MARKET INTELLIGENCE & INDUSTRY NEWS

Aug 15, 2016
3 min

Shale gas production drives world natural gas production growth

In the U.S. Energy Information Administration's International Energy Outlook 2016 (IEO2016) and Annual Energy Outlook 2016 (AEO2016), natural gas production worldwide is projected to increase from 342 billion cubic feet per day (Bcf/d) in 2015 to 554 Bcf/d by 2040. The largest component of this growth is natural gas production from shale resources, which grows from 42 Bcf/d in 2015 to 168 Bcf/d by 2040. Shale gas is expected to account for 30% of world natural gas production

Aug 15, 2016
3 min

EIA-Short-Term Energy Outlook

NATURAL GAS Working natural gas inventories were 3,288 billion cubic feet (Bcf) as of Friday, July 29 ( Full Report ), 6 Bcf lower than the previous week, marking the first draw during the June-August period since 2006. Injections during the refill season have fallen short of five-year average levels in most weeks because of the high use of natural gas for electricity generation and because of slight declines in production. However, warm weather last winter left inventories a

Aug 11, 2016
2 min

EIA Natural Gas Storage Report 8-11-16

Leading up to todays EIA Natural Gas Storage Report, Natural gas prices ended lower on Friday due to all the good news being out regarding the warmer than normal weather for the 6-10 day forecasts. The September wholesale natural gas contract fell $0.062 settling at $2.772 on the day or 2.22%, The U.S. Energy Information Administration (EIA) reported last Thursday morning that U.S. natural gas stocks decreased by 6 billion cubic feet for the week ending July 29. Analysts surv

Aug 10, 2016
2 min

EIA's Weekly Crude Inventory Report 8-10-16

WTI crude oil futures saw some immediate volatility following the EIA’s inventory, initially seeing some gains, but have started to trend lower and into negative territory. The initial reaction seemed positive as the government reported a smaller build for crude stocks than the API had last night, despite expectations for light builds. The larger than expected declines in gasoline and distillate stocks also supported crude prices, but the swift decline in refinery utilization

Aug 9, 2016
2 min

High natural gas-fired generation leads to rare summer net national weekly storage draw

Working natural gas storage inventories posted a rare summer net withdrawal of 6 billion cubic feet (Bcf) for the week ending July 29, 2016 (seen here), according to EIA's Weekly Natural Gas Storage Report. Record-high consumption of natural gas for electric power generation drove this withdrawal. Although withdrawals in the summer are not unprecedented, and happen regularly in the South Central storage region, the last time a net withdrawal in July occurred on a national bas

Aug 4, 2016
2 min

EIA Natural Gas Storage Report 8-4-16

Leading up to todays EIA Natural Gas Storage Report, Natural gas prices rose Wednesday as weather reports got slightly hotter, natural gas traders expected a potentially historically low weekly surplus and others tried to capitalize on a recent fall. Natural gas for September delivery settled up 10.6 cents, or 3.9%, at $2.839 a million British thermal units on the New York Mercantile Exchange. The market has now given back nearly all its losses from the past two sessions. Nat

Aug 3, 2016
2 min

EIA's Weekly Crude Inventory Report 8-3-16

WTI crude oil futures initially gave back the pre-report gains, but quickly added them back following the EIA’s inventory report. The government reported that crude stocks had increased despite expectations and the API’s reports last night that crude stocks had been drawn down. The substantial draw down from gasoline inventories was the lone bright spot of the report, with distillates showing a surprise build as refiners hiked output. See last weeks report ( here). SUMMARY: U

Jul 31, 2016
2 min

Changing U.S. energy mix reflects growing use of natural gas, petroleum, and renewables

Primary energy consumption fell slightly in 2015 as a decline in coal use exceeded increases in natural gas, petroleum, and renewables use. In most cases, changes between 2014 and 2015 reflect longer-term trends in energy use. In 2015, natural gas consumption increased more than any other energy source, accounting for 29% of total primary energy consumption. As domestic natural gas production continues to reach record levels, natural gas prices have remained low. Low natural

Jul 28, 2016
2 min

EIA Natural Gas Storage Report 7-28-16

Leading up to todays EIA Natural Gas Storage Report, wholesale contracts continued its losing streak on Wednesday, as natural gas traders looked ahead to fresh weekly information on U.S. gas inventories to gauge the strength of demand for the fuel. Natural gas for delivery in September on the New York Mercantile Exchange lost 1.7 cents, or 0.56%, to settle at $2.660 per million British thermal units. U.S. utilities likely injected just 26 billion cubic feet of natural gas in

Jul 27, 2016
2 min

EIA's Weekly Crude Inventory Report 7-27-16

WTI crude oil futures erased this morning’s gains following the weekly EIA Inventory Data which showed U.S. crude and gasoline stocks rose unexpectedly last week, while distillate inventories fell despite expectations of a build. See last weeks report ( here). SUMMARY: U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending July 22, 2016, 277,000 barrels per day less than the previous week’s average. Refineries operated at 92.4% of their op

Jul 21, 2016
2 min

EIA Natural Gas Storage Report 7-21-16

Leading up to todays EIA Natural Gas Storage Report, wholesale contracts fell on Wednesday, with the commodity falling under pressure as natural gas traders begin to doubt about the sustainability of the rally. Natural gas wholesale contracts have rallied this spring and summer amid increased demand for the commodity to generate electricity and power air conditioners. Natural gas contracts started July at a one-year high, after rallying 50%, but as the month has gone on the r

Jul 14, 2016
2 min

EIA Natural Gas Storage Report 7-14-16

Leading up to Thursday's EIA Natural gas Storage, wholesale contracts edged higher on Wednesday, regrouping after their recent string of losses as long-range forecasts showed hot and humid conditions across portions of the US. This change in weather should increase air conditioner use and, therefore, demand for natural gas from utilities to generate electricity should also rise. Tuesday the EIA reported that it expects the US will become a net exporter of natural gas by the s

Jul 13, 2016
2 min

EIA's Weekly Crude Inventory Report 7-13-16

WTI crude oil tacked onto earlier losses following this week’s EIA inventory report despite the report’s contradicting numbers to last night’s reported build in crude stocks from the API, as the government revealed a draw that was slightly lower than expectations. The highlight of the report was a much larger than expected build in distillate inventories. Additionally, gasoline stocks saw a surprise build despite refiners marginally slowing up production. SUMMARY: U.S. crude

Jul 7, 2016
2 min

EIA Natural Gas Storage Report 7-7-16

Leading up to Thursday's EIA Natural gas Storage, wholesale contracts were down again on Wednesday morning, one day after posting its biggest daily loss in eight months as warm temperatures in key U.S. gas-consumption regions gave way to cooler readings. Natural gas for delivery in August on the New York Mercantile Exchange fell to a session low of $2.697 per million British thermal units, its weakest since June 27then settled slightly higher at $2.786, up 2.2 cents, or 0.79%

Jul 5, 2016
2 min

Fossil fuels still dominate U.S. energy consumption despite recent market share decline

Three fossil fuels—petroleum, natural gas, and coal—have provided more than 80% of total U.S. energy consumption for more than 100 years. In 2015, fossil fuels made up 81.5% of total U.S. energy consumption, the lowest fossil fuel share in the past century. In EIA's Annual Energy Outlook 2016 Reference case projections, which reflect current laws and policies, that percentage declines to 76.6% by 2040. Policy changes or technology breakthroughs that go beyond the trend improv

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