Eia

After jumping a week earlier, domestic oil inventories dropped during the week ended Dec. 11, the U.S. Energy Information Administration (EIA) said Wednesday.   EIA said in its Weekly Petroleum Status Report that U.S. commercial crude oil inventories — excluding those in the Strategic Petroleum Reserve — decreased by 3.1 million bbl from the prior week.…

After sinking to their lowest levels in more than two years over the summer, U.S. liquefied natural gas exports surged to a record high in November, according to the Energy Information Administration (EIA). The agency said U.S. LNG exports reached 9.4 Bcf/d last month, surpassing the previous record set in January on strong global demand…

The U.S. Energy Information Administration (EIA) reported a 91 Bcf withdrawal from natural gas storage inventories for the week ending Dec. 4, coming in above estimates that clustered around a draw in the mid-to-high 80s Bcf. Natural gas futures, already a few cents higher ahead of the EIA report, skyrocketed once the print hit the…

U.S. oil inventories spiked during the week ended Dec. 4 as petroleum demand only ticked up slightly and remained below year-earlier levels amid new economic restrictions imposed to slow coronavirus outbreaks, according to the Energy Information Administration (EIA). In its Weekly Petroleum Status Report (WPSR), EIA said Wednesday U.S. commercial crude oil inventories, excluding those…

As if Wednesday’s 10-cent decline wasn’t enough, another warmer shift in the latest weather models sent January natural gas futures into a freefall early Thursday. A huge bearish miss on the latest storage data hammered the final nail in the coffin, with the January Nymex contract settling the day 27.3 cents lower at $2.507. February…

The U.S. Energy Information Administration (EIA) reported a 1 Bcf withdrawal for the week ending Nov. 27, coming in more than 10 Bcf below consensus for the reporting period that included the Thanksgiving holiday. Natural gas futures already were sharply lower Thursday morning as the latest weather models dimmed hopes for mid-December cold. Ahead of…

U.S. petroleum use decreased for a third-consecutive week, with gasoline and jet fuel demand both declining during a period that, in typical years, is marked by heavy travel around the Thanksgiving holiday. In its latest Weekly Petroleum Status Report covering the period ended Nov. 27, the Energy Information Administration (EIA) said Wednesday that overall petroleum…

Petroleum demand in the United States declined around 2% last week as motor gasoline use fell, while demand for jet fuel saw an uptick for the period leading up to the Thanksgiving holiday, according to the latest data from the Energy Information Administration (EIA). In its updated Weekly Petroleum Status Report, EIA recorded roughly 19.2…

U.S. natural gas prices are forecast to average $3.30/MMBtu in 2021, with even higher prices predicted next summer, according to BofA Securities. The analyst team led by Francisco Blanch, head of commodities and derivatives research, discussed the outlook for energy overall during a webcast on Tuesday.  “The bottom line is that higher prices are needed…