More Economics & Oil Market News

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.

MARKET WATCH: NYMEX crude oil, natural gas prices fall

Crude oil futures prices and natural gas prices fell on the New York market on Feb. 25 while analysts awaited a weekly government report that they correctly expected to show a sixth consecutive increase in US crude oil inventories.

MARKET WATCH: Crude oil prices rise on supply concerns

Crude oil futures prices rose on the New York and London markets during Feb. 24 trading, which analysts attributed to international political risks and supply reductions in some producing countries combined with a US tightness of petroleum products while refineries conduct seasonal maintenance.

Energybyfiat — 3: A Spanish reversal

The US government isn't alone in its struggle to make an unworkable renewable-fuels program work. European governments, too, have generated trouble by forcing noncommercial energy prematurely into markets.

Final UKCS production review details strategies, clarifies roles

The final report from the Wood Review of oil and gas operations on the UK Continental Shelf (UKCS) provides more details of the strategy for “maximizing economic recovery” (MER) there. The final recommendation outlines the roles of regulators and industry members, and identifies six sector strategies that the report claims could lead to a production increase of 3-4 billion boe over the next 20 years.

MARKET WATCH: Natural gas futures prices continue upward climb

Natural gas futures prices continued to climb Feb. 21, while crude futures were off slightly.

MARKET WATCH: Natural gas prices stay above $6/MMbtu

Natural gas futures prices settled lower Feb. 20 but still remained above $6/MMbtu on the New York market after a weekly government report showed underground gas storage volumes stayed slightly higher than analysts had expected given this winter’s snowstorms and freezing temperatures.

Potential chemical investment due to low gas prices tops $100 billion

Potential US chemical industry investment linked to plentiful and affordable natural gas and natural gas liquids from domestic shale formations has topped $100 billion, the American Chemistry Council announced.

Noble Energy to sell Tamar gas in Jordan

Noble Energy Inc. has signed an agreement to sell natural gas from Tamar gas field offshore Israel to businesses in Jordan.

Study notes boosts from US drilling boom

The US oil and gas drilling boom is creating jobs far faster than the general economy and generating enough wealth to prevent a lapse back into recession, according to a report published this month by the conservative Manhattan Institute.

MARKET WATCH: NYMEX oil prices climb above $103/bbl, natural gas soars

Natural gas prices soared on the New York market Feb. 19 while crude oil prices also climbed upon forecasts for more cold temperatures, which continue driving strong demand for natural gas and heating oil for heating. Natural gas and distillate inventories have declined this winter.

Crude exports would reduce US gasoline prices, RFF paper suggests

US crude oil exports would lead to more efficient use of the country’s refineries, resulting in more gasoline and lower prices, a Resources for the Future issue brief concluded.

EIA: Syria’s oil production unlikely to recover for months, maybe years

Syria’s oil and gas production is unlikely to recover in the near term because of ongoing hostilities between the Syrian government and opposition forces, the US Energy Information Administration said in an update to its country report on Syria.

CSIS speaker: Community benefits are key to next US gas phase

Communities should be able to continuously share economic benefits from increasing US tight oil and shale gas production, experts said.

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