|Day's Range||3.262 - 3.285|
Oil prices remained firm this week, supported by political and military developments in the Middle East, but a major bullish catalyst remains absent
US natural gas consumption fell 0.17% to 57.1 Bcf/d (billion cubic feet per day) on October 12–18, 2017. It rose 3.1% from the same period in 2016.
US dry natural gas production will likely average ~73.6 Bcf/d in 2017. It will likely rise by 4.9 Bcf/d or 6.6% to 78.5 Bcf/d in 2018.
Baker Hughes will publish its weekly US oil and gas rig count report on October 19, 2017. The US natural gas rig count fell by two to 185 on October 6–13.
U.S. energy regulators will pay attention to natural gas supply issues in Southern California and New England this winter, but overall they do not see major factors that would lead to significant market disruptions. "Natural gas markets are entering this winter with a strong storage base and an expanding pipeline network that is delivering more supply to local markets and beyond," the U.S. Federal Energy Regulatory Commission's Office of Enforcement said in a report on Thursday. Aliso Canyon is a gas storage facility owned by Southern California Gas that shut following a leak in 2015.
Alaska is pursuing foreign investors for its oil and gas industry, hoping to advance recent discoveries while struggling to compete with lower-cost shale projects and reverse a decades-long output decline. Sovereign wealth funds, banks and state-owned energy companies have met with Alaskan officials, John Hendrix, chief energy adviser to Alaska Governor Bill Walker said in an interview. China Investment Corp (CIC) and state-owned Chinese energy company Sinopec held talks with state officials last month, he said.
Behold six glorious seconds of the most powerful natural-gas powered rocket engine you’ve ever seen: First hotfire of our BE-4 engine is a success #GradatimFerociter pic.twitter.com/xuotdzfDjF — Blue Origin (@blueorigin) October 19, 2017 This engine was built by Blue Origin, the space company owned and funded by Amazon founder and drone video enthusiast Jeff Bezos.…
November natural gas (UGAZ) (GASL) futures contracts trading in NYMEX rose 0.7% and closed at $2.87 per MMBtu on October 19, 2017.
The Zacks Analyst Blog Highlights: Royal Dutch Shell, Chevron, Cheniere Energy Partners, Petrobras and Tullow Oil
Between October 12 and October 19, 2017, the VanEck Vectors Oil Services ETF (OIH) had the highest correlation of 70.4% with US crude oil active futures.
U.S. West Texas Intermediate and international-benchmark Brent crude oil fell over 1 percent on Thursday as investors continued to book profits from the spike to the upside earlier in the week. December WTI Crude Oil settled at $51.51, down $0.75 or -1.44% and January Brent Crude Oil finished the session at $56.98, down $0.82 or … Continue reading Oil Price Fundamental Daily Forecast – Rangebound Trade Until OPEC Announces Production Cut Extension
___ Trump thinks GOP has votes for budget President Donald Trump says he thinks Senate Republicans have the votes for their budget — hours after tweeting his uncertainty. Trump needs the Senate to follow ...
As Iraqi-Kurds prepare to fight for their independence, the United States has pulled out of the Iran Nuclear Deal, creating a volatile situation for energy markets
Natural gas prices tumbled and then rebounded on Thursday as the Department of Energy released its natural gas inventory report which was broadly in line with expectations. Prices whipsawed lower hitting 2.77, but then bounced back to recover and upward sloping trend line that is seen as support near 2.82. Resistance is seen near the … Continue reading Natural Gas Price Analysis for October 20, 2017
In the week ended October 6, natural gas inventories rose by 87 Bcf (billion cubic feet) to 3,595 Bcf—13 Bcf more than the market expected inventories to rise.
Anadarko Petroleum’s production guidance for 3Q17 is 641 MMboe/d—compared to production of ~780 MMboe/d in 3Q16 and 631 MMboe/d in 2Q17.
Investing.com - U.S. natural gas futures initially extended losses in North American trade on Thursday, despite data showed that natural gas supplies in storage in the U.S. rose less than expected last week.
Investing.com - Crude oil prices turned lower on Thursday, as investors locked in profits from the commodity's recent climb sparked by upbeat U.S. inventory data and a sustained feeling that the market is rebalancing.