Blog

CES Spotlight Blog

RSS
  Blog Categories
  Authors
April 17th, 2017

Market Summary for the Week of April 10 - 14, 2017

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil prices inched up early last week and held on to those gains. Concerns about increased instability after the US airstrike in Syria kept prices boosted, in addition to indications that the OPEC production cuts were having the desired effect of balancing the market. Natural gas prices fell slightly last week amid predictions that mild weather could give way to a lull in demand. The EIA reported a weekly storage injection of 10 Bcf, in line with analyst predictions.

Read More »

April 10th, 2017

Market Summary for the Week of April 3 - 7, 2017

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Oil prices climbed for the second straight week despite record high storage levels in the US and robust domestic production. OPEC and Russia continue to push speculation of an extension of the joint production cuts, and the airstrike in Syria also boosted crude oil. Natural gas prices rose last week as forecasts of rising exports and cooling demand amid relatively low production indicate that storage could tighten this summer. Thursday’s EIA report signaled a slightly early start to the injection season as cold weather retreats.

Read More »

April 3rd, 2017

Market Summary for the Week of March 27 - 31, 2017

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil prices rose dramatically last week, rallying from Tuesday through Friday. US crude stockpiles grew less than expected, while distillate and gasoline stockpiles fell precipitously. OPEC and other producers met in Kuwait, stoking speculation that the group may extend the production cuts. Natural gas prices rose last week as March cold brought a larger-than-average storage decline. Inventories are poised to end the injection season at a surplus to the average, but regional low temperatures could sustain some late heating demand.

Read More »

March 27th, 2017

Market Summary for the Week of March 20 - 24, 2017

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Near-term crude oil remained under the $50 mark last week as the US saw a large gain in domestic stocks. Record US stocks have insulated both WTI and Brent prices from the impacts of OPEC’s production cuts, which could be extended beyond the current end date of June 30. Natural gas prices made gains last week as late-winter cold boosted heating demand, narrowing the supply surplus. The EIA reported a record supply draw of 150 Bcf; the average draw for this time of year is 21 Bcf.

Read More »

March 20th, 2017

Market Summary for the Week of March 13 - 17, 2017

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil prices held steady last week after plummeting 9% the week prior. Reports showed that global stockpiles increased in January, prior to the impact of the OPEC-led production cuts. However, crude oil prices were bolstered by an unexpected decline in US storage levels. Natural gas prices came down last week as winter storm Stella brought less snow than anticipated and forecasts are calling for a warm end to March across the US. On the other hand, stocks are currently 10% below last year at this time.

Read More »

« 1 2 3 4 5 »