How Record US Crude Oil Exports Are Impacting Crude Oil Inventories and Prices
On September 27, the EIA released its weekly report, estimating that US crude oil inventories fell to 470.9 MMbbls from September 15–22, 2017.
Energy & Utilities
Stock news and analysis in the energy sector, including petroleum, natural gas, and green energy,
How US Natural Gas Production and Consumption Are Driving Prices
Market data provider PointLogic estimates that weekly US dry natural gas production fell by 0.2 Bcf (billion cubic feet) per day to 74.3 Bcf per day from September 21 to 27, 2017.
How Marathon Oil’s Divestiture Affected Its Production Mix
In 2Q17, Marathon Oil’s (MRO) production mix from continuing operations was ~47.0% crude oil and condensate, ~15.0% natural gas liquids, and ~38.0% natural gas.
US Gasoline Demand Today: Bullish or Bearish for Crude?
The EIA estimates that weekly US gasoline demand fell 178,000 bpd (barrels per day) to 9.4 MMbpd between September 8 and September 15.
The Key Risks Involved in Arch Coal’s Business
Commodity price risk Arch Coal (ARCH) has long-term coal supply agreements for their non-trading, thermal coal sales, hence managing commodity risk for thermal coal and also to a limited extent, through the use of derivative instruments. However, sales commitments in the metallurgical coal market are typically not long-term in nature and are subject to fluctuations […]
Cushing Crude Oil Inventories Rose for the Fourth Week
Cushing crude oil inventories rose on September 15–22, 2017. A rise in Cushing crude oil inventories is bearish for crude oil (UWT) (DWT) (USO) prices.
US Dollar Could Help Crude Oil Futures
The US Dollar Index fell 0.1% to 91.97 on September 22, 2017. However, the US dollar rose 0.7% on September 20, 2017, after the FOMC’s meeting.
US Gasoline Inventories Fell for 4th Time in 5 Weeks
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories fell 2.1 MMbbls (million barrels), or 1%, to 216.1 MMbbls between September 8, 2017, and September 15, 2017.
US Crude Oil Production Near 4-Week High: Another Bearish Factor
The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 157,000 bpd (barrels per day), or 1.7%, to 9,510,000 bpd between September 8, 2017, and September 15, 2017.
Are Crude Oil Futures Signaling a Breakout?
November US crude oil (UWT) (DWT) (USO) futures contracts rose 0.8% to $50.3 per barrel in electronic trading at 2:10 AM EST on September 20, 2017.
What Led to Sempra Energy’s Sharp Fall in Dividend Yield?
Sempra Energy’s revenue for the first half of 2017 rose 7.0%, driven by every segment.
US Gasoline Demand Could Fall in 2018
The EIA estimates that weekly US gasoline demand rose by 456,000 bpd (barrels per day) to 9.6 MMbpd (million barrels per day) on September 1–8, 2017.
Iran’s Crude Oil Production Was Flat in August 2017
The EIA estimates that Iran’s crude oil production was flat at 3.8 MMbpd (million barrels per day) in August 2017—compared to July 2017.
OPEC’s Crude Oil Production and Exports Impact Crude Oil Prices
The EIA estimates that OPEC’s crude oil production fell by 150,000 bpd to 32.77 MMbpd (million barrels per day) in August 2017—compared to July 2017.
Will Major Oil Producers Extend the Output Cut Deal past March?
October WTI (West Texas Intermediate) crude oil (USO)(UCO)(DIG) futures contracts rose 0.16% and were trading at $49.98 per barrel in electronic trading at 2:10 AM EST on September 18.
Will US Crude Oil Futures Break $50 per Barrel?
Let’s track some important events for crude oil and natural gas traders between September 18 and September 22.
Will the FOMC Meeting Drive the US Dollar and Crude Oil Futures?
The US Dollar Index fell 0.27% to 91.86 on September 15. It’s near a 33-month low. Prices fell due to the surprise decline in US retail sales in August.
Will US Natural Gas Consumption Outweigh Production?
PointLogic estimates that weekly US natural gas consumption fell 6.6% to 52 Bcf per day from September 7 to 13. Consumption fell 13% year-over-year.
Understanding Phillips 66’s Cash Flow
In 1H17, Phillips 66 saw its cash from operations fall 7% YoY to ~$1.3 billion. This was due to negative cash flow in 1Q17, led by seasonal inventory build-up.
Basic Energy Services: The Only Declining Oilfield Services Stock
In the week starting September 11, Basic Energy Services (BAS) fell from $15.66 to $14.98—a decrease of ~4%.
Why US Natural Gas Futures Hit a 2-Week High
US natural gas (DGAZ)(UGAZ)(UNG) futures contracts for October delivery rose 0.32% to $3.07 per MMBtu (million British thermal units) on Thursday, September 14.
Is Sanchez Energy Repeating an Old Debt Mistake?
Since 1Q16, crude oil (USO)(SCO) prices have risen from lows of $26.05 per barrel to $49.30 per barrel as of September 13.
US Gasoline Inventories’ Largest Weekly Drop in 27 Years
The EIA (U.S. Energy Information Administration) released its weekly crude oil inventory report on September 13.
Why US Crude Oil Inventories Rose Again
On September 13, the EIA (U.S. Energy Information Administration) released its weekly crude oil inventory report.
National Oilwell Varco’s Valuation Compared to Its Peers
National Oilwell’s valuation, expressed as the TTM PE (price-to-earnings) multiple, isn’t available due to its negative adjusted earnings.
Why Were Crude Oil Price Forecasts Downgraded Again?
A Wall Street Journal survey estimates that US crude oil prices could average $51 per barrel in 2018—$2 per barrel lower than previous estimates.
Hurricanes Could Impact Global and US Crude Oil Demand
West Texas Intermediate crude oil (DBO) (DIG) (XLE) futures contracts for October delivery rose 1.2% to $48.07 per barrel on September 11, 2017.
Shareholders Approve Quaker Chemical and Houghton Combination
On September 7, 2017, Quaker Chemical (KWR) shareholders approved the company’s combination with Houghton International.
Why Cushing Crude Inventories Rose for the 4th Time in 5 Weeks
A market survey estimates that Cushing crude oil inventories fell from September 1 to 8, 2017. Cushing crude oil inventories rose for the fourth time in the last five weeks.
What to Watch: This Week’s Key Crude Oil Price Drivers
Let’s track some important events for crude oil and natural gas traders from September 11 to 15, 2017.
Why the US Dollar Hit a 33-Month Low
The US Dollar Index fell 0.34% to 91.33 on September 8—the lowest level in the last 33 months. Prices fell due to the following factors.…
How ONEOK Has Managed Its Impressive Dividend Yield
How ONEOK has maintained a 4% yield ONEOK (OKE), the general partner and 41% owner of ONEOK Partners, owns one of the country’s premier natural gas liquid systems. The company’s revenue grew 15% in 2016 after falling 36% in 2015. The growth was driven by its Natural Gas Gathering and Processing, Natural Gas Liquids, and […]
Decoding Helmerich & Payne’s Dividend Yield
What’s driving Helmerich & Payne’s high yield? Contract oil and gas well driller Helmerich & Payne (HP) recorded a sharp drop in its 2016 operating revenue due to declines in its US drilling, offshore, and international segments. Its revenue fell 19% in 2015, compared with 51% in 2016. Its operating income, as a result, ended […]
What Wall Street Analysts Are Recommending for Halliburton
On September 5, 2017, 89.0% of Wall Street analysts who are tracking Halliburton stock rated it a “buy” or some equivalent.
US Distillate Inventories Rise for a Third Week
US distillate inventories On August 30, 2017, the EIA (U.S. Energy Information Administration) released its weekly crude oil inventory report. The EIA estimates that US distillate inventories rose by 0.5% to 149.1 MMbbls (million barrels) between August 18 and 25, 2017. Inventories fell by 5.6 MMbbls, or 3.6%, from the same period in 2016. Inventories […]
US Gasoline Futures Hit 2-Year High despite Inventory Rise
US gasoline inventories The U.S. Energy Information Administration reported that US gasoline inventories rose 35,000 barrels to 229.9 MMbbls (million barrels) between August 18 and 25, 2017. Inventories fell 2.1 MMbbls, or 0.9%, from the same period in 2016. For the third time in five weeks, inventories rose. A market survey estimated that US gasoline […]
How Hurricane Harvey May Impact US Crude Oil Production
US crude oil production The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 2,000 bpd (barrels per day) to 9,530,000 bpd between August 18 and 25, 2017. Production rose 1,042,000 bpd, or 12.3%, from the same period in 2016. It has risen for three consecutive weeks to August 25, and has reached […]
Could Crude Oil Futures Rise Due to Short Covering?
In this series, we’ll review US crude oil inventories, refinery demand, production, and gasoline and distillate inventories.
Behind Halliburton’s Free Cash Flow, Capex, and Acquisition Strategies
Halliburton’s (HAL) CFO (cash from operating activities) in 2Q17 showed a remarkable improvement over 2Q16. HAL’s CFO was a $346 million in 2Q17.
Understanding Halliburton’s Net Debt after 2Q17
In 2Q17, Halliburton’s (HAL) total debt fell 14% from 2Q16, while its cash and marketable securities fell 31%.
What Halliburton’s Margin Has to Do with Upstream Operators’ Capex
From 2Q16 to 2Q17, Halliburton’s (HAL) EBITDA margin (or EBITDA as a percentage of revenues) rose from 12% to 16%.
Kansas City Southern: What Led Volume Rise in Week 34?
Kansas City Southern (KSU), the smallest Class I railroad, reported a marginal volume gain in the week ended August 26, 2017.
Hurricane Harvey Could Impact the US Natural Gas Rig Count
Baker Hughes reported that the US natural gas rig count fell by two to 180 on August 18–25, 2017. It’s the lowest level since May 19, 2017.Company & Industry Overviews An Overview of Westmoreland Coal
In this series, we’ll analyze Westmoreland Coal’s (WLB) business model. We’ll explore how the company has expanded its business, and evaluate its key operational metrics and financial position.
Short Interest in Enterprise Products and Magellan Rose Recently
The short interest as a percentage of float in Enterprise Products Partners’ (EPD) stock is 1.8%—higher than the 1.7% in mid-August.
Why Hedge Funds May Be Turning Bearish on US Crude
The US Commodity Futures Trading Commission reported on Friday, August 25, that hedge funds have cut back their bullish positions in US crude futures and options.
Will US Gasoline Demand Impact Gasoline and Crude Oil Futures?
The EIA estimates that weekly US gasoline demand rose 107,000 bpd (barrels per day), or 1.1%, to 9.6 MMbpd between August 11 and August 18.
Who’s Shorting COP: Reading the Short Interest in ConocoPhillips’s Stock
Short interest in COP On August 14, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~33.4 million, while its average daily volume was ~8.02 million. This means the short interest ratio for COP’s stock was ~4.6x. COP’s average daily volume is calculated for the short interest reporting period from August 1, 2017, […]
Analyzing the Short Interest in Southwestern Energy Stock
As of August 14, Southwestern Energy’s total shares shorted (or short interest) stood at ~45.89 million, while its average daily volume is ~17.44 million.
Short Interest in Marathon Oil Stock Remains at Lower Levels
As of August 14, 2017, Marathon Oil’s total shares shorted (or short interest) stood at ~36.65 million, while its average daily volume is ~15.94 million.