Sunday, December 22, 2024
U.S. enters winter with highest natural gas stocks in eight years- oil and gas 360

U.S. enters winter with highest natural gas stocks in eight years

(Oil Price) – U.S. natural gas inventories are higher than average for this time of the year as America has entered the proper winter heating season with stocks at their highest level since 2016, the Energy Information Administration (EIA) said on Monday. Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet

Oil rises on Chinese data, Middle East tensions- oil and gas 360

Oil rises on Chinese data, Middle East tensions

(Investing) – HOUSTON – Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand, and as escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire deal, spurred supply concerns. Brent crude futures climbed 36 cents, or 0.49%, to $72.20 a barrel by 10:44 a.m. EST (1544 GMT) while U.S. West

A Thanksgiving Perspective- What a difference a decade makes- oil and gas 360

A Thanksgiving Perspective- What a difference a decade makes

(Oil & Gas 360)- It was Thanksgiving Day 2014 when the U.S. oil industry was confronted with its biggest challenge in decades following Saudi Arabia’s attempt to leverage an oil glut of the time to preserve market share while squeezing American oil producers with their higher cost structure. The ploy worked…for a while. Not only did oil prices fall more

Energy Market Assessment: The fast jump in natural gas prices determining who gets it- oil and gas 360

Energy Market Assessment: The fast jump in natural gas prices determining who gets it

(Oil & Gas 360) – The Fast Jump In Natural Gas Prices Determining Who Gets It In A Market Viewed As Well Supplied Highlights Supply/Demand, Consensus-Beating Tight. While natural gas inventory declined 3 Bcf last week, 3,969 Bcf, 3rd highest in 31 years and only 77 below the record high is helping pretty much all be bearish, believing supply is plentiful.  Yesterday

Note on the news: The Wright energy transition- oil and gas 360

Note on the news: The Wright energy transition

(Oil & Gas 360)– Jaguar just released an ad for their new electric vehicle which must rank as the new standard for weirdness.  It just might exceed the Bud Light ad for brand destruction.  Too bad.  Another sacrifice on the woke altar.  Did Jag not get the memo from Mercedes, Ford, and Volkswagen about sales volumes? The much-talked-about but not-much-done-about Energy

Goldman Sachs: OPEC+ cuts provide near-term upside to oil prices- oil and gas 360

Goldman Sachs: OPEC+ cuts provide near-term upside to oil prices

(Oil Price) – The ongoing OPEC+ oil production cuts and the improved compliance with quotas from some producers are supporting Brent Crude, offering a modest upside to oil prices in the near term, according to Goldman Sachs. The U.S. investment bank expects the OPEC+ cuts to be rolled over again and the easing of the output curbs could begin gradually in

Empire Petroleum doubles revolver loan commitment to support North Dakota production- oil and gas 360

Empire Petroleum doubles revolver loan commitment to support North Dakota production

(World Oil) – Empire Petroleum Corporation announced that it has entered into an amendment to its Revolver Loan Agreement with Equity Bank, increasing the total principal commitment to $20.0 million, up from an initial $10.0 million through December 29, 2026. Currently, Empire has approximately $8.4 million borrowed on the $20.0 million facility. The loan is secured by assets from two of

Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs- oil and gas 360

Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs

(Investing) – SINGAPORE/LONDON -Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said. Two sources familiar with Trump’s plan told Reuters that oil would not be exempted from potential tariff hikes on imports

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 1.8 million barrels

Weekly Crude Oil Storage as of November 22, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.8 million barrels from the previous week.  At 428.4 million barrels, U.S. crude oil inventories are 5% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,

COP 29 sends Santa its list- oil and gas 360

COP 29 sends Santa its list

(Oil & Gas 360) – With slightly less than a month left before his annual global night of magic, Santa received a lengthy Christmas list after this year’s COP 29 climate action conference in Azerbaijan. The group and the International Energy Agency (IEA) have cited five key areas.  They look to triple renewable energy capacity while doubling energy efficiency. Another major

University of Oklahoma awarded $18.7M grant by DOE for subsurface carbon storage- oil and gas 360

University of Oklahoma awarded $18.7M grant by DOE for subsurface carbon storage

(World Oil) – A team of researchers from across the University of Oklahoma Mewbourne College of Earth and Energy, Los Alamos National Laboratory, with industry partners, have been awarded an $18.7M grant from the U.S. Department of Energy to investigate commercial subsurface storage of carbon dioxide (CO2). The project, the Oklahoma Carbon Hub, will investigate three separate sites in Osage

Oil producers balk at team Trump’s tariff plan for Canadian imports- oil and gas 360

Oil producers balk at team Trump’s tariff plan for Canadian imports

(Oil Price) – When Donald Trump floated the idea of slapping 25% tariffs on Canadian and Mexican imports, it was more than just a shot across the bow—it was a cannonball aimed squarely at North America’s deeply entwined trade ecosystem. U.S. oil producers are warning that a tariff on heavy oil imported from Canada would raise consumer prices at the pump.