Archive for the ‘oil fundamentals’ Category

EIA analysis: Distillate stocks slide significantly

The most eye-popping number in this week’s Energy Information Administration stock report was the large decline in distillate stocks. You can see our analysis of the numbers here. 

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EIA analysis: big build in crude oil stocks

The weekly data from the Energy Information Administration showed a significant build in crude oil stocks. Our analysis of those numbers is here.

For US airline industry, a penny saved on jet fuel is $180 million earned

I flew two different airlines last week. Both were packed.

Despite Ebola fears. Despite high ticket prices. Despite a slowing global economy. Despite high jet fuel prices.

Wait. Scratch that last one.

Spot market jet fuel prices have plunged as much as 50 cents below the 2014 average.

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EIA analysis: big build in crude oil stocks

A sagging crude oil market got another big hit of bearish news today with the weekly EIA statistics showing a big build in crude stocks. You can read our analysis here. 

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More oil demand gloom from the IEA weighs on world’s producers

With crude prices at near four-year lows, the last thing the world’s key oil producers want to hear is that demand growth is set to weaken yet further.

But that was the message from the International Energy Agency in its latest monthly oil market report published today.

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A veteran economist looks at oil price collapses of yore, and sees parallels to today

Phil Verleger has a long memory.

Phil is a veteran energy economist, and he and I have been emailing each other over the course of the last week, recalling the oil price collapse of the mid 1980’s. As he noted, there are a dwindling number of of people still in the industry who remember that. But I had just joined Platts when the great collapse of 1985-1986 took place. On April 1, 1986, WTI plunged to less than $10 and no, it wasn’t an April Fool’s joke. (It remains the only day in the history of the WTI contract, launched in 1983, that the price ever “printed” a number less than double digits. It has never settled at less than $10.)

In his latest weekly report, Phil recalls that fall, as well as the collapse of 1998-1999. While WTI prices didn’t drop below the $10 level in the late 90’s, the levels of that period, after adjusting for inflation, were the lowest in history.

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Petrodollars: As oil prices plummet, the squeeze grows on balance sheets

The math doesn’t work for a lot of oil projects as the price continues to slide. Robert Perkins, in this week’s Oilgram News column Petrodollars, reviews the capital investment conundrum many companies are facing.

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EIA analysis: US crude stocks show unexpected draw

US crude oil, gasoline and distillate inventories fell across the board last week. Run rates last week fell to lows not seen since the beginning of the summer.

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Takeoff, eh? At time of need, New York jet fuel heads to Canada

New York jet fuel prices spiked from mid-July through August, and new data gives more insight why. Blame Canada.

Canada may be sending everything from comedians and crude into the US. But in July, it took in a good bit of US jet fuel, mostly out of New York.

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EIA analysis: big draw in crude oil stocks

US crude oil stocks took an unexpected downturn last week. You can see our analysis of the latest Energy Information Administration inventory report here.

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