More Economics & Oil Market News

EIA: OECD-Europe consumed less gas, more coal due to multiple factors

Since 2011, natural gas consumption of European member countries of the Organization for Economic Cooperation and Development has been generally declining, and coal consumption has been generally increasing, due to “a confluence of supply and demand factors, in both the gas and coal markets, as well as other economic constraints,” according to the US Energy Information Administration.

MARKET WATCH: Oil, gas prices fall amid fears of partial US government shutdown

Fears of a partial US government shutdown weighed heavily on New York markets Sept. 27, with crude and natural gas each dropping 1.4%.

Reviving price controls

British leadership continues in the global race to self-destruct via energy fiat. The position seemed under threat when the government began discussing lower subsidies for renewable energy sources.

MARKET WATCH: Oil fundamentals shift, balances remain ‘constructive,’ Barclays notes

“Oil market fundamentals and the geopolitical catalysts driving price momentum continue to pass through revolving doors,” said an analyst with Barclays Capital Inc.

WoodMac: Unconventional production changing energy trade patterns

North America will become energy independent by 2020 and will become a net energy exporter, Wood Mackenzie Ltd. researchers said, adding that they expect the US and Canada will remain key participants in world markets.

EIA: Higher gas prices drive down gas-fired power generation

Natural gas use for electric power generation in the US slipped 14% during the first 7 months of 2013 compared with the same period last year, mainly because of higher gas prices relative to coal prices, according to the US Energy Information Administration.

MARKET WATCH: NYMEX oil prices drop for fifth consecutive trading session

Oil prices continued their downward trend Sept. 25 following an unexpected increase in US oil inventories and on the possibility that some international sanctions against Iran might be reduced pending ongoing talks at the United Nation. 

Indian minister requests long-term crude supply from Venezuela

Citing the “increasing appetite” for crude at Indian refineries, India’s minister for petroleum and natural gas has requested long-term supplies from Venezuela.

MARKET WATCH: NYMEX crude oil futures settle lowest since July 30

Crude oil prices fell Sept. 24 with the November contract for light, sweet crude settling at $103.13/bbl, which marked an 8-week low on the New York Mercantile Exchange amid diplomatic maneuvering at the United Nations where Iran seeks improved relations with the West.

EIA explains steep backwardation of WTI futures curve

Over the past 6 months, the front month price of West Texas Intermediate oil futures has been pushed up relative to later months, leading to a steepened backwardation of the WTI futures curve.

MARKET WATCH: Crude prices continue down, natural gas dips

Crude oil prices fell Sept. 23 on New York and London markets while analysts and traders awaited speeches at the United Nations, where Iran seeks improved relations with the West in hopes of ending an international embargo on Iranian oil sales and loosening other sanctions.

MARKET WATCH: Crude prices end week down, natural gas flat

Crude oil prices fell on the week “after military operations in Syria by the West never materialized,” observed analysts with Raymond James & Associates Inc.

Global action urged on Nigerian oil theft

Oil theft in Nigeria, a large but murky problem, needs a nuanced, international response, argues a new report by Chatham House, London.

MARKET WATCH: Oil prices ease as market anxieties recede

Global oil prices continued to decline Sept. 19 as market anxiety about turmoil in the Middle East continued to subside, according to analysts at Barclays Capital Inc.

API: US oil production reaches 25-year August high

US crude oil production reached a 25-year high for August of nearly 7.6 million b/d, according to the American Petroleum Institute’s monthly statistics for August.

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Optimizing Careers for Oil and Gas Leaders Through Professional Short Courses at Colorado School of Mines

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