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Natural Gas Storage Posts First Triple Digit Injection

Natural gas storage inventories increased by 106 Bcf for the week ending May. 11, according to the EIA’s weekly report. This withdrawal was roughly in line with market expectations. Natural gas prices were trading slightly lower than yesterday’s close before the report came out and did not react strongly to the injection. The prompt June contract is trading at $2.80 at time of writing. Working gas storage inventories now sit

Price Rebound on Crude Inventory Draw Capped by Lower Demand Growth Projection by EIA

US crude oil stocks declined 1.4 MMBbl last week. Gasoline and distillate inventories declined 3.8 MMBbl and 0.1 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 4.9 MMBbl alongside gasoline and distillate withdrawals of 3.37 MMBbl and 0.76 MMBbl, respectively. Analysts, on the contrary, were expecting a crude oil draw of 0.76 MMBbl. The most important number to keep an eye on, total petroleum inventory levels, declined

The Week Ahead for Crude Oil, Gas and NGLs Markets – May 14, 2018

CRUDE OIL • US crude oil inventories decreased 2.2 MMBbl, according to the weekly EIA report. Both gasoline and distillates inventories declined, 2.2 MMBbl and 3.8 MMBbl, respectively. Total petroleum inventories posted a withdrawal of 1.5 MMBbl. US production was estimated to be up 84 MBbl/d. Crude oil imports decreased by 1.2 MMBbl/d to an average of 7.3 MMBbl/d versus the week prior. • The WTI trade, for the past

Bullish EIA Report Pushes Gas Prices Near $2.80 Mark

Natural gas storage inventories increased by 89 Bcf for the week ending May 4, according to the EIA’s weekly report. The report is bullish as the injection was smaller than most market expectations, which were in the mid-90 Bcf. Prompt month (June 2018) is up $0.06 MMBtu following the EIA report at $2.795 at the time of writing. See the chart below for projections of the end-of-season storage inventories as of November

Volatile Prices Amidst Potential Iranian Sanctions, Venezuelan Production Declines and an Inventory Draw

US crude oil stocks declined 2.2 MMBbl last week. Gasoline and distillate inventories declined 2.2 MMBbl and 3.8 MMBbl, respectively. Yesterday afternoon, API reported a crude oil draw of 1.85 MMBbl alongside gasoline and distillate withdrawals of 2.06 MMBbl and 6.67 MMBbl, respectively. Analysts were expecting a crude oil draw of 0.72 MMBbl alongside gasoline and distillate withdrawals of 0.45 MMBbl and 1.38 MMBbl, respectively. The most important number to

The Week Ahead for Crude Oil, Gas and NGLs Markets – May 7, 2018

CRUDE OIL US crude oil inventories increased by 6.2 MMBbl, according to the weekly EIA report. Gasoline inventories increased by 1.2 MMBbl, while distillates declined 3.9 MMBbl. Total petroleum inventories posted a 5.4 MMBbl build. US production was estimated to be up 33 MBbl/d. Crude oil imports increased by 80 MBbl/d to an average of 8.5 MMBbl/d versus the week prior. The WTI trade last week remained calm early in the

EIA Reports First Injection of the Season with a 62 Bcf

Natural gas storage inventories increased by 62 Bcf for the week ending Apr. 27, according to the EIA’s weekly report. The report is bearish as the injection was larger than most market expectations. Prompt month was trading lower ahead of the report, and declines were extended following the EIA release, with the June 2018 contract trading down $0.045 per MMBtu at $2.709 MMBtu at the time of writing. See the

Iranian Sanctions Expectations Support Prices Following EIA’s Large Crude Inventory Build

US crude oil stocks increased by 6.2 MMBbl last week. Gasoline inventories increased by 1.2 MMBbl, while distillate inventories posted a decline of 3.9 MMBbl. Yesterday afternoon, API reported a crude oil build of 3.4 MMBbl, alongside a gasoline build of 1.6 MMBbl and distillate draw of 4.1 MMBbl. Analysts were expecting a smaller crude oil build of 0.7 MMBbl. The most important number to keep an eye on, total petroleum

An Examination of the Complete Shale Landscape is Key to Successful Investments

For international and national investors, the prediction at this month’s Bloomberg New Energy Finance Summit that it could take as much as US$170 billion in new infrastructure spending over the next seven years to meet rising shale gas output and address current limitations might be cause for concern. At a time of rising prices and potential long-awaited profitability to the US shale industry, “bottlenecks on the US natural gas super

The Week Ahead for Crude Oil, Gas and NGLs Markets – 4/30/2018

CRUDE OIL US crude oil inventories increased by 2.2 MMBbl, according to the weekly EIA report. Gasoline inventories increased 0.8 MMBbl while distillates declined 2.6 MMBbl. Total petroleum inventories increased 1.4 MMBbl. US production was estimated to be up 46 MBbl/d. Crude oil imports increased 539 MBbl/d to an average of 8.5 MMBbl/d versus the week prior. The WTI trade last week lacked the directional enthusiasm that has gripped the market