U.S. crude inventories fall 5.9-million barrels

EIA on Wednesday said U.S. commerical inventories of crude oil dropped by 5.9-million barrels during the week ended Dec. 18. Crude oil prices rallied on the news, with the February contract up $1.47 as of this writing to $37.61 (WTI). Brent rose $1.10 to $37.21. U.S. imports of crude oil also fell during the week, […]

Ponderosa Energy’s Weekly Market Bulletin

Natural gas is likely to continue to trade this week at the lowest levels since 1999. Forecasts call for a “blowtorch” weather pattern across the eastern US, which could bring the warmest Christmas Day temperatures on record to much of the Midwest, Southeast and East Coast. About 2,000 high-temperature records have been set in the Lower 48 through […]

FERC approves 7th U.S. LNG export terminal

FERC on Thursday gave its approval to construction of another U.S. liquefied natural gas export terminal. The agency backed the facility that would be operated by Energy Transfer’s Lake Charles LNG Co. and Trunkline Gas Co. in Louisiana. The companies sought approval in March 2014. The new export terminal will be built adjacent to the […]

Crude inventory build continues; prices fall

By Sarp Ozkan Ponderosa Energy Refinery inputs averaged 15.3 MMb/d last week (78 Mb/d higher than last week), but this was not enough to hold back an 8-million-barrel commercial crude oil inventory build. As per the nature of maintenance season, the crude inventory build was accompanied by a gasoline draw of 1.5 MMbbl and a distillate […]

Crude oil prices are still too high

DENVER, CO (Oct. 19, 2015) – Crude oil prices have fallen almost 60% since June 2014. But prices are still higher than the fundamentals suggest, and WTI prices that have traded in a range of $45 to $50 a barrel since late July still allow producers to economically produce in several areas. Production may have […]