US Crude Stocks up, Product Inventories Fall -EIA
U.S. crude oil stocks unexpectedly rose last week, while gasoline and distillate product inventories dropped, the U.S. Energy Information Administration said on Thursday. Crude inventories were up 614,000 barrels in the week to Dec. 23, compared with expectations for a decrease of 2.1 million barrels.
Oil Down before U.S. Stockpile Data Report
U.S. crude stocks seen down for 9th week amid global glut. Oil prices fell as much 1 percent for a second day in a row on Tuesday as a rallying dollar and global fuel glut offset forecasts for lower U.S. crude stockpiles that would have been typically bullish for the market. A Reuters poll showed U.S.
Mild Weather Further Pressures U.S. Drillers
Strapped for cash, Chesapeake Energy Corp canceled its traditionally grand display of holiday lights this year, but like most oil and gas drillers it is still dreaming of a white Christmas. A mild North American winter could punish large drillers, especially gas giants like Chesapeake…
US Industrial Natural Gas Usage Falls Unexpectedly
U.S. manufacturers have not soaked up as much excess shale gas in the first half of 2015 as expected, but the shortfall may be an anomaly as a Gulf Coast manufacturing boom is poised to insulate the sector from seasonal demand fluctuations. Average industrial demand…
U.S. Burns Record Natgas to Generate Power in January
U.S. electric companies in the lower 48 states gobbled up record amounts of natural gas to generate power in January 2015 as low prices made it more economic to burn gas instead of coal. Power generators used an average 23.1 billion cubic feet per day of gas in January 2015…
Oil Surges After Brent Crash
Brent crude jumped almost $2 a barrel on Friday for its biggest daily gain in three weeks as support emerged a day after prices crashed to four-year lows below $80, but analysts were skeptical the rebound would continue, citing concerns over oversupply. Brent crude jumped almost 3 percent…
