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Rigs and Rain. The Energy Report 4/29/16

On April 29, 2016 - 9:28 AM By

Oil prices continue to rise as the market prepares for another drop in the U.S. rig count and floods in the Gulf of Mexico could slow U.S. oil imports. This comes as Exxon Mobil and Chevron report earnings and no doubt more capital spending cuts in a historic retrenchment in the oil complex. Gulfport, Mississippi […]

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Oil Rush. The Energy Report 4/28/16

On April 28, 2016 - 7:25 AM By

Oil prices surged again as U.S. oil production fell for the seventh week in a row and global central bankers seem a little more upbeat. With the Federal Reserve changing the wording removing “risks” from their statement and Japan’s central bank holding fire, the demand expectations have changed dramatically from just a few months ago […]

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Oil Sets Another 2016 High

On April 27, 2016 - 2:26 PM By

By Christian Berthelsen and Georgi Kantchev  U.S. oil prices set another 2016 high Wednesday, even after U.S. data revealed a jump in stored domestic crude stockpiles. Weekly data from the U.S. Energy Department showed an increase in stored supplies of nearly 2 million barrels. The U.S. contract dropped more than 2%, falling into negative territory […]

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Exxon Mobil saw its credit rating cut by S&P for the first time since the Great Depression and it is another sign that oil prices have bottomed. Exxon Mobil Corp. lost its AAA rating and saw it lowered to AA+. Even the biggest of “big oil” cannot escape the fallout from the global oil price […]

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 By Christine Buurma  Forecasts for fading heat in the eastern and central U.S. sent natural gas futures lower for a second day. Temperatures will be mostly average or below normal in the lower 48 states next week as hot weather in the South ebbs, curtailing gas consumption by electricity generators, according to Commodity Weather Group […]

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Balancing Act. The Energy Report 4/26/16

On April 26, 2016 - 7:59 AM By

Oil prices are trying to stabilize as traders and oil companies try to predict when oil production will find equilibrium with demand. Here there is a wide degree of different thinking on this issue but I predict it will happen much sooner than people think. We’re faced with massive cap x cuts and plunging rig […]

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by Mark Shenk Oil fell from a five-month high in New York amid signs a global glut will be prolonged as Middle East producers boost supplies. Kuwait plans to expand oil production to more than 3 million barrels a day by June, doubling output from where it stood during last week’s oil-worker strike. Iran has increased output […]

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NEW YORK | BY JARRETT RENSHAW U.S. motor travel surged at a record pace in February as Americans took to the road again after January’s historic snowstorms, U.S. data released on Monday showed, fueling optimism about gasoline demand as refiners brace for the busy summer driving season. U.S. motorists logged 232.2 billion miles, the most for any February […]

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Oil Declines on Inventories Forecast

On April 25, 2016 - 2:26 PM By

By Christian Berthelsen and Miriam Malek Oil prices sold off Monday after a private data forecaster reported a jump in stored supplies at the main delivery hub in the U.S. The market chopped around much of the morning in directionless trading, but turned decisively negative after Genscape released a weekly report showing oil inventories in […]

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Oil Declines on Inventories Forecast

On April 25, 2016 - 1:52 PM By

By Christian Berthelsen and Miriam Malek Oil prices sold off Monday after a private data forecaster reported a jump in stored supplies at the main delivery hub in the United States. The market chopped around much of the morning in directionless trading, but turned decisively negative after Genscape released a weekly report showing oil inventories […]

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NEW YORK | BY JARRETT RENSHAW U.S. motor travel surged at a record pace in February as Americans took to the road again after January’s historic snowstorms, U.S. data released on Monday showed, fueling optimism about gasoline demand as refiners brace for the busy summer driving season. U.S. motorists logged 232.2 billion miles, the most for any February […]

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Big Oil Bust. The Energy Report 4/25/16

On April 25, 2016 - 8:16 AM By

Big oil is not as big as it used to be. Big oil gets ready to report earnings later this week and it’s looking like it’ll be ugly. The historic first quarter energy bust will cut revenues and profits as it forced big oil to slash exploration budgets and proven reserves. The backlash from investors […]

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