The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 1.72 MMbbls to 147.7 MMbbls on July 28–August 4, 2017.
The U.S. Energy Information Administration estimates that monthly US crude oil production fell 24,000 bpd (barrels per day) to 9.1 MMbpd (million barrels per day) in April 2017.
ETF Securities Changing Dollar Dynamic The rule of thumb known to many investors is that the US dollar has an inverse relationship with oil and energy prices. This negative relationship was most prominent from 2003 to 2014 (see “Oil’s inverse relationship to the dollar was most prominent from 2003 through 2014” chart below). During this […]
US gasoline futures contracts for June delivery fell 0.1% to $1.60 per gallon on May 17, 2017. Prices fell due to a lower fall in US gasoline inventories.
US refineries operated at 93.4% of their operable capacity in the week ending May 5, 2017. The rise in refinery demand is bullish for crude oil prices.
The EIA (U.S. Energy Information Administration) reported that US gasoline inventories fell 2.9 MMbbls (million barrels) to 236.1 MMbbls between March 31, 2017, and April 7, 2017.
The API estimated that US gasoline inventories fell by 1.1 MMbbls from March 17–24, 2017. US distillate inventories fell by 2 MMbbls during the same period.
As of January 9, crude oil prices were up 98.2% from their 2016 lows. Higher crude oil and natural gas prices have a positive impact on producers’ earnings.
The EIA reported that US on-highway diesel fuel prices rose 0.8% to $2.54 per gallon for the week ending December 26, 2016—compared to the previous week.
WTI crude oil futures contracts for January delivery rose 1.0% and were trading at $52.20 per barrel in electronic trade at 4:50 AM EST on December 5, 2016.
NYMEX crude oil was at $26.21 per barrel on February 11—the lowest level since 2003. As of November 18, crude oil prices were up 77% from their 2016 lows.
Cushing crude oil inventories fell by 650,000 barrels from October 21–28, 2016. A fall in crude oil inventories at Cushing could support crude oil prices.
The events on the energy calendar influence crude oil and natural gas prices. The fluctuation in crude oil prices impacts oil and gas producers’ earnings.
Volatility in crude oil prices impacts the earnings of oil and gas producers such as Northern Oil & Gas (NOG), Comstock Resources (CRK), Swift Energy (SFY), and Triangle Petroleum (TPLM).
On August 9, the API will release its weekly crude oil inventories report. US crude oil inventories fell by 1 MMbbls between July 29 and August 5, 2016.
September WTI crude oil futures contracts rose and closed at $40.83 per barrel on August 3. Prices rose due to an unexpected draw in US gasoline inventories.
The API released its weekly crude oil inventories report on June 21, 2016. It stated that US crude oil inventories fell by 5.2 MMbbls between June 10 and June 17.
WTI and Brent crude oil prices settled below $50 per barrel due to profit booking. Oil traders were booking profit ahead of the US Memorial Day holiday on Monday, May 30, 2016.
The EIA released its weekly petroleum report on May 11, 2016. It reported that US gasoline inventories fell by 1.2 MMbbls to 240.6 MMbbls between April 29–May 6, 2016.
On April 27, 2016, the EIA released its “This Week in Petroleum” report. It reported that average US retail gasoline prices rose by 1.7% week-over-week.
For the week ended April 22, 2016, distillate inventories are expected to fall. The estimates of falling gasoline and distillate inventories could benefit crude oil prices.
On March 23, 2016, the EIA reported that US on-highway diesel fuel prices increased by 1% to $2.1 per gallon on March 21 compared with the previous week.
Supply stripping demand caused crude oil prices to fall by almost 66% since June 2014. However, oil prices rose almost 37% from the lows in February 2016.
December WTI crude oil futures fell for the fourth time in the last five trading sessions. Prices are moving towards the nearest support level within the price channel.
The net debt of US oil and gas exploration and production companies increased from $81 billion in 2010 to $169 billion by 1H15. The main reason is the catastrophic fall in crude oil prices.
