Oil & Energy

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The EIA Inventory report showed a suprise build in crude stockpiles and in Gasoline last week. Behind the storage noise is a shifting geopolitical risk matrix adding to uncertainty with Iran, Syria, Russia and Chinese trade tensions which is unsettling financial markets.

The Australian government revised up Australia's LNG export price for the current and next fiscal years in it's latest Resources and Energy Quarterly forecast. LNG is forecast to overtake metallurgical coal as Australia’s second largest resource and energy export.

Crude prices remain steady and U.S. oil production keep rising with oil rigs gaining another 8 rigs this week to 808 oil rigs. This week's DoE Petroleum Status Report showed all time high oil output as worries of a trade war rings out.

The EIA reported a natural gas storage draw of -29 Bcf After Reclassification from - 20 Bcf less than expectations with futures continuing to listlessly drift sideways.  With cold still hanging around up East it's around 3 weeks in the heating season.

The EIA Inventory report showed a suprise draw in crude stockpiles and in Gasoline with a large rise in Cushing inventories. Behind the storage noise is a shifting geopolitical risk matrix adding to uncertainty with Iran and Chinese trade tensions.

Gulf State Bahrain announced on Wednesday it has made its biggest oil discovery in 86 years, an estimated 80 billion barrels of shale oil and estimated 13.7 trillion cubic feet of gas. The discovery was made Sunday off the islands west coast.

Australia’s energy sector has been continuing to work towards on demand response and energy efficiency. This shift from the 'old ways' buoys well for avoiding the mistakes made by Germany, the world leader in renewables.

Countries around the world store oil for times of crisis and price bumps, the idea is store it and use it in emergency. What if that oil is not usable, if it is contaminated? Three buyers from the US Strategic Petroleum Reserve say just that, from oil bought last year from the SPR.

The EIA reported a natural gas storage draw of - 63 Bcf right less than expectations with futures continuing to listlessly drift sideways.  With cold still hanging around up East it's around 4 weeks in the heating season. 

The Dominion Atlantic Coast natural gas pipeline is on schedule for late 2019 Dominion Energy said. The $5 billion pipleine runs from West Virginia to North Carolina. Yesterday FERC denied Dominion’s March 15 request for more time to cut trees.

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