Market Journal
December cold increases energy prices
December 5, 2005
After a warm November that undercut demand, energy prices rallied in early December on indications of sustained US economic growth and predictions for below-normal temperatures.
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Analysts divided on gas price outlook
November 28, 2005
Financial analysts differ over whether natural gas prices are going up or coming down and how the market may react to them.
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Energy prices fluctuate with weather and supplies
November 18, 2005
Energy prices seesawed up one day, down the next Nov. 11-17 as traders reacted to changes in weather and reports of US petroleum inventories.
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IEA urges caution on demand-destruction data
November 14, 2005
The sharp drop in US product deliveries in the wake of Hurricanes Katrina and Rita has sparked speculation about demand destruction, but the data "must be interpreted with caution," said International Energy Agency.
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Energy prices remain volatile
November 7, 2005
Energy prices were volatile during the week ended Nov. 4 as traders reacted to reports of increased crude stocks, warmer-than-normal weather, and continued recovery of storm-damaged oil and gas production and processing facilities along the US Gulf Coast.
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Demand erosion worries markets
October 17, 2005
Crude futures prices fell Oct. 13-14 as traders tried to ward off the spectre of demand erosion yet finished the week up by more than 1% at $62.63/bbl on the New York Mercantile Exchange.
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Hurricane effects evident in industry data
October 12, 2005
Effects on the US oil industry of two major hurricanes in less than a month were evident in an Energy Information Administration report Oct. 5.
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OPEC faces dilemma in Vienna meeting
September 19, 2005
Going into their Sept. 19 meeting, OPEC members were under heavy pressure to raise their production ceiling.
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Recovery of LOOP, pipelines vital
September 6, 2005
The Louisiana Offshore Oil Port was operating nearly at capacity Sept. 5, awaiting restoration of power to the Clovelly, La., storage facility.
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Was Katrina as destructive as Ivan?
August 29, 2005
Just hours after Katrina, a category 4 hurricane, roared ashore 70 miles south-southeast of New Orleans on Aug. 29, analysts were speculating whether the storm's residual damage might be as bad as the highly destructive Hurricane Ivan nearly a year earlier.
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Crude prices explore new highs
August 15, 2005
Crude futures prices escalated to record highs in four out of five trading sessions Aug. 8-12 on the New York Mercantile Exchange.
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Oil price sets records; gas up sharply
August 8, 2005
The September contract for benchmark US sweet, light crudes set records for the top intraday trading and closing prices, while natural gas for the same month soared to a 9-month high during the first week of August.
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Questions raised over 'demand pessimism'
July 25, 2005
After the International Energy Agency and Organization of Petroleum Exporting Countries lowered their forecasts for annual average oil demand this year, analyst Paul Horsnell of Barclays Capital Inc. in London questioned the accuracy of what he called "demand pessimism."
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More natural gas drilling likely
July 18, 2005
A "higher-than-expected level of drilling" is likely in the near future since already robust activity has failed to stem declines in US natural gas production, say industry analysts.
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Demand, price, and surprises
July 11, 2005
Energy futures prices skyrocketed to all-time highs on July 6, with crude topping $61/bbl on the New York Mercantile Exchange among fears that Hurricane Dennis might disrupt oil and gas production in the Gulf of Mexico.
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Volatile but robust energy prices to continue, analysts say
July 4, 2005
Crude oil futures prices for August delivery settled at $60.54/bbl on June 27 on the New York Mercantile Exchange—marking the first time crude oil has settled at $60 or higher since NYMEX began trading oil futures in 1983.
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Energy prices riding high
June 27, 2005
Crude futures prices continued to test record highs in the wake of the symbolic attempt by the Organization of Petroleum Exporting Countries to deflate energy costs by raising its production quota to match existing output.
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Prices rise with OPEC quota hike
June 20, 2005
Crude futures prices rocketed to record highs just days after members of the Organization of Petroleum Exporting Countries voted June 15 to raise the cumulative production quota for 10 members, minus Iraq, by 500,000 b/d to 28 million b/d, effective July 1.
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Mexican production may be near peak
June 13, 2005
Current crude production in Mexico, the largest source of foreign oil for the US market, appears "at the very least" stagnant and may be close to peaking, analysts in the Houston office of Raymond James & Associates Inc. reported June 13.
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June energy market prices fluctuate
June 6, 2005
Energy commodity prices had a rocky ride in the first 3 days of June, starting with a surprise June 1 rally that seemed to defy market fundamentals as the July contract for benchmark US sweet, light crudes shot up by $2.63 to $54.60/bbl on the New York Mercantile Exchange.
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