Hurricanes, Inventory & Nord Stream Concerns Keep Diesel Volatile
Volatility continues to have a hold on the diesel market. In the past week alone, we have dropped over $.30 and subsequently rose $.30 in just four sessions.
Energy Market Updates
Posts about:
natural gas
Spiking Prices & Labor Shortages Complicate Energy Outlook
Lots of interconnected events in Energy News this past week or so – we’ll run through and touch on some of the major items and attempt to keep it (relatively) brief.
Today's Takeaways from the EIA Short Term Energy Outlook
The US Energy Information Association - EIA - is out today with the Short Term Energy Outlook report with projections for 2019 & 2020.
EIA Long Term Projections Dampen Inventory Effects
WTI was in the red today ahead of the EIA inventory report.
Two to Contango - Weather & Supply Crush WTI & Nat Gas
Another day, another price drop.
EIA Projections for 2015 & 2016 Released Today
The EIA released its Short Term Energy Outlook today with its projections for both Crude prices and US Crude Oil production through 2016. It also projects where we will be on retail gasoline, natural gas storage, and electricity for 2015 & 2016.
Inventories and Saudi Market Moves Continue to Push Oil Prices Down
Oil continued downward today on the back of the EIA inventory report for last week that indicated Crude stockpiles were up 9mmbl to a record high of about 407mmbbls. At the close, Crude dropped below $45/bbl, -1.78 to 44.45. ULSD and RBOB closed lower as well, ULSD settling down .0310 to 1.6318, and RBOB settled down .0051 to 1.345.
In addition to the inventory report, as we mentioned, the new Saudi leader has indicated the largest OPEC producer will continue on its track to hit production goals set. Both of these factors mean traders are still concerned with longterm over supply, which is continuing to drive down prices.
"Polar Vortex" saw Nat Gas hit Record Highs
Natural gas hit $5/mmBTU on the NYMEX for the first time in over 3 years last week, over concern about supply and a increase in demand due to to continuing frigid temperatures throughout the country. As of Jan 30, prices have backed off some but the underlying supply issues behind the spike may still play a relevant role in Nat Gas volatility going forward.