A small expected build in crude oil stocks in the US last week actually turned out to be a fairly large build, given normal trends at this time of the year. You can read Platts’ analysis of the Energy Information Administration figures here.
Archive for the ‘oil fundamentals’ Category
By News Desk | November 19, 2014 04:51 PM Comments (1)
By Stuart Elliott | November 14, 2014 09:55 AM Comments (4)
The 30% fall in oil prices since mid-June continues to dominate the oil market headlines, and anyone hoping for a swift recovery in prices could well be disappointed — especially if the most recent forecasts from the International Energy Agency are anything to go by.
The west’s energy watchdog said on Friday that global oil prices could continue to fall into 2015 despite the expectation that some unconventional oil production could become uneconomic at prices under $80/b.
By News Desk | November 13, 2014 04:18 PM Comments (0)
The US Energy Information Administration’s petroleum data was delayed this week due to the US Veterans Day holiday earlier in the week. Commercial crude oil stocks fell 1.7 million barrels to 378.5 million barrels during the reporting week that ended Friday, and it was the second reporting week in a row in which crude runs increased, following a seasonal pattern.
Read more about the numbers and their significance in the Platts analysis from Geoffrey Craig, which can be found here.
By Brian Scheid | November 6, 2014 12:01 AM Comments (0)
Shortly after the US Energy Information Administration released a report last week on what drives US gasoline prices, the American Petroleum Institute declared its findings a significant argument in favor of dropping all restrictions on US crude oil exports.
The EIA report “confirms that lifting trade restrictions on U.S. crude oil could benefit U.S. consumers and promote America’s economic growth,” the oil and gas industry’s key trade association said in a statement.
That same day, the Producers for American Crude Oil Exports, a lobbying group backed by independent oil companies including Anadarko Petroleum, ConocoPhillips and Hess, said the EIA report backed the group’s calls for liberalizing the crude export restrictions which have been in place for nearly 40 years.
By News Desk | November 5, 2014 03:48 PM Comments (0)
After some wild swings in recent weeks, the latest EIA oil inventory report was relatively subdued. You can read our analysis of it here.
By News Desk | October 29, 2014 05:31 PM Comments (0)
By News Desk | October 22, 2014 03:29 PM Comments (0)
The weekly data from the Energy Information Administration showed a significant build in crude oil stocks. Our analysis of those numbers is here.
By Matt Kohlman | October 21, 2014 11:41 AM Comments (0)
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.
By News Desk | October 16, 2014 04:11 PM Comments (0)
By Stuart Elliott | October 14, 2014 10:30 AM Comments (1)
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.