Weakness Likely, Says Citi

[Dow Jones]--A number of bearish factors point to continued weakness for oil despite prices now being already unsustainably low, says Seth Kleinman, analyst at Citi Research. "An ongoing surplus, a rebounding U.S... Full Story

Speculators show global commodities rout still not over

By Veronica Brown and Pratima Desai LONDON, July 27 (Reuters) - Speculators have confirmed what everyone else has been thinking: expect more falls in commodities, as worries about China and higher interest rates combine with waning sentiment to suggest markets are heading further south... Full Story

Oil Slump Far From Over, Says Henderson

[Dow Jones]--If investors thought oil's slump was over, they are wrong, says Bill McQuaker, multi-asset portfolio manager at Henderson, who expects oil prices to remains well below $60 in the future. This will have some implications for investors... Full Story

Top News Stories

Russian Govt Sees Gazprom Gas Output at Historical Low

[Dow Jones]--The Russian Economy Ministry says state gas giant Gazprom's production this year could fall to an all-time low of 414 billion cubic meters from 444 BCM in 2014, amid competition from other energy sources in Europe and domestic rivals... Full Story

BP Not in Discussions with Abu Dhabi Oil Compan

[Dow Jones]--Abu Dhabi's national oil company has been pursuing Europe's oil majors for commitment to re-invest in a 40-year onshore oil concession. It doesn't seem to be going so well... Full Story

Miner Peabody turns to cost cuts as coal prices slump

July 28 (Reuters) - Peabody Energy Corp said it was suspending its quarterly dividend, reducing production of steel-making coal and cutting jobs to stem losses as coal prices remain stubbornly low. The coal miner also reported a much bigger second-quarter loss on Tuesday as it took $900... Full Story

Venezuela seeks light crude contracts to make blends

HOUSTON, July 27 (Reuters) - Petroleos de Venezuela (PDVSA) has asked oil suppliers to submit offers to sell the South American country up to 70,000 barrels per day of ultralight sweet crudes through contracts of one to five years, potential bidders told Reuters... Full Story

U.S. private sector vows to ante up on climate finance

WASHINGTON, July 27 (Reuters) - Some of the biggest U.S. corporate names on Monday offered their support - and billions of dollars in green financing pledges - to buttress the Obama administration's quest for a global agreement on combating climate change... Full Story

Chinese Economics, Not Stocks, the Focus for Analysts

By Josie Cox Violent swings in Chinese stock are rattling global markets Monday, but in the longer run, and at least in Europe, some strategists and investors are more focused on the underlying economic recovery of the country -- and prospects for that don't look too bleak... Full Story

Financial

Oil Prices Poised for Six-Month Lows

By Nicole Friedman NEW YORK--The global oil benchmark was on track Tuesday to settle at its lowest price since January on concerns about the persistent global glut of crude. Both Brent, the global benchmark, and the U.S... Full Story

Natural Gas Futures Rise on Weather Expectations

By Nicole Friedman NEW YORK--Natural-gas prices gained Tuesday on expectations that hot weather this week would boost demand for gas-powered electricity. Natural-gas futures for August delivery recently rose 2.6 cents, or 0.9%, to $2... Full Story

Natural Gas Prices Tick Higher

By Nicole Friedman NEW YORK--Natural-gas prices rose Monday ahead of expected hot weather this week. Natural-gas futures for August delivery settled up 1.3 cents, or 0.5%, at $2.789 a million British thermal units... Full Story

Oil Prices Fall to Four-Month Low Amid China Stocks Rout

By Nicole Friedman Oil prices fell to a four-month low Monday on concerns about a selloff in Chinese stock markets and increased oil drilling in the U.S. U.S. oil prices have slumped 20% this month as the global glut of oil shows no signs of abating... Full Story

Goldman Cuts Natural Gas Price Forecasts -- Market Talk

Goldman Sachs lowers its natural-gas price forecasts to $2.75/mmBtu in 2H and $3/mmBtu in 2016, down from earlier forecasts of $3.30 and $3.50, respectively... Full Story

Natural Gas Prices Tick Higher

By Nicole Friedman NEW YORK--Natural-gas prices rose Monday ahead of expected hot weather this week. Natural-gas futures for August delivery recently rose 3.5 cents, or 1.3%, to $2.811 a million British thermal units... Full Story

Releases

Philadelphia Energy Solutions seeks to buy Bakken logistics assets

NEW YORK, July 27 (Reuters) - Philadelphia Energy Solutions is pursuing a joint venture that would give the U.S. East Coast refiner greater control over its supply chain out of North Dakota's Bakken oil fields, the company has disclosed in federal filings ahead of a initial public offering... Full Story

Arch Coal, Inc. Announces Postponement of One-For-Ten Reverse Stock Split

ST. LOUIS, July 27, 2015 /PRNewswire/ -- Arch Coal, Inc. ("Arch") (ACI) today announced that for administrative purposes it is postponing its previously announced one-for-ten reverse stock split of Arch's common stock... Full Story

BP Expected to Announce More Bad News on Profit -- Earnings Preview

By Sarah Kent BP PLC is set to announce its second-quarter earnings before Tuesday's market open in London, a set of results that most analysts expect will contain more bad news on profits... Full Story

BP Looks to the Future After Settling Deepwater Horizon Claims

By Sarah Kent LONDON--As BP PLC prepares to report on Tuesday its first financial results since settling all federal and state claims over the 2010 Gulf of Mexico spill, investors say they want to know how the company plans to move forward from an event that defined its corporate strategy for... Full Story

Oil in Bear Market Sinks Petrobras as Ibovespa Extends Selloff

by Denyse Godoy July 27, 2015 The slide of crude into a bear market sank Petroleo Brasileiro SA, sending the Ibovespa to the longest rout since February 2013. Petrobras, the oil producer at the center of Brazil’s largest corruption scandal, extended a seven-day plunge to 17 percent... Full Story

Encana Swings to Loss on Impairment Charge

By Judy McKinnon Encana Corp. reported another steep quarterly loss Friday, hurt for the second consecutive quarter by a significant impairment charge and a continued slump in oil and gas prices. The Calgary, Alberta-based energy company booked a $1... Full Story

Weather

Worldwide strengthening El Nino giveth and taketh away

WASHINGTON (AP) — In California, they're counting on it to end an historic drought; in Peru, they've already declared a pre-emptive emergency to prepare for devastating flooding. It's both an economic stimulus and a recession-maker... Full Story

MDA Weather Services Predicts Strong El Niño to Last into 2016

Gaithersburg, MD – (July 21, 2015) The tropical Pacific began its warming trend nearly a year ago, with warming trends accelerating over the past several months... Full Story

Monster El Niño Makes Record-Hot Year Look Inevitable

Bloomberg By Tom Randall This is a new kind of heat. In more than 135 years of global temperature data, four of the five hottest months on record all happened in 2015: February, March, May, and now June... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 7-17-2015 Our prediction for week ending 7-24-2015
2828 2778
Weekly change
+61up +50upest

Commodity Prices ($)

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