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- Category: Oil & Energy
U.S. oil rigs in service rose 4 this week to a new cycle high as U.S.oil production fell to 10.90 million bpd due to hurricanes. US Natural gas rigs also rose. Oil rigs fell in Canada. Bottlenecks remain in the Midland Texas area.
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The EIA reported a build of +81 Bcf in natural gas storage this week. Prompt Henry Hub Futures have traded over $3.30 in the front on colder weather. Meanwhile Mexican exports near record high as we watch LNG shipments.
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- Category: Oil & Energy
EIA reported another huge build in crude oil and a draw in gasoline inventories last week. Production fell however from an all time high. The stand out was exports fell 30% while imports rose.
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- Category: Oil & Energy
>U.S. oil rigs in service rose 8 this week as U.S.rose to another record oil production of 11.2 million bpd again. US Natural gas rigs also rose. Oil and gas rigs both rose in Canada. Bottlenecks remain in the Midland Texas area.
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- Category: Oil & Energy
EIA reported another huge build in crude oil and a build in gasoline inventories this week. Production was higher again at an all time high. However the chatter is OPEC forecasting even higher shale production.
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- Category: Oil & Energy
The EIA reported a near expected build of +90 Bcf in natural gas storage last week. Prompt Henry Hub Futures rose sharply this week to $3.26 in the front fell on the report to 3.13. Meanwhile Mexican exports near record high as we watch LNG shipments.
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The OPEC Monthly Oil Market Report (MOMR) for October 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.
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- Category: Oil & Energy
Both the U.S. and Iran are in a tight spot with Iran's imploding economy and impending isolation oil prices have soared to 4 year highs. Iran plans to use private companies to counter sanctions. With high oil a risk to the global economy the US is considering waivers.
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U.S. oil rigs in service fell 2 this week as U.S.remained at record oil production of 11.1 million bpd again. US Natural gas were unchanged. Bottlenecks remain in the Midland Texas area.
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- Written by TradersCom
- Category: Oil & Energy
The EIA reported a higher than expected build of +98 Bcf in natural gas storage last week. Prompt Henry Hub Futures rose sharply this week to $3.26 in the front fell on the report to 3,13. Meanwhile Mexican exports near record high as we watch LNG shipments.
