More Economics & Oil Market News

MARKET WATCH: Crude oil futures down, gas up in mixed markets

The New York Mercantile Exchange April crude oil contract declined $1.46 on Mar. 10, closing at $101.12/bbl. The May contract lost $1.40 to $100.59/bbl.

MARKET WATCH: Crude oil, gas futures end week flat

The front-month crude oil contract was flat on the week ended Mar. 7. Natural gas, while bouncing around a bit, also ended the week flat.

MARKET WATCH: Oil futures price keeps above $101/bbl

The New York Mercantile Exchange April crude oil contract closed at $101.56/bbl on Mar. 6, rising 11¢. The May contract rose 14¢ to $101.02/bbl.

MARKET WATCH: NYMEX crude oil futures settle under $102/bbl

Crude oil futures prices on the New York market dropped to their lowest level in more than 2 weeks, which analysts attributed partially to easing concerns about supply disruptions in Eastern Europe and partially to weekly US government inventory reports.

IHS CERAWeek: Shale gas gives US competitive advantages

The US holds ample reserves of natural gas to help supply rising world gas demand, particularly for gas-fired electric power generation in Asia, speakers told the IHS CERAWeek energy conference during the Mar. 5 opening gas keynote speech and the global gas plenary.

Gazprom to discontinue natural gas price discount for Ukraine

OAO Gazprom plans to discontinue its natural gas price discount for Ukraine in April.

MARKET WATCH: Oil futures prices drop on Putin comments about Ukraine

Oil prices fell by more than $1/bbl on the New York and London futures markets on Mar. 4, and analysts said the drop corrected what some are now calling an overdone Mar. 3 price rally triggered by tensions between Russia and Ukraine.

Obama administration 2015 budget request retains punitive measures

The White House proposed repealing six federal tax code provisions it considers unnecessary breaks for the oil and gas industry in its fiscal 2015 budget request. The repeals essentially repeated those in its fiscal 2014 budget request, and quickly drew fire from industry leaders.

EIA: Historically stable crude oil prices seen in 2013

North Sea Brent crude oil—the most important global benchmark for waterborne light sweet crude—traded in the narrowest price range since 2006 last year, according to the US Energy Information Administration. Historical price volatility in 2013 also was at its lowest level in more than a decade.

IHS CERAWeek: Oil executives cite rising business costs

Demand for all types of energy continues to increase as oil and gas companies adapt to handle the ever-rising costs of finding and producing hydrocarbons, said the chief executive officers of Chevron Corp. and BHP Billiton during the IHS CERAWeek conference on Mar. 4.

MARKET WATCH: Oil futures rally on Ukraine concerns

Crude oil prices on both the New York and London markets rallied Mar. 3 upon increasing tensions between Russia and Ukraine, which analysts said boosted fears of possible disruptions to global oil supplies.

IHS CERAWeek: Murkowski to ask EIA for analysis of US oil exports

US Sen. Lisa Murkowski (R-Alas.) told IHS CERAWeek participants on Mar. 3 that she plans to ask the US Energy Information Administration for an economic analysis regarding the lifting of the ban on crude oil exports.

MARKET WATCH: Crude oil futures prices end month higher

Crude oil futures prices ended the week higher Feb. 28 and overall, ended the month higher as well.

MARKET WATCH: Crude oil, gas futures prices down

The New York Mercantile Exchange April crude contract declined 19¢ on Feb. 27, closing at $102.40/bbl. The May contract dropped 15¢ to settle at $101.62/bbl.

MARKET WATCH: NYMEX oil prices rise modestly on slim inventory gain

Crude oil prices rose modestly on the New York market Feb. 26 following a weekly government report showing crude oil inventories grew although the gain was less than analysts had expected.

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