Bullish back to back days for SARA.
Article continued. Analysts surveyed by Platts had been looking for a decline between 273 billion cubic feet and 277 billion cubic feet.
In a report Thursday, Bentek Energy, the oil and natural-gas analytic unit of Platts, said domestic natural-gas production in the lower 48 states averaged 65 billion cubic feet a day in January, down 1.1% from December 2013, but up 3.2% from January 2013.
In other commodities markets, milk futures DAH4 -1.66% slipped a bit after a three-session climb, but have already gained more than 20% year-to-date as a drought in the U.S. raises worries over cattle supplies.
Pasted. The spring refinery maintenance period typically begins in February, reducing production capacity for petroleum products.
The good and the bad
Oil traders also assessed the much-anticipated U.S. employment report. The U.S. economy added 113,000 jobs in January, below the 190,000-jobs threshold that economists polled by MarketWatch were expecting but the unemployment rate fell to 6.6% from 6.7%, matching forecasts.
“Outside of the disappointment on the headline payroll front, and especially the weak performance in service-sector employment, the underlying guts of this employment report were unusually strong,” said Millan Mulraine, deputy head of U.S. research and strategy at TD Securities, in a note.
“The report showed broad-based improvement in a variety of ancillary labor market indicators — pointing to a reduction in labor market slack,” he added.
Crude dropped to around $97.11 a barrel after the jobs report before bouncing back as traders weighed the prospects for oil demand.
On ICE Futures, Brent crude oil, the European benchmark, saw its March contract UK:LCOH4 +2.28% jump $2.38, or 2.2%, to $109.57 a barrel, with prices gaining around 3% for the week.
Economic data from China was downbeat, however. The HSBC China Purchasing Managers’ Index, which measures growth in the service sector of the country’s economy, fell in January.
Natural gas extends losses
Back on Nymex, natural-gas futures lost more ground in the wake of Thursday’s data showing that supplies last week fell less than expected.
March natural gas NGH14 -3.18% settled at $4.775 million British thermal units, down nearly 16 cents, or 3.2%. For the week, it was down 3.4%.
Thursday saw a loss of 10 cents, or 2%, after the EIA reported a drop in weekly U.S. supply of 262 billion cubic feet.
Bullish for SARA .Oil briefly tops $100, gains 2.5% on week
’Risk-on rally’ for oil as U.S. equities jump; natural-gas prices fall for a third day
By Myra P. Saefong and Victor Reklaitis, MarketWatch
SAN FRANCISCO (MarketWatch) — Oil futures rallied on Friday, tacking on nearly 3% for the week after briefly topping $100 a barrel shortly before the close of the trading session on the New York Mercantile Exchange.
Prices found support from a rally in U.S. equities and a climb in heating-oil and gasoline futures as analysts suggested there was plenty of strong data lingering beneath the surface of the U.S. jobs report, offering hope for a better outlook on oil demand.
Natural-gas futures, meanwhile, extended their losses to a third-consecutive trading session.
March crude oil CLH4 +2.35% climbed $2.04, or 2.1%, to settle at $99.88 a barrel on the New York Mercantile Exchange. Futures prices saw a gain of 2.5% from their $97.49 close last Friday.
According to FactSet data tracking the most-active contracts, futures prices marked their highest close since Dec. 27. Prices had briefly touched a high of $100.06 in the last few minutes before the Nymex close.
“Oil looks like a risk-on rally,” said Phil Flynn, senior market analyst at Price Futures Group, attributing oil’s hefty gains to the big rally in stocks traded on Wall Street.
Prices for petroleum products led the percentage gains on Nymex, “with current physical tightness as a support for heating oil, and improving seasonal prospects for gasoline in the months ahead as the fundamental backing for the gains,” said Tim Evans, energy analyst at Citi Futures.
March gasoline RBH4 +2.28% closed up nearly 7 cents, or 2.5%, at $2.75 a gallon, up 4.5% for the week. March heating oil HOH4 +1.70% picked almost 6 cents, or 1.8%, to end at $3.05 a gallon, tacking on about 1.8% for the week.
continued- growth slowed in January to the lowest level in eight months, which helped put pressure on Nymex oil prices, but a report Tuesday showed that U.S. factory orders fell less than expected in December.
Economic concerns surrounding emerging markets continued to keep prices for Brent crude, the European benchmark oil, in check.
March Brent crude UK:LCOH4 +0.20% settled at $105.78 a barrel on ICE Futures, down 26 cents on Tuesday after a loss of 0.3% a day earlier.
“While emerging markets remain a headwind for Brent, particularly with China sluggish, [West Texas Intermediate crude on Nymex] may be benefitting from higher demand for heating oil,” said Colin Cieszynski, senior market analyst at CMC Markets, with forecasts calling for the big winter storms this week.
For now, March heating oil HOH4 +0.40% ended at $2.98 a gallon, down 2.5 cents, or 0.8% on Nymex, while March gasoline RBH4 +0.46% closed down less than half a cent at $2.60 a gallon.
SARA should pop as the energy markets trend higher.
Feb. 4, 2014, 3:18 p.m. EST
Natural gas closes nearly 10% higher; oil rebounds
Natural-gas prices mark first gain in four sessions; Nymex oil back above $97
By Myra P. Saefong and Laura He, MarketWatch
SAN FRANCISCO (MarketWatch) — Natural-gas prices surged nearly 10% on Tuesday, settling at their highest price in almost a week, with traders betting on a big weekly drop in U.S. supplies as severe cold lingers in the Northeast.
Oil futures, meanwhile, recoup some of their losses from the previous session as the market readies for updates on petroleum inventories.
March natural gas NGH14 -0.74% climbed 47 cents, or 9.6%, to settle at $5.375 per million British thermal units on the New York Mercantile Exchange. The strong gain followed three-straight sessions of declines and lifted futures prices to their highest close since Jan. 29.
“Jekyll and Hyde price action” continued in natural gas, said Matt Smith, author of energy and financial-market newsletter The Daily Distillation, with the “ebb and flow of weather outlooks” prompting natural gas to charge back above $5 “as below-normal conditions blanket key regions such as the Midwest and Northeast through mid-Feb.”
“Add to this the prospect of another near-record withdrawal from storage on Thursday, and we are seeing the darker side of natural gas once more,” he said in a daily email.
The U.S. Energy Information Administration will release its supply data, covering the week ended Jan. 31, on the heating fuel Thursday. Citi Futures forecasts a decline of 258 billion cubic feet.
The market last saw a record weekly supply decline of 287 billion cubic feet for
Continued . emerging markets turmoil.
A pullback in stimulus will strengthen the dollar, weighing on dollar-priced commodities such as oil.
U.S. crude's discount to Brent oil, fell to its lowest since Jan 24 at $9.51 per barrel, and was heading for its lowest close since Nov 7.
The EIA data showed that U.S. distillate stocks fell 4.6 million barrels last week, versus forecasts for a 2.2 million barrel drop.
Distillate inventories were 116 million barrels nationwide in the week ended Jan. 24. On the East Coast, which has suffered two cold spells this month, they fell 3.8 million barrels to 29.5 million barrels, the lowest level since April 2008.
Higher U.S. refinery production and a fall in U.S. net exports of oil products "were insufficient to prevent the large stock draw that leaves (distillate) inventories far below the bottom of the five-year range for this time of year," BNP Paribas analysts said in a note.
"With colder-than-normal weather expected in coming days, stocks may decline further." (Additional reporting by Manash Goswami in Singapore; editing by William Hardy)
Cold weather will keep pushing Nat gas and oil higher in my opinion. Pasted article
UPDATE 5-Oil lifted by cold U.S. weather
Thu Jan 30, 2014 10:23am EST
* Drop in U.S. distillate stocks more than double expectations
* Libyan deputy PM survives assassination attempt
* U.S. crude discount to Brent oil heads for highest close since November (Recasts lead, updates prices, adds Brent/WTI spread)
By Simon Falush
LONDON, Jan 30 (Reuters) - Brent oil rose to around $108 per barrel on Thursday and U.S. crude reached its highest in a month on bitter cold in the United States which boosted heating oil demand.
However gains were limited by weak Chinese economic data and a U.S. Federal Reserve move to trim its monetary stimulus.
Brent crude was up 24 cents to $108.09 a barrel as of 1243 GMT after settling 44 cents higher the previous day. It earlier reached as high as $108.30.
U.S. crude was up $1.18 cents at $98.54, after earlier reaching $98.59, its highest since Dec. 31.
Weak Chinese manufacturing data and the Fed decision to stick with plans to wind down its monetary stimulus programme, despite recent turmoil in emerging markets, weighed on riskier assets. Global equities hit a 3-1/2 month low.
Also pointing to less robust oil demand growth in China, BP said it was dropping plans to invest in a refinery there, three sources with direct knowledge said.
Oil bucked the wider market decline after data from the Energy Information Administration (EIA) showed U.S. distillate stocks had fallen by more than double the amount expected.
"There's more demand for products in the cold weather, and that's feeding through to the oil price," Michael Hewson, an analyst at CMC Markets, said. "I think WTI (U.S. crude) has the potential to reach $99 per barrel."
The Fed's move to trim its monthly stimulus program was widely expected, although some investors had speculated that the U.S. central bank might put its plans on hold given the emerging ma
If the Natural gas keeps rising maybe SARA will consider increase its Nat Gas production. Hopefully Oil will continue trending higher as well. Side note if congress passes new sanctions on IRAN oil will blast higher. We shall see how it unfolds.
With oil starting to rise and the conference update coming SARA could have a nice in the next few weeks imo .
Wednesday, 22 Jan 2014 | 12:24 PM ET
Brent futures rose above $107 a barrel on Wednesday as outlook reports indicated global oil demand will rise more quickly this year due to accelerating economic growth in industrialized countries.
Economic growth will absorb more supply even as U.S. shale oil output reaches record highs, the International Energy Agency (IEA) said on Tuesday. The same day, the International Monetary Fund (IMF) raised its global growth forecast for the first time in nearly two years, saying advanced nations could pick up the mantle of growth from emerging markets.
Brent crude added more than $1 to trade near $108 a barrel. On Tuesday, Brent hit a nearly two-week high of $108.00 and ended 38 cents up. U.S. oil was up nearly $2, testing levels just under $97 a barrel, to touch its highest in more than two weeks.
The IMF also pointed to the United States as one of the bright spots for the global economy. Beyond the improving demand outlook, geopolitical tensions in the Middle East also continue to put a floor on oil prices.
Crude extended its rally after TransCanada Corp said it is shipping crude oil on the 700,000-barrel-per-day Gulf Coast pipeline, a $5.3 billion project expected to help eliminate a bottleneck that has warped the U.S. oil market for three years.The Gulf Coast line is the southern leg of TransCanada's controversial Keystone XL project, which, more than five years after the initial filing, is still awaiting a final decision from the Obama Administration.
The pipeline will likely ship just over 300,000 bpd of oil this month, traders said last week.
Oil prices have been rising the last few days. Hopefully this will keep going.
(Rest of the article pasted)the Organization of the Petroleum Exporting Countries forecast on Thursday that global oil demand would increase by 1.05 million barrels per day to 90.91 million barrels per day in 2014 over the same time a year earlier.
Still, OPEC said it expects demand for its crude oil to decline amid growing supplies outside of its member countries, mainly from the U.S., Canada, Brazil and the Sudans.
Overall, “the strength of the U.S. economy, especially as it relates to employment gains and manufacturing activity” has been supportive for oil prices, said analysts at the Kilduff Report. And “the geopolitical aspect is also constructive for prices, with the security situation in Iraq being a renewed focus.”
“Iraq appears ready to blow apart,” they said, almost pointing out that “U.S.-Saudi relations are not all that great at the moment.”
On ICE Futures, the European benchmark crude, March Brent oil UK:LCOH4 +0.95% rose 52 cents, or 0.5%, to $106.27 a barrel.
Also providing support for oil prices, the U.S. Energy Information Administration (EIA) reported on Wednesday a larger-than-expected draw of 7.7 million barrels last week, bringing the seven-week decline to 41.2 million barrels.
Back on Nymex, natural-gas futures declined, looking to give back most of Thursday’s 1.3% gain.
But prices for the heating fuel were poised for a hefty gain of around 7% for the week after the EIA on Thursday reported a record weekly decline in natural-gas supplies for the week ended Jan. 10. The drop of 287 billion cubic feet, however, was below market expectations, many of which were at 300 bcf or above following last week’s so-called polar vortex weather event.
February natural gas NGG14 -1.32% fell nearly 4 cent, or 0.8%, to $4.35 per million British thermal units.
Elsewhere on Nymex, February gasoline RBG4 +1.40% rose almost 3 cents, or 1.1%, to $2.62a gallon, down about 1.7% for the week, while February heating oil HOG4 +1.47% add
I didn't realize the computer was logged into another person's yahoo account. That was my post.
Anyhow the hopefully the price of oil gets a nice lift, SARA could pop on that.
Futures Movers Archives | Email alerts
Jan. 17, 2014, 10:37 a.m. EST
Oil tops $94, ready to score weekly climb
Natural-gas futures poised for 7% weekly gain; energy traders mull supply, demand
By Myra P. Saefong and Barbara Kollmeyer, MarketWatch
SAN FRANCISCO (MarketWatch) — Oil futures climbed on Friday, but briefly pared some of their gains after disappointing data on U.S. consumer sentiment dulled the outlook for energy demand.
Oil prices were still ready to score a gain for the week after data showing a bigger-than-expected decline in U.S. crude inventories. Natural-gas futures, meanwhile, were poised for a heft gain on the week a day after a report showed a record decline in supplies of the heating fuel.
CLG4 94.50, +0.54, +0.58%
February crude oil CLG4 +0.58% added 31 cents, or 0.3%, to $94.27 a barrel on the New York Mercantile Exchange. Prices traded around 1.7% higher than the week-ago close.
Oil futures were up at around $94.38 shortly before the University of Michigan and Thomson Reuters measure of consumer sentiment for January showed a fall to 80.4 from 82.5 in December.
Earlier, the Commerce Department said construction on new U.S. homes dropped 9.8% in December to a seasonally adjusted annual rate of 999,000, though home-construction starts for all of 2013 reached 923,000, the highest annual rate since 2007.
Traders mulled the data’s impact on the prospects for energy demand but on the upside for prices, the Organization of the Petroleum Exporting Countries forecast on Thursday that global oil continued.
Looking to keep adding over the few trading sessions
SARA is oversold by almost every technical measure ,when you add in the news regarding the recent refinance and the third party estimate on the reserves this stock could have a nice bounce imo, especially if they are able to come to terms with a joint venture partner on some of their projects. I will be adding on my position over the next few days. Best of luck to all traders and investors.
Best of luck to all traders and investors.
Morning Buzz: Sirius XM Holdings Inc. (NASDAQ:SIRI), Neuralstem, Inc.(NYSEMKT:CUR), Peregrine Semiconductor Corp(NASDAQ:PSMI)
By Jill Farley • January 3, 2014 •
Peregrine Semiconductor Corp(NASDAQ:PSMI) shares spike, possibly helped by a bullish thesis (under embargo until 9:45am ET tomorrow) by SA Pro’s Ashraf Eassa, who thinks that the struggling RFIC manufacturer may have reached a bottom in the mid $7′s.PSMI shares “have a pretty solid path into the $9.50-$10 range where the shares traded before the news of the iPhone socket loss hit” after a number of struggles have been priced in and 2 forthcoming catalysts should propel shares up.
PSMI could be forming a bottom on the Daily and Weekly charts .
If you get a chance to read the last CC call on Seeking Alpha the company is rolling out new products , and they have been investing in R&D to stay competitive. Their products are being applied to a variety of industries.