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While oil prices are tumbling, Goldman Sachs is confident that global markets remain tight and that a moderate production boost from OPEC will not change the fundamentals of today’s supply deficit
Greece’s withering economy could use the extra income from oil & gas production, but so far, the country has only seen a few exploration successes
The world’s soon-to-be top liquefied natural gas exporter is looking to import fuel due to a looming gas shortage which could threaten its growing market share
BP has seen steady growth of late, led by better price realizations for its upstream business. Oil prices have moved this year amid lower inventory levels due to OPEC production cuts, as well as other geopolitical factors. 2017 was a good year for oil companies, as growth in benchmark crude prices boosted their margins.
As we saw in the previous part of this series, Southwestern Energy’s (SWN) stock price increased ~6.0% for the week ended June 15. During the week, natural gas (BOIL) prices rose 5.0%. So, SWN’s stock price outperformed natural gas prices last week. In this part, we’ll look at the correlation between SWN stock and natural gas prices.
Investing.com - Oil prices saw mixed signs in midmorning trade on Tuesday as disagreements among major producers over output curbs continued ahead of a key meeting in Vienna on Thursday and Friday.
July WTI crude oil futures were trading above their 100-day and 200-day moving averages of $65.46 per barrel and $60.36 per barrel, respectively, on June 18. These levels could be key support levels for WTI oil prices.
According to Bloomberg, the crude oil production from OPEC and non-OPEC producers is expected to increase by 300,000 bpd–600,000 bpd (barrels per day) in OPEC’s upcoming meeting. The possibility of a lower hike in crude oil production from OPEC and Russia supported oil prices on June 18. Russia proposed a combined production increase of 1,500,000 bpd.
The S&P 500 fell ~0.21% to 2,773.75 on June 18. Trade wars between the US and China pressured the S&P 500 on the same day. However, increased crude oil prices and energy stocks helped the S&P 500 rebound from the day’s low. Seven out of the ten key sectors in the S&P 500 declined on June 18.
The S&P 500’s top gainers on June 18 were: Cimarex Energy (XEC) gained 5.7%. Advanced Micro Devices (AMD) gained 4.7%. Noble Energy (NBL) gained 3.4%. Newfield Exploration (NFX) gained 3.1%. CF Industries Holdings (CF) gained 3.1%. Cimarex Energy
With growing Permian production and infrastructure constraints, the Midland-WTI crude oil price differential and the Waha–Henry Hub natural gas price basis differential have widened since the beginning of 2018.
U.S. petroleum company Anadarko has placed staff working at its liquefied natural gas plant in northern Mozambique under "lock-down" due to the threat from suspected Islamist militants in the ...
Silver markets were very choppy during the trading session on Monday, as we returned from the weekend. We are sitting above the vital $16.50 level and catching her breath after a major meltdown on Friday. So the question now is whether we get more of the same selling pressure, or are we trying to find our footing?
Crude oil markets turned around significantly during the day on Monday, as we have seen support command just below the uptrend line that had to find the market for so long. As we await the crucial Friday OPEC meeting, it makes sense that there is a certain amount of volatility.
Natural gas markets start out the week rather soft, losing 1% initially, but is starting to show signs of support again at the 50 EMA on the hourly chart. The market has recently broken above the vital $3.00 level, which of course has a certain amount of psychological importance.
SINGAPORE (Reuters) - ExxonMobil's Papua New Guinea liquefied natural gas (LNG) export plant has offered a cargo for July delivery, two industry sources said on Tuesday. The cargo is being offered on a ...
Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico. There have been nearly 21,000 requests overall for exclusions submitted to the U.S. Commerce Department since the Trump administration imposed levies this year. Initial decisions are expected this month, offering the first clues as to how the administration will balance an agenda favouring oil and gas exports while also supporting the U.S. steel and aluminium industries.
ExxonMobil's Papua New Guinea liquefied natural gas export plant has offered a cargo for July delivery, two industry sources said on Tuesday. The cargo is being offered on a delivered ex-ship or free-on-board ...
ExxonMobil PNG (XOM.N) said on Tuesday it was investigating reports of vandalism on its Angore gas pipeline construction project in Papua New Guinea, amid ongoing tension in the Highlands region of the South Pacific nation. Papua New Guinea security forces are in the area and are also investigating, ExxonMobil PNG, a wholly owned unit of ExxonMobil Corp (XOM.N), said. "We are investigating reports of vandalism relating to the Angore pipeline construction project," an ExxonMobil spokeswoman said in emailed comments.
ExxonMobil PNG said on Tuesday it was investigating reports of vandalism on its Angore gas pipeline construction project in Papua New Guinea, amid ongoing tension in the Highlands region of the South Pacific nation. Papua New Guinea security forces are in the area and are also investigating, ExxonMobil PNG, a wholly owned unit of ExxonMobil Corp, said.
Equinor's (EQNR) equity production in Brazil increase by around 150% after acquiring interests in Petrobras-operated Roncador field.
LNG spot prices in Asia spiked to four-year highs on the back of increased competition from Mexico and Egypt which are among the most affected by global supply outages
Momentum is neutral as the MACD (moving average convergence divergence) histogram is printing near the zero-index level with a flat trajectory which reflects consolidation. Net injections into storage totaled 96 Bcf for the week ending June 8, compared with the five-year average net injection of 91 Bcf and last year’s net injections of 82 Bcf during the same week. Net injections averaged 13.7 Bcf per day.
Baker Hughes, a GE Company (BHGE), released its weekly US natural gas rig count report on June 15. Baker Hughes reported that the US natural gas rig count fell by four to 194 on June 8–15—the lowest level since April 13. However, the rigs increased by eight or ~4.3% from a year ago.
Hedge funds increased their net bullish positions in US crude oil futures and options 0.5% to 315,063 on June 5–12. The positions increased by 119,765 contracts or 61% from a year ago. The US Commodity Futures Trading Commission released the data on June 15.