Crude oil inventories post 1-MMBbl build

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 1.0-MMBbl build last week, lower than the API expectation of 2.63 MMBbl, but in line with the Reuters poll of analysts expectations, which averaged 1.2 MMBbl. Read Ponderosa’s visual chart here: PonderosaEnergyWPSR11202015 Total commercial petroleum inventories increased for a third week in a row, posting […]

EIA reports 9-Bcf injection for week ended Nov. 20

By Maria Sanchez Ponderosa Energy Natural gas storage inventories went up by 9 Bcf for the week ended Nov. 20, according to EIA’s storage report released Wednesday. This is the second time in the past five years that an injection has been reported during the third week of November. In contrast, a draw of 141 […]

Natural gas inventories at 4 Tcf; now what?

US storage inventories of natural gas hit an all-time high of 4 Tcf (4,000 Bcf) for the week ended Nov. 13, after EIA today reported a 15-Bcf injection. The 4-Tcf mark has been expected since early summer as production growth continued to outpace demand growth. The 4-Tcf record will likely be topped next week, as […]

Crude inventories up slightly; prices just above $40

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 0.3-MMBbl build last week, higher than the API release of -0.48 MMBbl from Wednesday afternoon. The Reuters poll of analysts had expected a higher number averaging 1.9 MMBbl, with the low being a draw of 1.0 MMBbl and the high a build of 3.1 MMBbl. […]

Inventories close to 4 Tcf after 49-Bcf build

By Maria Sanchez Ponderosa Energy EIA today said natural gas storage inventories posted a 49-Bcf build for the week ended Nov. 6, moving total inventories to a record-high 3.978 Tcf. Preliminary market expectations are for another build this week (for the week ended Nov. 13), which would likely move inventories above the 4-Tcf level for […]

Crude oil inventories rise another 4.2-million barrels

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 4.2-MMbbl build last week according to EIA, below the API expectation of 6.2 MMbbl. The Reuters’ poll of analysts reported a much lower expected build, at an average of 1.0 MMbbl, with a high of 3.5 MMbbl. The higher-than-expected numbers caused prices to drop starting […]

Oil prices falling along with rig count

Baker Hughes today said the number of active drilling rigs in the U.S. fell by four over the past week, to 771. There were six fewer oil-directed rigs operating, with a total of 572 active. Gas-directed rigs increased by two, to 199. Today’s oil rig count is at its lowest level since June 2010, according […]

Natural gas prices higher after 52-Bcf injection

By Maria Sanchez Ponderosa Energy An injection of 52 Bcf for the week ended Oct. 30 closes the traditional injection season for the natural gas storage market, though injections could continue later into November. Today’s number is a bullish injection compared to the high 50s expected by market players and also when compared to the […]

Crude inventory build in line with estimates

By Sarp  Ozkan Ponderosa Energy Crude oil inventories posted a 2.8-MMBbl build last week, according to data today from EIA. The build is in line with analyst estimates and API data. Total commercial petroleum inventories declined 2.3 MMBbl on strong gasoline draws of 3.3 MMBbl. Distillate inventories decreased by 1.3 MMBbl and propane/propylene inventories rose […]