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Crude prices higher after the EIA oil inventory report

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Posted by Futures - Stock Commodity Options & Forex Strategy

on Wednesday, 21 September 2016 10:41

The energy complex are trading higher after the EIA released its latest weekly oil inventory report. The data showed Total Crude & Product stocks decreased by 6.034/mmbls to 1390.917/mmbls for week ending Sept. 16. Looking at the year-on-year for Total Crude & Product stocks we see we are now 93.2/mmbls above last year’s level for this time of the year and above the five-year average by 242.9/mmbls.

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Energy Curiosities: September 2016 Update



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Energy & Commodities

Energy Curiosities: September 2016 Update

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Posted by Bob Hoye - Institutional Advisors

on Monday, 19 September 2016 06:36

An Ongoing Photo Essay

Lately, Canada’s energy markets have become even more curious.

The West Coast pipeline is protested because it would increase oil tanker traffic on the pristine Pacific Ocean.

The pipeline to the East Coast is protested, despite that it would reduce the number of oil tankers on the pristine Atlantic Ocean.

42548 a

"TransCanada Corp launches US $15 billion lawsuit against U.S. government for rejecting Keystone XL"

- Financial Post, January 6, 2016.

America's Worst President Shuts Hown Keystone Pipeline

During Obama's term the U.S. constructed some 10,000 miles of pipeline.

Wind Turbines 1980's: Admired



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Energy & Commodities

Geopolitical Oil Glut: What Happens When Libya Exports 600,000 bpd in 4 Weeks?

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Posted by OilPrice.com

on Thursday, 15 September 2016 07:34

oil5TRIPOLI—Only a day after the head of the Libyan National Army (LNA) took over Libya’s key oil ports to the dismay of Western powers trying to gain support for a Government of National Accord (GNA), the recently reunified National Oil Corporation (NOC) of Libya has announced that it will start exporting 600,000 barrels of oil per day in just four weeks.

Late last night, the NOC also announced that it will ramp up production and exports to 950,000 barrels per day before the end of the year. That’s up from the approximately 250,000 bpd the country is exporting right now.

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The Next Sector To Recover From The Oil Price Crash



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Energy & Commodities

The Next Sector To Recover From The Oil Price Crash

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Posted by Zainab Calcuttawala for Oilprice.com

on Friday, 09 September 2016 06:30

sfresampler.aspxOilfield services, shipbuilders and other industries that rose with the pre-2014 oil price boom have had it hard. Since barrel rates fell, their previous patrons have become uninterested in doling out major purchase orders, leaving oil and gas equipment manufacturers without revenues.

A recent report by Arkansas Online says the energy industry's support sector could feel the effects of low oil prices for up to two years after the current bear market recovers.

"When oil gets good again we will be the last to get back to work" because half the fleet available is not currently in use, Vance Breaux Jr., a boat manufacturer from Louisiana, said.

Louisiana's rig count has shrunk to 35 active sites as of last week – down 40 from the same time last year, according to Baker Hughes latest report on the matter.

Currently, Breaux and his industry compatriots lack diversification in their client profile. Production sites with easy-to-reach oil and gas deposits are running out in Louisiana, but the weak investment climate prevents energy firms from starting new projects, making it difficult for equipment manufacturers to generate revenues.

In other parts of the country, bargain hunters are snagging expensive oil and gas equipment at auctions for a fraction of their original cost.



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Energy & Commodities

Fundamentals for Uranium Look Great; Is the Uranium Market Ready to Soar?

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Posted by Sol Palha - Tactical Investor

on Tuesday, 30 August 2016 07:06

"A genius can't be forced; nor can you make an ape an alderman." ~ Thomas Somerville

By any estimate, the uranium market is trading in the extremely oversold ranges, but when the trend is down, a market can trend into the extreme of extremely oversold ranges, and we have seen this occur many times in the past. The 15-year chart illustrates that the next layer of support comes into play in the $21.50-$22.00 ranges, so despite being extremely oversold the market still has room to trend lower. One positive is that the trend is about to turn neutral and if it does it would be the first move into the neutral zone in a very long time.

Uranium

Screen Shot 2016-08-30 at 7.06.07 AM

Taking a long-term view; a monthly close above $35 would be needed to indicate that a multi-month bottom is in place. From a contrarian perspective, uranium would start to look quite tempting at any level below $23.00.



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