|Day's Range||56.94 - 57.49|
The crude oil markets have been very noisy over the last week, showing signs of both positive and negative momentum. I think there are a lot of questions when it comes to crude oil, as there are so many different factors moving the markets.
Inventories have been falling and oil prices rising consistently in the second half of this year, but the IEA has warned that trends will change in 2018
Oasis Petroleum (OAS) stock slumped following acquisition announcement as the investors were not pleased with the company's decision.
From December 7–14, 2017, XOP, XLE, AMLP, and OIH had correlations of 63.9%, 55.5%, 29.9%, and 19.2%, respectively, with natural gas January futures.
From December 7–14, 2017, the S&P 500 Index (SPY), the S&P Mid-Cap 400 Index (IVOO), and the Dow Jones Industrial Average Index (DIA) had negative correlations with US crude oil futures.
US natural gas (GASL) futures contracts for January delivery were below their 20-day, 50-day, and 100-day moving averages on December 14, 2017.
The EIA (U.S. Energy Information Administration) forecasts that US crude oil production will average 9.2 million barrels per day in 2017.
Baker Hughes estimates that the international natural gas rig count fell by 11 to 186 in November 2017—compared to the previous month.
With the increase in capital expenditure and production, cash flows in the Permian Basin are also expected to rise by 2021.
For the week ended December 2, 2017, coal production rose sharply to 15.7 MMst (million short tons) from 14.1 MMst in the previous week.
A growing number of oil tankers sit idle because no one authorizes payments. An alleged crackdown on graft in Venezuela, seen by critics as an effort by President Nicolas Maduro to consolidate power, has sown panic across the country's energy industry and all but paralyzed state-run Petroleos de Venezuela SA, or PDVSA, according to people at the company and across the sector. The ongoing purge, in which prosecutors have arrested at least 67 executives including two recently ousted oil ministers, now threatens to further harm operations for the OPEC country, which is already producing at near 30-year-lows and struggling to run PDVSA units including Citgo Petroleum, its U.S. refiner.
Investing.com - Crude prices were narrowly mixed on Friday with weekly US rig count data ahead expected to set the tone.
By Julia Simon NEW YORK (Reuters) - Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing U.S. output and weak gasoline demand kept a lid on gains. Brent crude futures settled down 8 cents or 0.1 percent to $63.23 a barrel. U.S. West Texas Intermediate (WTI) crude futures settled up 26 cents to $57.30 a barrel.
Natural gas has played a vital role in the global energy mix since the shale revolution and a renewed focus on climate change, but its future is far from certain
China’s crude oil imports from the US were the highest in November. In the past month, almost 289,000 barrels per day of US crude hit China’s shores.
Between March 3, 2016, and December 13, 2017, natural gas active futures rose 65.6%. On March 3, 2016, natural gas fell to a 17-year low.
In November, China’s crude imports rose to the second-highest level on record. In November, China’s crude oil imports were 37.04 million tons.
US crude oil production rose by 73,000 bpd (barrels per day) to 9,780,000 bpd on December 1–8, 2017, according to the EIA.
On December 8, 2017, the price of WTI crude oil was $57.36 per barrel. This price was nearly 2.0% below the price of $58.36 per barrel when the market closed on December 1.
According to EIA estimates, the natural gas inventory for the week ended December 1, 2017, is 3,695 Bcf (billion cubic feet). This reading is just 2 Bcf above the 3,693 Bcf recorded for the week ended ...