Natural gas rallies on ‘polar outbreak’ forecast

Posted: November 7th, 2014 | Author: | Filed under: Energy, Natural Gas, USA | Tags: , , | No Comments »

Natural gas: polar outbreakCold weather boosts consumption of natural gas, which heats about half the homes in the country. This winter’s first bout of cold weather is raising expectations for a repeat of last year, when frigid temperatures spurred record gas demand.

On Thursday, natural gas for December delivery shot up 5% to $4.404 a million British thermal units on the New York Mercantile Exchange, a four-month high.

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The new oil order

Posted: October 30th, 2014 | Author: | Filed under: Commodities, Energy, Oil, Saudi Arabia, Shale gas, USA | Tags: , , , , | No Comments »

Shale oilThe massive growth of shale oil production decreased OPEC capacity in setting oil prices. In a context of limited demand growth, oil prices are currently in the $80~$85 price range and unlikely to exceed $80 next year.

The major factor in declining oil prices is to look on the supply side, says Michael Hsueh in the latest oil report published by Deutsche Bank. Libyan production increased from 0.24 million barrels/day in June to 0.78 mb/d in September. At the same time, Saudi Arabia production has plateaued around 9.7 to 9.8 mb/d. As for OPEC 30 mb/d quotas, if they were still generally followed at the beginning of the year, they were exceeded by 0.7 to 0.9 mb/d in September, said the German bank.

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Commodities slide to 5-year low

Posted: October 16th, 2014 | Author: | Filed under: Agricultural, China, Commodities, Economic Indicators, Energy, Energy, Metals, Oil, Precious metals, USA | Tags: , , , | No Comments »

SteelRaw materials slumped 7.1 percent this year, headed for a fourth annual decline and the longest slump since at least 1991, amid concern that economic growth is weakening as global equity markets lost $1.5 trillion last week.

Data yesterday showed that U.S. retail sales fell 0.3 percent last month on a broad pullback in consumer spending in the world’s largest economy. The Bloomberg Commodity Index (BCOM) fell as much as 0.2 percent to 116.78, the lowest level since mid-2009, and was at 116.87 at 11:25 a.m. in Singapore.

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US natural gas slips 3.5%

Posted: October 7th, 2014 | Author: | Filed under: Energy, Natural Gas, USA | Tags: , , | No Comments »

US natural gasNatural gas for November delivery fell 14.1 cents, or 3.5 percent, to settle at $3.898 per million British thermal units on the New York Mercantile Exchange, the biggest one-day decline since Sept. 2. Volume for all futures traded was 16 percent below the 100-day average. Futures are down 7.8 percent this year.

The U.S. Energy Department’s weekly inventory release showed another larger-than-expected rise in natural gas supplies. Moreover, the storage build was bigger than the benchmark 5-year average gain for the week.

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The U.S. Natural Gas Story in 15 Charts

Posted: October 6th, 2014 | Author: | Filed under: Energy, Gem, Natural Gas | Tags: , , , , | No Comments »

Natural gasThe story of U.S. natural gas gets referenced a lot but you may not know whats going on. Here are 15 charts that tell the story of the U.S. natural gas market which has been completely changed by the rise of horizontal drilling and hydraulic fracturing.

In the past few years, new technologies and cheaper costs allowed producers to access gas trapped in parts of the U.S. previously considered unreachable.

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Is US gasoline price heading for $3?

Posted: September 16th, 2014 | Author: | Filed under: Commodities, Energy, Energy, Oil, USA | Tags: , , | No Comments »

US gas priceRetail gasoline prices often fall as summer vacation winds down, but the speed and size of the recent decline underscore shifts in energy markets that many analysts expect to be lasting. U.S. gasoline output climbed above 10 million barrels a day for the first time on record in late April, according to the EIA, and held above that level in 11 of the 19 weeks since then.

The average is $3.428 a gallon, down 6.2 percent since Memorial Day on May 26, AAA data show. That’s the largest decline from the start of the summer driving season since 2008. U.S. refineries operated at the highest-ever seasonal rates every week since July 4.

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Shale gas blasts open world energy market

Posted: August 12th, 2014 | Author: | Filed under: Energy, Gem, Natural Gas | Tags: , , , , , | 1 Comment »

Shale gas drillingUnconventional treasure: Shale gas is trapped deep inside rock formations.

Shale gas is a new and abundant source of natural gas, trapped in rock formations. Oil companies have known about it for decades but always dismissed it because it was too expensive and difficult to extract.

In the past few years new technologies that pump water underground to fracture the rock and free the gas have been perfected. The breakthrough has opened a new frontier for the energy industry and turned long-held assumptions about the world’s dwindling supplies on their head.
via Shale gas blasts open world energy market on Propurchaser


Gasoline prices peaking in the US

Posted: July 3rd, 2014 | Author: | Filed under: Commodities, Energy, Oil, USA | Tags: , , , | No Comments »

US gas pricePrices at the pump are tracking a sharp rise in oil prices over the past month, after Islamist militants took control of several cities in Iraq. Investors and traders have worried that the spreading insurgency poses a threat to the country’s oil production.

A gallon of unleaded gasoline costed an average of $3.67 Wednesday, almost 20 cents above last year’s price, according to automobile club AAA. In California, drivers have been paying well over $4 a gallon for weeks.

Oil prices have given up some of their gains in recent days, but it will take some time for those declines to be reflected in the cost of gasoline.

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Crude oil: is the US about to lift its export ban?

Posted: June 30th, 2014 | Author: | Filed under: Energy, Oil, USA | Tags: , , , | No Comments »

USA crude oilThe US government has moved towards lifting a 40-year ban on oil exports by allowing two companies to sell ultra-light oil to foreign buyers. Pioneer Natural Resources and Enterprise Products Partners have been told by the Bureau of Industry and Security that they can export the oil, known as condensate, which can be turned into gasoline, jet fuel and diesel.

So, is the US ready to ‘open the floodgates’ of crude oil export? Not quite but it is a good sign as US petroleum export policy has been disjointed for decades, with crude oil and lease condensate exports restricted, but with export of processed molecules allowed.

Confusion around the export regulations is, in part, due to a lack of simple, consistently applied vocabulary. The key focus here is the requirement of processing prior to export.

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Ethanol at six-week low on EIA report

Posted: June 23rd, 2014 | Author: | Filed under: Agricultural, Commodities, Corn, Energy, Ethanol, GMO, USA | Tags: , , , , , | No Comments »

EthanolLast week, Ethanol declined to a six-week low after a government report showed production of the biofuel rose to a record. Ethanol futures for August tumbled 3.7% to $1.991 a gallon in Chicago. Corn futures for July, meanwhile, stood 1.0% higher at $4.43 a bushel, with the data adding to some other arguments that price falls may have been overdone for now.

Ethanol futures fell after the Energy Information Administration said US biofuel plants production rose 3 percent to 972,000 barrels a day last week, up 28,000 barrels a day on the previous week, and the highest figure since records began four years ago.

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