Oil & Energy

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U.S. oil rigs in service rose 7 this week as U.S.as  oil production fell off its all time high of 11 million bpd. US Natural gas wells were unchnaged, Canadian oil wells added 15 back. Bottlenecks remain in the Midland Texas area.

The EIA reported an as expected build of +69 Bcf in natural gas storage last week. Prompt Henry Hub Futures have been falling since  Hurricane Gordon path from the Gulf of Mexico. Meanwhile Mexican exports near record high as we watch LNG shipments. 

EIA reported a large draw in crude oil inventories but less than API. Both gasoline and distillates showed bigger builds with production falling from all time highs last week. With hurricane Florence hitting the EastCoast gasoline and the cracks are in focus.

U.S. oil rigs in service fell two this week as U.S. oil production remained at an all time high of 11 million bpd. Canadian oil wells fell 18. Bottlenecks remain in the Midland Texas area.

EIA Inventory reported a larger draw in crude oil inventories but both gasoline and distillates showed bigger builds with production staying at all time highs. With Gordon hitting the Gulf Coast and refineries Gasoline and the cracks are in focus.

The EIA reported an as expected build of +63 Bcf in natural gas storage last week. Prompt Henry Hub Futures have been falling since  Hurricane Gordon path from the Gulf of Mexico. Meanwhile Mexican exports near record high but LNG lower this week. 

Energy Transfer Partners on Friday asked FERC to approve the startup of the final two laterals on its 3.25 Bcf/d Rover natural gas pipeline. $ETP seeks to create additional capacity to meet downstream demand stranded in the Applachian Basin.

U.S. oil rigs in service rose two this week as U.S. oil production remained at an all time high of 11 million bpd. Canadian oil wells fell 2 to offset. Bottlenecks remain in the Midland Texas area.

The EIA reported a higher than expected build of +70 Bcf in natural gas storage last week. Prompt Henry Hub Futures fell off on the report. Meanwhile Mexican exports are hitting a record high but LNG was lower this week. 

EIA Inventory reported a larger draw in crude oil inventories this week. Both gasoline and distillates showed bigger draws with production at all time highs. 

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