After several days of gains for the oil complex, crude and refined products took a small breather overnight. Prices are generally flat with slight losses across the board. Crude prices gave up 4 cents (0.07%) since yesterday’s close and are now $54.11.
For the week ending October 20, 2017, gross inputs to petroleum refineries in the U.S. Gulf Coast averaged 8.8 million barrels per day (b/d), or about 324,000 b/d higher than the previous five-year range for mid-October, based on data in EIA’s Weekly Petroleum Status Report (WPSR). Gross inputs,[…]
Nat Gas News - October 31, 2017 Note: Due to a change in ICE’s policy regarding the distribution of data, starting November 1st, the Mansfield Natural Gas Newsletter will no longer provide the Physical Spot Natural Gas Price map typically found on page (2) two. We apologize for any inconvenience[…]
Nat Gas News - October 30, 2017 Note: Due to a change in ICE’s policy regarding the distribution of data, starting November 1st, the Mansfield Natural Gas Newsletter will no longer provide the Physical Spot Natural Gas Price map typically found on page (2) two. We apologize for any inconvenience[…]
Oil markets are flat this morning after a strong day of trading on Friday. Crude oil gained $1.10 during Friday’s session closing at $53.90. After a quiet weekend, prices have retained their strength and are currently $54.02. Brent saw a strong day on Friday as well with prices settling above[…]
Nat Gas News - October 27, 2017 Note: Due to a change in ICE’s policy regarding the distribution of data, starting November 1st, the Mansfield Natural Gas Newsletter will no longer provide the Physical Spot Natural Gas Price map typically found on page (2) two. We apologize for any inconvenience[…]
Markets saw a sharp increase during yesterday’s trading session, with all products moving higher. Markets have cooled off a bit this morning, though remain elevated. Crude oil went from $52.19 to $52.64, a 45 cent (+0.9%) gain. Yesterday’s close once again marketed the highest closing price since[…]
Crude oil prices have risen gently this week, while refined products have seen significant gains, particularly in gasoline. Crude markets have increased by 73 cents (+1.4%) between Monday’s opening price and Friday’s, with Friday prices starting the day at $52.80, though trending down to close the[…]
After an EIA report that held little exciting headlines, oil product prices either fell or held their position yesterday. Crude prices fell 38 cents (-0.7%) yesterday, as the EIA confirmed a small crude stock build this past week. Crude is trading flat this morning, with prices last seen at $52.10.
For refineries on the East Coast, mainly concentrated in the Northeast, getting crude oil supplies can be harder than for other regions. There’s very little crude production in the Northeast, so crude must be shipped by pipeline or barge from other areas. Choosing between domestic and foreign oil[…]
Nat Gas News - October 26, 2017 Note: Due to a change in ICE’s policy regarding the distribution of data, starting November 1st, the Mansfield Natural Gas Newsletter will no longer provide the Physical Spot Natural Gas Price map typically found on page (2) two. We apologize for any inconvenience[…]
Nat Gas News - October 25, 2017 Note: Due to a change in ICE’s policy regarding the distribution of data, starting November 1st, the Mansfield Natural Gas Newsletter will no longer provide the Physical Spot Natural Gas Price map typically found on page (2) two. We apologize for any inconvenience[…]
Markets got a strong boost yesterday from a bullish API report, which propelled prices higher yesterday afternoon. Crude oil prices gained 58 cents (+1.1%) yesterday, despite a reported stock build. This morning, prices have slowed a bit, but have still held on to much of their gains. Crude closed[…]
Editor’s Note: Recently, we’ve written extensively on the geopolitical risks impacting oil prices, such as North Korea, Iraq, Venezuela, and Iran. While numerous scenarios are gaining momentum towards significantly affecting oil prices, it’s worth noting that in September the number of actual oil[…]
After falling gently across the board yesterday as traders cashed in their profits and exited the market, markets are trending slightly higher today. Crude prices gave up 17 cents (0.3%) yesterday, but have since recouped those small losses to regain their level above $52. Prices this morning are[…]
Nat Gas News - October 24, 2017 MMLP Announces West Texas LPG System Expansion into the Delaware Basin
Oil markets are trading flat this morning after seeing mixed pricing results on Friday. Crude oil fell and rose again on Friday, ending the day just 5 cents above their opening price. Today, crude is extending its steady trade, gaining just 15 cents this morning to reach $51.99.
It’s been a bumpy week, with oil markets being shaken by international events as much as fundamental data. Production shutdowns in Kurdistan, which is currently in contention with the Iraqi federal government, have helped boost markets, though some of the risk had already been priced into the[…]
Markets are taking a breath this morning succeeding four consecutive days of gains, with the energy complex seeing losses across the board. Crude prices are down .77 cent (1.48%) this morning after prices closed 10 cents higher during yesterday’s trading session. Prices saw an intraday high of[…]
The energy intensity of U.S. manufacturing has continued to decrease, according to the latest data from EIA’s Manufacturing Energy Consumption Survey (MECS). From 2010 to 2014, manufacturing fuel consumption increased by 4.7%, while real gross output increased by 9.6%—or more than twice that[…]
Markets are slightly higher this morning, responding to a bullish API report in regard to crude. Crude oil remained flat yesterday, closing only 5 cents lower than opening prices. Currently crude prices are $52.09, with a measly 21-cent gain (.4%) since yesterday’s close. Crude has remained strong[…]
Crude oil exports in the first half of 2017 increased by more than 300,000 barrels per day (b/d) from the first half of 2016 to 784,000 b/d, a 57% increase. Petroleum product exports also grew over the same period. Crude oil and propane exports each reached record highs of 0.9 million b/d, and[…]
Nat Gas News - October 18, 2017 Daily on Energy: Thank Mexico for Natural Gas Exports
After locking in some gains yesterday, crude prices remain higher this morning. Prices gained 44 cents yesterday, closing at $51.87, the highest close since Sept 27 and continuing a three-day streak of gains. Whether today will continue that streak is yet to be seen; prices are stagnating with[…]
EIA forecasts that U.S crude oil production will average 9.4 million barrels per day (b/d) in the second half of 2017, 340,000 b/d more than in the first half of 2017. Production in 2018 is expected to average 9.9 million b/d, surpassing the previous high of 9.6 million b/d set in 1970, based on[…]
Nat Gas News - October 17, 2017 JPSO to Continue Search for Missing Oil Platform Worker
Oil markets are up significantly this morning, propelled by instability in the Middle East. After closing roughly 70 cents higher on Friday, crude prices have continued their gains today and are currently $52.19, a gain of 74 cents (1.4%). This is the highest prices have been since late September,[…]
Markets are soaring higher this morning, with the energy complex seeing gains across the board. Crude prices are up $1.05 (2%) this morning, propelled by the EIA’s inventory report and by recent news alerts. Crude prices are well above $51 this morning, at $51.64, nearly a dollar higher than the[…]
Markets have flipflopped this week, rising and falling and rising again. It’s been a busy week of fundamental news, with the IEA, EIA, and OPEC all reporting monthly updates and forecast revisions. The general theme from the three releases was that the current price environment will likely extend[…]
Markets are lower this morning, responding to an API report that disappointed many traders. Crude oil saw modest gains of 36 cents yesterday, with prices seesawing up and down before ending higher. Prices are currently $50.58, with 72-cent losses (-1.4%) erasing yesterday’s gains. Keep in mind,[…]
Gasoline prices: The front-month futures price of reformulated blendstock for oxygenate blending (RBOB, the petroleum component of gasoline used in many parts of the country) declined by 14 cents per gallon (gal) from September 1 to settle at $1.61/gal on October 5 (Figure 5). The RBOB-Brent crack[…]
After strong gains yesterday, markets are continuing their builds this morning, propelled by expectations of bullish news from the IEA, OPEC, and the EIA. Crude prices finally took back the $50 support level, closing at $50.92, a gain of $1.37 (2.8%). Prices are holding their ground this morning,[…]
Editor’s Note: The EIA will release its Winter Fuels Outlook today at 11:00am, giving an outlook on expected fuel prices and trends during the winter, as well as a forecast of expected cold weather. This is important for energy consumers because it affects both their natural gas demand and gives an[…]
Oil markets are roaring back to life this morning, with oil prices up across the board. Oil prices were flat yesterday, with crude gaining just over a quarter, but prices have received a boost from confidence in OPEC’s talking points on market rebalancing. Prices have pushed above $50/bbl this[…]
Forward markets have been in a state of backwardation for quite some time, creating strength in prompt month pricing. Backwardation means that prices in the future are lower than prices today; it contrasts with contango, when markets are steadily rising in the future.
Hurricane Nate has come and gone, without a significant impact on U.S. energy infrastructure. The storm landed as a Category 1 storm near Biloxi, Mississippi. The storm did cause nearly all Gulf crude production to be shut in temporarily (some 1.6 million barrels per day of production), but[…]
Oil markets experienced strong losses on Friday, and continue to show weakness today. Crude prices plummeted on Friday, losing nearly $1.50, or nearly 3%, during trading hours. Prices weakened as the fear of Hurricane Nate turned to apathy; while production was shut in during the storm, expected[…]
Speeding north at over 20 mph, now Hurricane Nate continues to barrel towards the U.S. Gulf Coast (for comparison, Harvey moved at just 6 mph). The speed bodes well for states along the coast - Nate should move through very quickly, reducing the risk of severe flooding. Conversely, the system's[…]
Tropical Storm Nate is making his way quickly north, traveling at roughly 10 mph. Nate will travel over the Yucatan Peninsula in Mexico later tonight, then strengthen back at sea until reaching the Gulf Coast. Given the storm's speed, it is not expected to have sufficient time to strengthen, and[…]
Crude prices rallied yesterday, reversing the losses and closing at $50.79, the highest close of the week. Markets were propelled by news from OPEC that the cuts may be extended to the end of 2018 and new members may be added to the quota. Additionally, yesterday it was reported that 15% of Gulf[…]
This week has been an interesting show for sure. Crude oil prices trended generally downwards, dipping below $50 on Wednesday, then shooting up to weekly highs above $51 on Thursday. Prices moved from $49.76 to $51.22 in just a day, a 3% price movement. Prices are down 1.7% between Monday’s opening[…]
Tropical Storm Nate, as it became this morning, continues its trek towards the U.S. Since yesterday, the storm's path has shifted west, with landfall now expected around New Orleans, though of course the path could change as the storm moves closer.
In yesterday’s newsletter, we discussed how crude prices were struggling to stay above $50/bbl – and just in time, since crude closed at $49.98 last night. Prices have since risen back above the $50 level, with a gain of 51 cents this morning, though we’ll have to see whether the price holds.
The EIA’s oil report yesterday revealed some interesting trends that are relevant to both fuel suppliers and consumers. Crude inventories fell, which would normally boost oil prices, yet prices dropped below $50 yesterday. Gasoline stocks rose while diesel stocks fell, yet both products saw higher[…]
Mansfield has gone to Orange Alert in anticipation of Tropical Depression #16 strengthening into Tropical Storm Nate. Currently, the system has sustained winds of 45 mph, but it is expected to grow as it travels towards the Gulf Coast. Current forecasts show possible landfalls anywhere from New[…]
After severe losses earlier this week, oil markets traded flat yesterday and remains subdued today. Crude oil is trading flat despite a larger-than-expected decline in crude stocks this week. Oil is struggling to stay above $50 per barrel, opening this morning at just $50.16. Prices have had some[…]
In EIA’s latest update of state gasoline and diesel fuel taxes data, the simple average of taxes and fees on gasoline levied by the states and the District of Columbia in effect as of July 1, 2017, was 27.9 cents per gallon (¢/gal), up 4.5% from the same time last year. These taxes and fees range[…]
Yesterday was a good day for consumers. Across the board, energy markets dragged yesterday, with crude, diesel, and gasoline all giving up at least 2% during trading hours. Crude is trading flat this morning, as markets are looking at technicals to inform trading. The technicals are pointing[…]
Editor’s Note: From an annual standpoint, prices remain low compared to historical standards. Yesterday, the EIA shared an article on the U.S. federal government’s energy spend being its lowest since 2004. This is directly applicable to energy consuming companies, since many experienced similar[…]