More Economics & Oil Market News

MARKET WATCH: Oil prices continue down on London, New York markets

Crude oil prices on the New York market dropped modestly on July 8, settling down for the seventh consecutive session while oil prices on the London market dropped by more than $1/bbl, marking Brent’s sixth consecutive trading session that ended with a decline.

EIA expects higher gasoline prices for driving season, full year

During the April-September summer driving season this year in the US, regular gasoline retail prices will average $3.66/gal, 8¢/gal higher than last year and 4¢ higher than projected last month, according to a forecast from the US Energy Information Administration in its July Short-Term Energy Outlook (STEO).

Mongolian petroleum law passage aims to boost foreign investment

Wolf Petroleum Ltd., Perth, reported the passing of a new petroleum law in Mongolia designed to boost foreign investment in the country.

MARKET WATCH: NYMEX crude, gas futures settle lower

Crude oil prices on the New York market declined in trading July 7 as did natural gas futures prices on forecasts for cooler temperatures in the US Midwest and Northeast for 6-10 days.

US industrial gas use seen up 19% by 2020

New projects will boost industrial use of natural gas in the US during 2012-20 by 19%, according to the Center for Energy Economics (CEE), part of the Bureau of Economic Geology at the University of Texas at Austin.

MARKET WATCH: Crude oil futures end shortened week trading lower

The New York Mercantile Exchange August crude oil contract lost 42¢ on July 3, closing at $104.06/bbl. The September contract declined 40¢ to $103.51/bbl. Markets were closed on July 4 for a holiday in the US.

MARKET WATCH: Libyan news contributes to lower crude oil futures prices

An agreement between the Libyan government and rebels to reopen two oil ports in eastern Libya contributed to a slip in crude oil prices in July 2 trading in both New York and London markets although analysts noted that similar agreements have fallen through in recent months.

Chile looking to gas to meet energy demand, energy minister says

Chile is focusing most of its attention on natural gas to meet the country’s energy demand challenges, stated Maximo Pacheco Matte, the newly appointed Minister of Energy, during a July 2 panel discussion in Houston.

EIA: US gasoline reaches highs heading into Fourth of July

US national average retail gasoline price on June 30 was $3.70/gal, the highest average heading into the Fourth of July holiday since 2008. Gasoline prices in 2014, however, have remained well below the spring peaks reached in each of the previous 3 years, according to the US Energy Information Administration.

MARKET WATCH: Oil futures drop slightly in mixed July 1 energy market

Crude oil prices for August delivery fell marginally on the New York market July 1 while other energy commodity prices were mixed upon what analysts called easing short-term worries over Iraqi oil supply and as US market participants awaited a weekly government inventory report.

MARKET WATCH: Oil futures prices ease; Brent stays above $112/bbl

Crude oil prices for August delivery on the New York market fell for a third consecutive session on June 30, and analysts noted the front-month price reached its lowest level since June 11, which was the day before crude prices had spiked upon concerns about possible interruptions to Iraqi crude supply.

AFPM’s Drevna says more clarity needed on future condensate exports

The oil and gas industry awaits greater clarification from the US Department of Commerce’s Bureau of Industry and Security (BIS), which recently issued private rulings for two companies concerning condensate specifications and possible exports.

MARKET WATCH: WTI crude posts first weekly loss in 3 weeks

West Texas Intermediate crude posted its first weekly loss in 3 weeks “as the immediate threat of losing Iraqi oil supply seemed to lessen,” said analysts at Raymond James & Associates Inc.

MARKET WATCH: Oil, gas futures prices continue to wane after hitting highs

Oil and natural gas futures prices continued to wane after hitting highs earlier in the week.

EIA: Fuel economy standards to cut gasoline use through 2040

More-stringent vehicle fuel economy standards will contribute to a decline in gasoline consumption through 2040, the US Energy Information Administration projected in the reference case in its Annual Energy Outlook 2014.

Market Connections

Successful, small, private E&P Company in Covington, LA has opening for experienced Petroleum Engineer. Work with Mgmt and Earth Scientists, limited supervision, well-organized, team player.  Exp performing O&G well file research, compiling data, preparing AFEs, economics, writing procedures and recommendations.  Exp in supervising workovers, well intervention projects, and knowledge of ops in both onshore and inland waters.  Petroleum Engineering degree or equivalent.  Exp in planning and executing sidetracks and new drills preferred.   Communication skills a must.   Current BOP cert preferred.  Comp benefits.

Gulf Coast Petroleum Engineer

Successful, small, private E&P Company in Covington, LA has opening for experienced Petroleum Engineer. Work with Mgmt and Earth Scientists, li...
Vantage Drilling

Currently Hiring Positions in the Gulf of Mexico

Vantage Drilling is an international offshore drilling contractor which operates and manages a fleet of modern, high specification drilling rigs on...
chemark

Now Searching: Director of Innovation, Oilfield Chemicals

Now Searching: Director of Innovation Oilfield Chemicals: Position is responsible for leadership in identification and development of new product n...
Large Capacity Natural Gas Pipeline located in South Texas Eagle Ford Shale Area. Growing company is currently seeking qualified candidates for IMMEDIATE OPENINGS: Gas Pipeline Compressor Station Operator, Gas Pipeline Compressor Station I&E Technician, Gas Pipeline Compressor Station Maintenance Technician.

Growing company is currently seeking qualified candidates for IMMEDIATE OPENINGS

Large Capacity Natural Gas Pipeline located in South Texas Eagle Ford Shale Area. Growing company is currently seeking qualified candidates for IMM...
Transocean

Are You Ready to Unlock Your Potential?

WE UNLOCK POTENTIAL. Our mission is to unlock the world’s natural resources from the deepest parts of the ocean. We know it takes a team of driven,...

Oil & Gas Conferences

  • List View
Event Title Date Type

Offshore Middle East Conference & Exhibition

January 26, 2015
Stay Connected