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Jan 25, 2015

Forecast & Analysis

OPEC Has No Easy Cure for Shale -- Heard on the Street

By Liam Denning OPEC insists it isn't out to kill the U.S. shale boom. Yet shale exploitation is worrisome for the cartel. It is a technological breakthrough that could spread to other countries... Full Story

Speculators Walk Back Bullish Crude Bets a Little -- Market Talk

Last week, hedge funds and other money managers boosted bets on rising crude prices by an aggressive 12%, thinking market prices had perhaps reached a bottom after such a huge selloff over the last seven months... Full Story

Don't Expect Cuts to Natural Gas Production -- Market Talk

Natural gas producers aren't likely to balance their market this year with production cutbacks, says Macquarie. Low prices are threatening capital budgets, but producers are still on pace for year-over-year growth of about 4 bcf a day in 2015... Full Story

Is It Time to Invest in Energy Stocks?

By Dan Strumpf The sharp fall in oil prices has wreaked havoc on shares of energy companies, leaving investors to decide whether now is the time to go bargain hunting. U.S. crude prices have fallen by more than half since June, trading at a six-year low of around $45 a barrel... Full Story

Head West for Best Look at U.S. Oil Drillers’ Pain

By Lynn Doan and Zain Shauk Jan 23, 2015 Little is going right for California’s oil industry. Turns out the state’s shale formation holds less promise than producers expected. Aging conventional wells are drying up... Full Story

Meet the New King, Same as the Old King: Price-Crushing Oil Policy Stands

By Maher Chmaytelli Jan 23, 2015 King Salman, Saudi Arabia’s new ruler, will keep Oil Minister Ali Al-Naimi in his post, bolstering expectations that he will continue the policy of maintaining crude output to preserve market share even as prices have plunged... Full Story

Top News Stories

Al-Naimi Likely to Remain Saudi Oil Minister Until Market Calms

By Summer Said and Benoît Faucon Saudi Oil Minister Ali al-Naimi is likely to stay in his position until current oil-market turbulence subsides, according to Saudi and Persian Gulf oil officials familiar with the matter--with Riyadh eager to signal stability and consistency in its oil policy... Full Story

Dueling Oil Benchmarks Converge in Their Price, but Diverge in Their Stories

By Jo Craven McGinty The economic ripples caused by the free-falling price of oil in recent months have drawn wider public attention to the daily cost of a barrel of crude... Full Story

U.S. December Oil Glut Highest Since Depression, API Says

By Mark Shenk Jan 23, 2015 U.S. crude inventories in December surged to the highest level for the month since 1930 as production climbed, the American Petroleum Institute said. Stockpiles rose 7.4 percent from last year to end December at 383... Full Story

Saudi King Faces Economic Challenges as Reign Begins

By Asa Fitch Saudi Arabia's new king faces a thorny set of economic and social challenges as his reign begins, especially as falling oil prices limit government spending aimed at keeping the kingdom's expanding youth population content and fighting terror... Full Story

Iraq's Prime Minster: Oil Price Fall May Hurt Fight Against Islamic State

By Jay Solomon LONDON--Falling global energy prices are imperiling the Iraqi government's efforts to fight Islamic State militants, drawing fresh appeals from Baghdad for financial assistance. Iraqi Prime Minister Haidar al-Abadi publicly raised the issue following meetings Thursday in the U... Full Story

Yemen President Hadi Resigns After Shiite Rebels Seize Palace

By Mohammed Hatem and Caroline Alexander Jan 23, 2015 Yemen’s Houthi rebels and supporters of the embattled president called for rallies a day after their political standoff tipped the nation deeper into chaos... Full Story

Financial

Natural Gas Surges on Signs of Cold Weather and Heating Demand

By Timothy Puko Natural gas had a strong rebound Friday as weather forecasts for a frigid East Coast sparked hopes of strong demand for the heating fuel. The front-month February contract settled up 15.1 cents, or 5.3%, at $2... Full Story

U.S. Oil Prices Slide to Six-Year Low

By Christian Berthelsen U.S. oil prices declined to a new six-year low on Friday as investors bet that a change in Saudi Arabia's leadership was unlikely to alter the kingdom's policy of continuing to pump crude despite falling prices... Full Story

Natural Gas Surges on Signs of Cold Weather and Heating Demand

By Timothy Puko Natural gas is rebounding Friday as weather forecasts for a frigid East Coast spark hopes of strong demand for the heating fuel. Natural gas for February delivery is up 10.5 cents, or 3.7%, at $2.94 a million British thermal units on the New York Mercantile Exchange... Full Story

Oil Prices Slip as No Change Seen in Saudi Policy

By Christian Berthelsen And Georgi Kantchev Oil prices slipped Friday as investors bet that a change in Saudi Arabia's leadership was unlikely to alter the kingdom's oil-market policy. The U.S. oil benchmark, which had risen as much as 3... Full Story

Oil Erases Gains as New Saudi King Says Policies Stable

By Grant Smith and Moming Zhou Jan 23, 2015 Oil erased gains in New York following the death of King Abdullah of Saudi Arabia as his successor said policies won’t change in the world’s largest crude exporter. Brent pared an earlier advance of as much as 2.6 percent in London... Full Story

Oil Prices Slide as Supplies Grow

By Nicole Friedman Oil prices slid Thursday, nearing recent lows, as U.S. crude-oil supplies hit their highest January level in more than 80 years. U.S. crude inventories rose by 10.1 million barrels in the week ended Jan. 16, the U.S... Full Story

Releases

Eni Investments Hit by Oil-Price Plunge

By Thorold Barker And Eric Sylvers DAVOS, Switzerland-- Eni will postpone investments in its most costly projects as the Italian oil major seeks to mitigate the effects of the recent plunge in oil prices, Chairwoman Emma Marcegaglia said... Full Story

Pimco-Led Rescue of Batista Startup Seen Faltering on Oil

By Juan Pablo Spinetto Jan 23, 2015 The restructuring of former billionaire Eike Batista’s oil company, led by bondholders including Pacific Investment Management Co., is at risk of being derailed by crude’s collapse. Brent crude fell to as low as $45.19 a barrel this month, below the $61... Full Story

Statoil Tightens Its Belt as Oil Prices Plunge

By Kjetil Malkenes Hovland GUDRUN PLATFORM, North Sea--Amid years of high oil prices, Statoil ASA spent $2.67 billion on developing the Gudrun field--a relatively small reservoir of crude buried more than 2 miles under the sea floor here... Full Story

Ex-BP Executive Named Apache CFO

By Maria Armental Stephen J. Riney, BP PLC's former chief financial officer for exploration and production, has been appointed Apache Corp.'s executive vice president and chief financial officer, Apache said on Thursday... Full Story

Royal Dutch Shell plc - Buyback of Own Shares

LONDON, January 22, 2015 /PRNewswire/ -- Royal Dutch Shell plc (NYSE:RDS.A)(NYSE:RDS.B)announces that on 22 January, 2015 it purchased for cancellation 635,000 "A" Shares at a price of 2175.64 pence per share... Full Story

Oil Woes Continue; Lukoil Cuts Planned Spending -- Davos Market Talk

[Dow Jones]--OAO Lukoil Holdings is the latest in a string of oil companies to cut its planned spending. The Russian oil giant is reducing its 2015 investment plan by 10% or $1.5 billion, says Lukoil President Vagit Alekperov in an interview on Thursday in Davos... Full Story

Weather

Winter Storm Brings Rainbow of Colors to the Weather Service Map

By Brian K. Sullivan Jan 23, 2015 With a winter storm swinging east across the U.S., the National Weather Service map has become a rainbow of color-coded warnings... Full Story

First significant winter storm headed to Northeast

PHILADELPHIA (AP) — A messy mix of rain, snow and sleet is bearing down on the Northeast's major cities in what forecasters are calling the Interstate 95 corridor's first brush with a significant winter storm this season... Full Story

Hopes for Drought’s End Fade as California Rains Vanish

By Brian K. Sullivan Jan 22, 2015 California will reach the halfway point in its rainy season this weekend. Hopes that the three-year drought will be washed away are probably already in the past... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 1-09-2015 Our prediction for week ending 1-16-2015
2853 2632
Weekly change
-236 down -221 downest

Commodity Prices ($)

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