Triangle Petroleum Corp
Analyzing Crude Oil Prices in 2016 and 2017
Crude oil prices were $54.1 per barrel on December 28—the highest since July 14, 2015. As of January 16, 2017, crude oil prices are 3.4% below their highs.
Libya’s Crude Oil Production: Bears Could Control Oil Prices
Libya’s crude oil production was at 1,030,000 bpd in July 2017. Production has risen ~60% from its levels in January 2017.
US Crude Oil Inventories Could Reach Record Levels
On February 22, the API will release its weekly crude oil inventory report. US crude oil inventories could have risen from February 10–17, 2017.
Libya’s Crude Oil Production Reached a 3-Year High
Libya’s National Oil Corporation reported that the country’s crude oil production rose by 300,000 bpd between September 2016 and January 2017.
Can OPEC and Russia Rescue the Oil Market?
The EIA estimates that OPEC’s crude oil production rose by 90,000 bpd to 31.71 MMbpd (million barrels per day) in April 2017—compared to March 2017.
US Dollar near 7-Month High: Will It Pressure Crude Oil Prices?
November West Texas Intermediate crude oil futures contracts fell 0.8% and settled at $49.94 per barrel on October 17, 2016.
Why Morgan Stanley Expects Crude Oil Prices to Trend even Lower
As of the end of April, crude oil prices had rallied by almost 70% since the lows of February 2016. But prices were still ~60% lower than in June 2014.
Will US Crude Oil Inventories Pressure Oil Prices?
September US crude oil (BNO) (IEZ) (UCO) futures contracts fell 0.3% to $46.4 per barrel in electronic trading at 2:15 AM EST on July 19, 2017.
Will Crude Oil Prices Break below the 100-Day Moving Average?
So far, crude oil prices and broader markets such as the S&P 500 (SPY) (SPX-INDEX) are diverging in 2017. SPY has risen 4% YTD (year-to-date).
US and Brent Crude Oil Price Forecast for the Next 6 Months
Brent crude oil futures are trading below their 20-day, 50-day, 100-day, and 200-day moving averages of $49.9, $51.6, $53.3, and $53.8 per barrel.
Crude Oil Prices Skyrocket before OPEC’s Meeting
Crude oil prices rose on November 15, 2016. However, expectations of a bearish crude oil inventory report could pressure crude oil prices.
Why Investors Are Tracking US Gasoline Demand
The EIA (U.S. Energy Information Administration) estimated that four-week average US gasoline demand fell by 80,000 bpd to 9,237,000 bpd on April 14–21.
Federal Reserve and OPEC Pressure Crude Oil Prices
On December 14, the Federal Reserve reported that it would raise the interest rate by 25 basis points. As a result, the US Dollar Index appreciated by 0.7%.
Global Crude Oil Supply Outages Could Push Oil Prices Higher
According to the EIA, global crude oil supply outages increased by 208,000 bpd or 14% to 1,738,000 bpd in December 2017—compared to November 2017.
US Dollar near 9-Month High: Is It Bearish for Crude Oil Prices?
December WTI crude oil futures contracts rose on October 21, 2016, due to expectations of OPEC and Russia reaching an agreement to cap production.
Crude Oil Prices in 2016: Crucial Support and Resistance Levels
Crude oil has rallied by almost 40% in the past two months. But prices have fallen by 65% since June 2014. Oil prices have breached key moving averages.
Gasoline Futures and Crude Oil Prices Diverged
April gasoline futures fell 1.3% to $1.58 per gallon on March 15, 2017. Prices fell despite the fall in US gasoline inventories.
Goldman Sachs: OPEC and Russia Could Pressure Oil Prices
Goldman Sachs (GS) thinks that a rise in production from OPEC, Russia, and the US in 2H18 could lead to renewed oversupply by the end of 2018.
OPEC’s Spare Production Capacity Fell: Will It Impact Oil Prices?
The EIA estimated that OPEC’s spare crude oil production capacity fell by 36,277 bpd to 2.32 MMbpd in April 2017—compared to March 2017.
Cushing Crude Oil Inventories: More Pain for Oil Prices?
Market surveys estimate that Cushing crude oil inventories rose from March 3–10. A rise in crude oil inventories could pressure US crude oil prices.
Fall in US Refinery Demand and Imports Impacted Inventories
US refineries operated at 91.5% of their operable capacity in the week ending May 5, 2017. The US refinery demand fell for the second consecutive week.
Could US Crude Oil Production Push Production Cut Deal Past 2017?
The EIA reported that monthly US crude oil production rose 196,000 bpd to 9.0 MMbpd in February 2017.
Oil Prices, World Oil Consumption, and Global Economic Growth
Steady world oil consumption would support oil prices in 2017. The change in world consumption is expected to average 1.6% in 2017.
US Crude Oil Production Fell for the First Time since February
US crude oil production fell by 9,000 bpd to 9,305,000 bpd on May 5–12, 2017. Production fell 0.1% week-over-week, but rose 5.8% year-over-year.
Why US Crude Oil Prices Hit Highest Level since July 2015
April WTI (West Texas Intermediate) crude oil (BNO) (IXC) (IYE) futures contracts rose 1.6% and settled at $54.45 per barrel on February 23, 2017.
Gasoline Demand: Important for Crude Oil Bulls
The EIA reported that US gasoline demand rose by 114,000 bpd to 9.8 MMbpd from July 8–15, 2016.
A must-know overview of Triangle Petroleum’s subsidiaries
TUSA is Triangle’s wholly owned E&P subsidiary located in the Williston Basin that generated ~$160 million of revenue and ~$110 million of EBITDA in 2013.
Why Is XOP Underperforming Other Energy ETFs?
The fall in energy ETFs started after the fall in oil prices on July 5, 2016, and when Brexit concerns and supply-related fears resurfaced.
CRAK Offers Exposure to Crude Oil Refining Companies
Van Eck Global launched the VanEck Vectors Oil Refiners ETF (CRAK) on August 18, 2015. CRAK is a good option for investors who want exposure to the energy sector but don’t expect energy prices to rise anytime soon.
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.
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 […]
Will US Crude Oil and Gasoline Inventories Support Oil Prices?
September WTI (West Texas Intermediate) crude oil (OIH) (SCO) (DIG) futures contracts rose 0.5% to $47.81 per barrel in electronic trading at 1:50 AM EST on August 16, 2017.
Decoding US Crude Oil Price Forecasts and Moving Averages
August US crude oil (VDE) (IEZ) (XES) futures are trading above their 20-day moving average of $45 per barrel as of July 3, 2017.
US Crude Oil Production: Biggest Weekly Fall since July 2016
The EIA (U.S. Energy Information Administration) reported that US crude oil production fell by 100,000 bpd to 9,250,000 bpd on June 16–23, 2017.
Are OECD’s Crude Oil Inventories Helping Crude Oil Bears?
The EIA estimates that OECD’s crude oil inventories rose by 2.31 MMbbls (million barrels) or 0.1% to 3,021.5 MMbbls in May 2017—compared to April 2017.
Oasis Petroleum’s Acreage Position in the Williston Basin
According to its investor presentation released on May 17, 2017, Oasis Petroleum (OAS) holds a premier acreage position in the Williston Basin. This series will look at what we can expect from Oasis this year.
US Gasoline Inventories: More Concerns for Crude Oil Prices
US gasoline inventories are 7.2% below their all-time high. The expectation of a fall in gasoline inventories could support gasoline prices.
Analyzing Cushing Crude Oil Inventories and US Crude Oil Futures
A fall in Cushing inventories could benefit US crude oil (BNO) (SCO) (UCO) prices. Crude oil prices have risen 2.8% in the last four weeks.
Is US Gasoline Demand Turning Bearish?
The EIA estimated that four-week average US gasoline demand fell by 22,000 bpd (barrels per day) to 9,215,000 bpd on April 21–28, 2017.
US Dollar Is near a 5-Month Low: Can It Support Crude Oil Bulls?
The US Dollar Index fell 1% to 98.9 for the week ending April 28, 2017. The dollar hit a high of 103.8 on January 3, 2017—the highest level in 14 years.
EIA Reported a Surprise Draw in US Gasoline Inventories
The EIA reported that US gasoline inventories fell by 0.9 MMbbls (million barrels) to 256.2 MMbbls between January 27, 2017, and February 3, 2017.
Gasoline Inventories Pressure Gasoline and Crude Oil Prices
For the week ending December 9, 2016, US gasoline inventories were 5% higher than they were in the same period in 2015.
US Stock Market Performance: Republican versus Democrat
The US stock market is volatile because the election is right around the corner. The US presidential election will take place on November 8, 2016.
Why US Crude Oil Inventories Are Near October 2015 Levels
US crude oil (UWTI) (IXC) (ERY) (BNO) (RYE) inventories rose by 4.9 MMbbls (million barrels) to 474 MMbbls between September 30 and October 7.
Nigeria’s Crude Oil Production Fell for 2nd Consecutive Month
A Bloomberg survey indicated that Nigeria’s crude oil production fell by 130,000 bpd (barrels per day) to 1.4 MMbpd (million barrels per day) in August 2016 compared to the previous month.
Russia’s Crude Oil Production Will Pressure the Crude Oil Market
Russia’s crude oil production rose to 10.84 MMbpd in June 2016—compared to the previous month—according to sources from the Russian Energy Ministry.
How Are Key Macroeconomic Indicators Affecting Oil?
The US (SPY) (VOO) consumer sentiment index was 93.5 for June’s final reading, according to the University of Michigan survey released on June 24, 2016.
What Drove the Crude Oil Demand in Asia?
India’s Petroleum, Planning, and Analysis Cell reported that India’s crude oil demand rose by 0.4 MMbpd in April. It’s 10% higher than the same period in 2015.
Upstream Stocks with High and Low Implied Volatility
As of June 17, 2016, Triangle Petroleum (TPLM) had the highest implied volatility among upstream stocks at 225.5. Its 15-day average implied volatility was 232.5.
AMLP Fell: Did It Outperform Other Energy ETFs?
The Alerian MLP ETF (AMLP) outperformed other energy ETFs from June 9–16, 2016. Falling crude oil has less of an impact on midstream companies.
Will the Dollar’s Recovery Affect Crude Oil?
Between June 7 and June 14, 2016, crude oil (USO) fell by ~3.7% while the US dollar index (UUP) rose by around 1.2%.
What Do Key Economic Indicators Suggest for Crude Oil?
The one-month correlation of crude oil prices with the US Dollar Index was -9.2% on May 27. It shows the US dollar’s inverse impact on crude oil prices.
What’s the Correlation between Crude Oil and the US Dollar Index?
Between May 24 and May 31, crude oil gained about 0.98% despite the fact that the US Dollar Index also rallied around 0.33%.
Continental Resources: An Introduction
In this series, we will analyze how badly Continental Resources (CLR) was hit by weak oil prices, and what measures it has taken to counter this situation. In 2015, crude oil accounted for 66% of CLR’s total production and 85% of its revenues.
How Did the Consumer Price Index Affect Crude Oil Prices?
The US (SPY) (VOO) CPI (consumer price index) rose 0.4% on a month-over-month basis in April, according to a US Department of Labor report on May 17, 2016.
How Will China and India Impact the Crude Oil Market in 2016?
China’s crude oil production fell to the lowest level in four years. It fell by 5.6% YoY (year-over-year) to 16.6 metric tons in April 2016.
What’s the Correlation between Crude Oil and the Dollar Index?
Between September 2007 and April 2013, the crude oil (USO) and dollar index (UUP) one-month correlation was positive in only a few instances.
What Are Key Macroeconomic Indicators for Crude Oil?
The last one-month correlation of crude oil with the US Dollar Index spot stood at 2.4% on May 6, 2016. This is a low correlation.
Why South Korea and India Are Bullish Forces for Crude Oil
In this part of the series, we’ll look at some more bullish drivers for crude oil prices over the long term.
What’s Next for the Crude Oil Mark in Iran?
Iran is the third-largest oil producer in OPEC. Bloomberg projects that its crude oil production rose by 300,000 bpd to 3.5 MMbpd in April 2016 over March.
Slower Non-OPEC Production and Other Bullish Forces for Crude Oil
The IEA (International Energy Agency) estimates that crude oil production from non-OPEC producers could see the biggest decline in 25 years.
Gasoline Prices: Roller Coaster Ride Continues in 2016
May gasoline futures trading in NYMEX rose by 0.7% and settled at $1.39 per gallon on April 6. Gasoline prices rallied almost 30% from the lows in February.
How Seasonality Impacts Crude Oil Prices
Seasonality plays a key role in influencing crude oil prices. Crude oil prices tend to rise in August due to the summer driving season, which results in a rise in gasoline demand.
Pressure for Crude Oil Prices? Inventory Rose for the Seventh Week
The EIA reported that the US crude oil inventory rose by 2.3 MMbbls (million barrels) to 534.8 MMbbls between March 18, 2016, and March 25, 2016.
Crude Oil Prices Test the Key Support: Hit a 2-Month Low
Crude oil prices resumed their long-term downward trend yesterday. Bearish oversupply factors and Iran’s nuclear deal could drag WTI prices lower.