Blog

CES Spotlight Blog

RSS
  Blog Categories
  Authors
April 9th, 2018

Market Summary for Week of April 2 - 6, 2018

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 fell last week on escalating trade war tensions with China. However, over the weekend Syria carried out a chemical attack on its civilians, and the resulting tensions in the region is boosting prices. Natural gas prices fell 1% last week as strong domestic output continues to weigh on markets. This comes despite low temperatures and late-season heating demand that has contributed to a widening inventory deficit.

Read More »

April 2nd, 2018

Market Summary for Week of March 26 - 30, 2018

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 came down slightly last week. The EIA storage report was bearish on prices, but in the larger picture, crude prices have risen steadily since June 2017 as the OPEC cuts have slowly worn down the global glut in stocks. Natural gas prices rose nearly 4% last week. Early April may be colder than normal across the Northeast and upper Midwest, fueling late-season heating demand that could dampen or delay the start of the injection season.

Read More »

March 26th, 2018

Market Summary for Week of March 19 - 23, 2018

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 jumped last week. The EIA weekly storage report was largely bullish, and Trump’s hawkish appointments last week caused concern that he may scrap the Iran nuclear deal, which would constrain its crude output. Natural gas prices retreated for a second week as the cold of the heating season begins to dissipate. Prices fell 4% despite a large storage withdrawal that brought inventories to a 19% deficit to the 5‐year average.

Read More »

March 19th, 2018

Market Summary for Week of March 12 - 16, 2018

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%

WTI and Brent both rose for a second straight week due in large part to a jump on Friday. US production is projected to top 11M barrels per day by the end of 2018, and domestic crude stocks gained more than projected the previous week. Natural gas prices fell 2% this week despite lingering cold weather in the North and East. Last week’s storage withdrawal was lower than normal but inventories remain 16% below the 5-year average.

Read More »

March 5th, 2018

Market Summary for Week of February 26 - March 2, 2018

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 dipped last week. The EIA reported a new record for US production on a weekly basis, and gasoline inventories saw an unexpectedly large jump. President Trump’s proposed steel tariff was also bearish for crude. In contrast, natural gas prices gained 1% last week, rising for the second week in a row as forecasts indicate that March could see cold weather. The storage deficit stands at 18% despite last week’s small withdrawal.

Read More »

« 1 2 3 4 5 »