Oil & Energy

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Shale play Devon Energy $DVN who is reporting second quarter earnings after the market close Tuesday announced they are selling Eagle Ford Assets in Lavaca County, Texas to Penn Virginia for $205 Million.

Energy company earnings kicked off this week with oil service giants $SLB & $HAL, Oil majors $XOM $RDG.A $COP and $CVX, Pipelines $TCP Natural gas $ECA $COP. Catch up on all the energy earnings you  may have missed.

As Oil rises so do rigs, Baker Hughes US oil rig count rose 2 rigs 766 from 764. Over the past few weeks we have seen a steadying of new oil rigs in the US. U.S. added 6 Natural gas rigs to 192 this week. Canada added another 14 rigs.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.

The TCOIL preview for this week's EIA DOE Weekly Petroleum Status Report highlights the key variable to watch out for. Crude oil markets are watching for production and product use with the all important import export trade.

WTI and Brent futures moved up around 80 cents after the latest OPEC meet and great headlines. One wonders what goes through the minds of OPEC, winding up their latest compliance meeting and same old mantras. 

Over the past few weeks we have seen a steadying of new oil rigs in the US as the oil price falls. Baker Hughes US oil rig count fell just 1 rig 764 from 765. U.S. Natural gas rigs also fell from 187 to 186 this week.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.

The TCOIL preview for this week's EIA DOE Weekly Petroleum Status Report highlights the key variable to watch out for. Crude oil markets are watching for production and product use with the all important import export trade.

Crude oil prices have languished either side of $46 on a quiet news day for it. We had Yellen schmoozing up the US stock markets to all time highs and another uneventful natural gas report from the EIA.

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