Author Archive: Jordan Gleason

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US Atlantic Coast refiners face new threat in Buckeye proposal to reverse pipeline: Fuel for Thought

Storm clouds are gathering once again over US Atlantic Coast refineries, but unlike a few years ago when it was high oil prices causing a problem, this time the threat is coming from the Midwest. Hemmed in by geography, Midwestern refiners are looking east as a logical place to sell their gasoline and diesel. The […]

How The US Sets Global Oil And Gas Prices

The US is increasingly influential in price formation for crude and global gas markets. But tight oil and shale gas, through LNG exports to Europe, are likely to be cap and collar in their respective markets for the next few years – tight oil setting the ceiling price, US gas the floor. The big three […]

Oil Heads for Longest Gain in a Month as U.S. Supply Seen Lower

Oil advanced for a fourth day in New York, its longest run of gains in a month, on estimates that U.S. crude inventories continued their decline from record levels seen earlier this year. Futures added as much as 1.5 percent after rising 2 percent in the previous three sessions. Inventories probably dropped by 2.25 million […]

China, India Increased Coal Production While Shaming Trump For His Paris Decision

China and India were critical of President Donald Trump’s decision to withdraw from the Paris climate accord, but it turns out both countries boosted coal production about 4 percent during the first five months of this year. The Associated Press ran the numbers, and figured out China and India boosted coal production in the first half […]

US Crude Oil Rig Count: Turning Point for the Bear Market?

According to Baker Hughes (BHI), the US crude oil rig count rose by 11 to 758 on June 16–23, 2017. Rigs rose 1.5% week-over-week and 129.8% year-over-year. US crude oil rigs have risen for 23 straight weeks. The rise in crude oil rigs could lead to a rise in production. High production would pressure oil prices. […]

Japan regulator to brief on probe into LNG trading

Japan’s Fair Trade Commission (JFTC) said it will brief on its probe into liquefied natural gas (LNG) trading practices at 3 p.m. (0600 GMT) on Wednesday. The commission late last year ordered the country’s LNG buyers to provide details on contract requirements that prevent them from reselling the fuel to third parties. Markets have been […]

Cheniere launches $500 million LNG contract with Korea

Cheniere launches $500 million LNG contract with Korea

Korea Gas Corp. signed a 20-year supply agreement in January 2012 to buy liquefied natural gas from Cheniere Energy Inc.’s Sabine Pass export facility in Cameron Parish. On Sunday, the companies held a ceremony to mark the start of the deal at Sabine Pass. Under the contract, Korea Gas, known as KOGAS, can buy 3.8 […]

WSJ: US Fracking Revolution Revives American Plastics Industry

The fracking revolution that has resurrected energy drilling in the U.S. is having broader effects on reviving American industry, according to The Wall Street Journal. “That boom in drilling has expanded the output of oil and gas in the U.S. more than 57 percent in the past decade,” the newspaper reported. The re-birth of U.S. drilling […]

Is There Still Hope For Higher Oil Prices?

Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry. WTI dipped below $44 […]

Wall St set to open higher as oil prices recover

U.S. stocks were set to open higher on Monday as oil prices climbed from last week’s seven-month lows. Oil edged up for the third straight session but gains were capped by the relentless rise in U.S. supply and bloated global inventories. The recent drop in oil prices has spurred concerns about low inflation, which stubbornly […]