Currently viewing the tag: "Phil Flynn"

As OPEC meets in Vienna,there is more evidence that the global oil market balance is underway, even as unbalanced North Korean Leader Kim Jong Un threatens to set off a hydrogen bomb. The oil market is waiting on OPEC and non-OPEC to give a signal about the future direction of oil production. Talk of an […]

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[Ryan Collins and Brian K Sullivan, Bloomberg] The U.S. Midwest is sizzling and it’s taking all the natural gas it can get from Western Canada to keep cool. Gas flows to the region increased 7 percent in the last week, reaching 1.7 billion cubic feet a day on Thursday, the most since May 13. That […]

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Oil Futures Up on EIA Data, OPEC Talk

On September 20, 2017 - 5:40 PM By

[George Orwel, DTN] New York Mercantile Exchange spot-month oil futures rallied Wednesday afternoon, with October West Texas Intermediate crude oil settling above $50 per barrel (bbl) and at the highest level in four months, powered by bullish weekly U.S. oil data and on the prospect of prolonged cuts to oil production by the world’s leading […]

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Oil prices are rising on bullish supply data from the American Petroleum Institute (API) and talk that the joint OPEC/non-OPEC Ministerial Monitoring Committee (JMMC) on Friday might set the stage for an extension of the existing production cut agreement as compliance with the current deal is starting to improve. Yet behind the supply and demand […]

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Refiners on the Run. The Energy Report 09/19/17

On September 19, 2017 - 8:17 AM By

Oil prices are rising on hopes that Hurricane Jose will not do any damage to East Coast refiners that are running hot and heavy to make up for lost supply from Gulf Coast refiners that were hit hard by Hurricane Harvey. Refiners are already having success with getting gasoline prices to fall but there is […]

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Hurricane activity and a big drop in U.S. rig counts will force traders to look at forces that may hit both supply and demand. Hurricane Jose threatens the East Coast from Delaware to Massachusetts, mainly demand but some refineries. Hurricane Maria also poses a threat to the Virgin Islands and is a dangerous storm as […]

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Hurricane Pain. The Energy Report 09/07/17

On September 7, 2017 - 8:05 AM By

Almost all global markets seem to be transfixed on Hurricane Irma that could wallop Florida with an unprecedented and merciless blow and have an impact on many lives as well as the U.S. and global economy. Fox News reported that France’s interior minister on Thursday said the category 5 storm killed at least eight and […]

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In Harm’s Way. The Energy Report 09/06/17

On September 6, 2017 - 8:00 AM By

The strongest hurricane ever recorded in the Atlantic is promising catastrophic destruction for everything in its path. Hurricane Irma’s impact of financial and commodity markets could be far-reaching and we offer prayers for everyone who is harm’s way. To add to the oil market worries, we now have Tropical Storm Katia that has formed in […]

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Oil prices are on the rise as US refiners come back after Hurricane Harvey and a big jump in geo-political risk as North Korea unleashes an alleged hydrogen bomb. The oil industry must watch the weather again as Hurricane Irma has turned into a massive and dangerous category 5 storm. On top of that there […]

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Wavering Wavers. The Energy Report 09/01/17

On September 1, 2017 - 8:20 AM By

After yesterday’s RBOB gasoline futures expiration blow out, the Trump Administration is pulling out all the stops to try to reduce shortages of gasoline and try to calm down soaring prices. Driven by massive refinery outages and fears of deliverable supply, gas was on high-octane. The September RBOB gasoline futures surged at one point higher […]

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[Myra P. Saefong & Sara Sjolin, MarketWatch] WTI oil rallies for the session, but loses about 6% for the month. The October contract for WTI crude saw about a slide of 5.9% in August, according to Dow Jones data, while Brent lost 0.5% for the month. Crude got a boost Thursday with the assumption that […]

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Nightmare. The Energy Report 08/31/17

On August 31, 2017 - 8:22 AM By

A shut down of the Colonial Pipeline in addition to the Explorer Pipeline and an explosion at a chemical plant is adding to the heartbreaking human suffering that is being experienced along out nations Gulf Coast. There are reports over night of two explosions at Arkema chemical plant in Crosby, Texas, that was caused by […]

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