Oil & Energy

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With the Artic Blast hitting Texas WTI oil futures hover at the highest prices in over a year. EIA reporting a draw in crude of -7258kbbl (including-3028kbbl draw at Cushing). Gasoline grew +672kbbl and a draw with distillate --3422kbbl. US production fell 200kbpd to 1080000 kbpd, still off record high of 13.10 mbpd.

Extreme weather hit the US this past week, with basis settlements for the weekend showing extreme price squeezes. Henry Hub natural gas futures show little fear after a less than expected draw of -237 Bcf in gas storage last week and demand changes as the polar vortex takes hold. The focus is on the coronavirus effect on reopening, LNG and Mexican exports and the extreme winter outlook for the US.

Henry Hub natural gas futures fell after a less than expected draw of -171 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 February 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.

For the last week EIA reported a draw in crude of -6645kbbl (including-658kbbl draw at Cushing). Gasoline grew +4259kbbl and a draw with distillate -1732kbbl. US production rose  100kbpd to 11000 kbpd, still off record high of 13.10 mbpd. WTI oil futures hover at the highest prices in over a year, beyond $58bbl

Henry Hub natural gas futures floundered after a near expected draw of -192 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.

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%

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