Blog

CES Spotlight Blog

RSS
  Blog Categories
  Authors
May 31st, 2017

Market Summary for Week of May 22 - 26, 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 saw an overall drop last week as OPEC and other key producers decided to extend but not to deepen output cuts, leading prices to tumble on Thursday. The cuts will now extend through March 2018, a nine-month extension from the initial end-date of June 2017. Natural gas prices slipped modestly last week amid mild shoulder season weather that stimulated little heating or cooling demand. Futures prices began to plummet early this week, however, as forecasts for the beginning of June turned cold for the eastern continental U.S.

Read More »

May 22nd, 2017

Market Summary for Week of May 15 - 19, 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 continued to see volatility last week. The OPEC-led production cuts have failed to make a sustained impact on prices, instead causing wild swings. Prices climbed last week in anticipation that the consortium will agree to an extension of the cuts. Natural gas prices fell from five-month highs on an outlook for a mild end to May that could hold down cooling demand. This week’s storage injection was lower than normal, narrowing the surplus to 12% to the five-year average.

Read More »

May 15th, 2017

Market Summary for Week of May 8 - 12, 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 jumped last week and into Monday of this week, reversing the losses of the previous week. Saudi Arabia and Russia announced over the weekend that they had jointly agreed to extend the production cuts through March, pending approval by the other participating members. Natural gas prices also rose last week as the weekly storage injection fell short of average gains and analyst projections. Inventories gained 45 Bcf, compared to the average of 73 Bcf, narrowing the storage surplus to 13.6% to the 5-year average.

Read More »

May 8th, 2017

Market Summary for Week of May 1- 5, 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 plummeted last week, bringing total losses to almost 14% over the past three weeks. The US production rate continues to inch up, climbing to a 20-month high and offsetting the market impact of the OPEC cuts. Natural gas market movement was mixed last week and prices were relatively unchanged week-over-week. Storage surplus has hovered near 15% for over a month, and mild weather forecasts indicate that cooling demand may remain tepid in the coming weeks.

Read More »

May 1st, 2017

Market Summary for Week of April 24 - 28, 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 on the NYMEX continued the previous week’s decline, bringing the 2-week drop to 7-8%for contracts in the next 12 months. US production has increased for 10 straight weeks, keeping a lid on prices, although refinery rates are increasing in preparation for the summer driving season. Natural gas prices rose, largely reversing the previous week’s losses. This week’s larger-than-average storage injection was overshadowed by forecasts of a warm weekend that could boost cooling demand and power burn.

Read More »

« 1 2 3 4 5 »