Oil & Energy

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For the last week EIA reported a draw in crude of -994kbbl (including-1517kbbl draw at Cushing). Gasoline grew +4467kbbl and a draw with distillate -9kbbl. US production held at 10900 kbpd, still off record high of 13.10 mbpd. WTI oil futures hover below the highest prices since in a year over $56bbl

Henry Hub natural gas futures floundered after a near expected draw of -128 Bcf in gas storage last week and demand changes as winter takes hold. The focus is on the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

EIA reported a huge draw in crude of -9910kbbl (including-2281kbbl draw at Cushing. Gasoline grew +2469kbbl and a draw with distillate -815kbbl. US production fell 100kbpd to 10900 kbpd, still off record high of 13.10 mbpd. Oil Futures hover below the highest prices since March 2020. 

EIA reported a build in crude of +4351kbbl including-4727kbbl draw at Cushing. Gasoline drew -260kbbl and a build with distillate +458kbbl. US production unchanged at 11000 kbpd, still off record high of 13.10 mbpd. Refinery Utilization +0.5% to 82.5% Exp +0.4%

Henry Hub natural gas futures floundered after a near expected draw of -187 Bcf in gas storage last week and demand changes as winter takes hold. The focus is on the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

BHP continues to write down it's fossil fuel assets cutting up to $1.6 billion from the value of its Mt Arthur thermal coal mine in the Hunter Valley. BHP sold its U.S. shale assets to Britain's oil major BP for $10.5 billion in 2018 selling off "non-core and we are actively pursuing options to exit these assets for value".

Environmental and Byproduct services provider Charah Solutions was awarded a marketing contract by Dominion Energy $D for the beneficiation and utilization of up to 8.1 million tons of reclaimed ponded coal ash. $CHRA opened up over 20% on the announcement.

Heading into the winter 2001 natural gas futures have bounced after a smaller draw than expected of -134 Bcf in gas storage last week and demand changes as winter takes hold. The focus is on the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

The OPEC Monthly Oil Market Report (MOMR) for  January released Thursday provides OPEC's outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply.

WTI Futures traded over $53 bbl ahead of  EIA reporting a draw in crude of -3247kbbl including-1975kbbl draw at Cushing. Gasoline grew +4395kbbl and a build with distillate +4786kbbl. US production unchanged at 11000 kbpd, still off record high of 13.10 mbpd. Oil Futures reached the highest prices since March 2020. 

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