Oil & Energy

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This week's EIA Inventory report on Wednesday showed a surprise build in Crude, Gasoline and Cushing storage. This comes with crude speculators showing record length. Add this to a shifting geopolitical risk matrix for this week's storage report.

CenterPoint and Vectren Corporation announced a definitive merger agreement combining $29 billion in assets across eight states with an enterprise value of $27 billion. To be known as Centerpoint Energy maintaining earnings guidance. 

Crude prices scorched to 4 year highs this week with Saudi hoping for $100 oil. Oil rigs gained another 5 rigs this week to 820 oil rigs. This week's DoE Petroleum Status Report showed all time high oil output as Russia, OPEC and Syria overhang.

The EIA reported a natural gas storage draw of -36 Bcf this week with futures continuing to listlessly drift sideways.  With cold still hanging around up East it's around 2 weeks in the heating season.

This morning WTI prompt futures traded over $68 bbl, the highest in over 3 years on news Saudi Arabia wants crude at $80 and then $100 a barrel. The clear winner here is American shale producers and exporters should this all happen.

This week's EIA Inventory report on Wednesday is straddled by options expiration on Tuesday and futures expiration Friday. Add this to a shifting geopolitical risk matrix for this week's storage report.

Crude prices remain at 3 year highs and U.S. oil production keeps rising with oil rigs gaining another 7 rigs this week to 815 oil rigs. This week's DoE Petroleum Status Report showed all time high oil output as worries of a trade war and Syris rings out.

The EIA reported a natural gas storage draw of -19 Bcf this week with futures continuing to listlessly drift sideways.  With cold still hanging around up East it's around 2 weeks in the heating season.

New Zealand's Prime minister Jacinda Ardern announced Thursday no further offshore oil and gas exploration permits will be granted committing to a clean energy future. Existing permits remain unaffected.

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.

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