Author Archive: Jordan Gleason

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Oil price, Hurricane, SDX Energy, Pantheon, Genel, Premier And finally…

Even with a decent bounce on Friday the week ended on a downward note, WTI lost $1 and Brent 33c as geopolitics wrestled with inventory oddities and of course the strong greenback encouraged by a likely rate hike didnt help. I am in Dubai for a few days so will try and test the mood […]

By December 13, 2017 0 Comments Read More →

OPEC wakes up to the threat of U.S. shale 2.0

OPEC predicted that global oil markets won’t rebalance until late next year after boosting forecasts for supplies from the U.S. and other rivals. The Organization of Petroleum Exporting Countries’ monthly report raised its outlook for non-OPEC supply in 2018 by 300,000 a barrels a day, as its projections for American output caught up with those […]

By December 13, 2017 0 Comments Read More →

Global oil field spending set to rise by $25 billion in 2018, led by U.S., survey says

Energy companies will boost capital spending in the U.S. oil patch next year, but their investments won’t grow nearly as much as this year, a new report said Wednesday. The oil industry’s capital expenditures – the lifeblood of the oil field service companies that employ thousands of people in Houston and across Texas – will […]

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Gas prices even for now, but British pipeline problem could change that

Retail U.S. gasoline prices are holding steady, but it remains to be seen how much of a spike to expect from a British pipeline outage, an analyst said. Motor club AAA reports a national average retail price for regular unleaded Tuesday at $2.46 per gallon, a slight decline from Monday, but more or less stable […]

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Oil prices settle down, but still higher on North Sea outage

The perfect storm of a healthy appetite from China, a decline in global inventories and a major North Sea pipeline outage sent oil prices higher on Tuesday. After a relatively quiet start to the day, Brent crude oil prices shot up 2 percent during Monday’s session after pipeline operator Ineos shut down the Forties crude […]

By December 13, 2017 0 Comments Read More →

Contracts awarded for Iraqi oil export terminal overhaul

London-listed oil and gas services company Petrofac said Wednesday it secured a $160 million contract to help overhaul a southern Iraqi oil port. The company said it secured the contract from Basra Oil Co., known previously as South Oil Co., for an expansion project from a terminal about 40 miles off the southern coast that’s […]

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Australia gas supply crunch eases, prices still too high -regulator

The shortfall in Australia’s gas supply has eased, the country’s consumer watchdog said on Wednesday, but warned that prices remained high due to a lack of competition in supply, limited pipeline space and high transport costs. The nation’s gas sector has come under scrutiny as soaring prices and short supply hurt households and threaten manufacturing […]

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As China gas crisis deepens, factories, homes lose supply

The southern Chinese province of Hunan has warned of natural gas shortages, an official said on Wednesday, as producers rush to divert fuel to heat northern homes with temperatures plummeting and factories across the country losing supplies of the fuel. The so-called “yellow” warning was issued on Tuesday, the latest sign that gas shortages are […]

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Oil Rig Count Could Push Natural Gas Prices Lower

In the week ending December 8, 2017, the natural gas rig count was 88.8% below its historical high of 1,606 in 2008. However, the fall in the natural gas rig count hasn’t had a direct impact on natural gas supplies from 2008 to date. Natural gas supplies increased during this period. A higher oil rig count […]

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Natural Gas Price Fundamental Daily Forecast – Price Collapse Tied to Expectations of Another Warm Winter

Expectations of another warm winter this season triggered a collapse in natural gas prices on Tuesday. The move was so severe that it caused natural gas futures traders to drive a full calendar strip to its lowest level on record, according to analysts and Reuters data going back two years. Reuters also said that those […]

By December 13, 2017 0 Comments Read More →