Oil & Energy

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EIA reported a huge build in crude oil with a small draw in gasoline inventories this week.  Production was unchanged at an all time high. However the chatter is Iran and OPEC+ and $100 oil prices getting the punter all in.

U.S. oil rigs in service fell 3 this week as U.S.hit record oil production of 11.1 million bpd again. US Natural gas wells rose 3. Bottlenecks remain in the Midland Texas area.

The EIA reported a lower than expected build of +46 Bcf in natural gas storage last week. Prompt Henry Hub Futures rose sharply this week on Nukes and weather, pulling back on expiration. Meanwhile Mexican exports near record high as we watch LNG shipments. 

EIA reported a build in crude oil and gasoline inventories this week.  Production rose to an all time high. All the chatter is Iran and OPEC+ but what about the Permian?

The next OPEC+ meeting in Algiers on September 23 comes at a critical time with a trade war in affect, Iran sanctions about to come on and the U.S. sitting just under record productions and exports. All eyes are on Russia and Saudi Arabia and of course US Production.

Solar farms have been more costly to deliver electricity than natural gas or coal because of the cost of storage and downtime at night, However that is changing with the falling cost of batteries a recent report shows.

U.S. oil rigs in service fell 1 this week as U.S.hit record  oil production of 11 million bpd again. With reallocation 6 rigs were added back in Texas, 5 in the Permian basin. US Natural gas wells were unchanged. Bottlenecks remain in the Midland Texas area.

The EIA reported an as expected build of +86 Bcf in natural gas storage this week. Prompt Henry Hub Futures rose sharply this week on Nukes and weather. Meanwhile Mexican exports near record high as we watch LNG shipments. 

EIA reported a draw in crude oil and gasoline inventories this week.  However production rose back to an all time high. With hurricane Florence remnants  gasoline and the cracks are in focus.

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.

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