Commodities

February 19 2013 2:31 PM

For the third week in a row Nat Gas futures are staging a short covering rally ahead of the weekly Nat Gas inventory report. The market is also getting an assist from the round of cold temperatures experienced so far this week along major parts of the country. Whether or not the rally is going to hold through the inventory report is a big question since this week's inventory withdrawal will be below both last year and the five year average and thus a bearish report.

February 19 2013 9:33 AM

The oil and gas game can be a tricky one for junior companies, but if played right the pay-off can be massive. At a time when juniors are risking a lot in volatile venues in the Middle East and Africa, Canada's Aroway Energy (ARW) is planting its feet firmly in homeland soil and in conventional plays.

February 18 2013 10:07 AM

Brent crude oil began the week trading steadily below $118 as geopolitical tension and an overall positive sentiment regarding the global economy supported prices. The commodity traded at $117.89 at 8:45 GMT on Monday morning. Data last week put pressure on Brent prices after eurozone nations posted large drops in GDP, indicating the region still had a long way to go toward recovery.

February 15 2013 9:29 AM

Brent crude oil dipped to $117.53 at 11:30 GMT on Friday after weak eurozone data signaled that the region's economy had a long road to recovery ahead. GDP data from the euro zone showed an economic contraction of 2.3 percent in the fourth quarter of 2012. The bloc's economy shrank at its quickest pace since the height of the global economic crisis in late 2009.

February 14 2013 9:07 AM

Brent crude oil traded steadily at $118.13 at 9:43 GMT on Thursday morning following news that the US and Iran failed to reach an agreement in talks about Iran's nuclear program. The commodity has been gaining momentum as the world's largest economies show signs of improvement and support speculation that the global economy is on the mend. However, data from the eurozone on Thursday dampened this sentiment as GDP figures for the fourth quarter of 2012 showed that Germany and France both contracted more than expected.

February 13 2013 9:23 AM

The oil complex is starting the day with small gains ahead of this morning's EIA oil inventory report as the market digests the recently released IEA Monthly Oil report (see below for more details). The EIA and OPEC both increased their projection for global oil demand growth versus last month's reports with the IEA surprising the market by decreasing their forecast versus last month. It shows a bit of disagreement as to the extent of what many are suggesting is a turning of the corner to a faster growth pattern for the global economy. The IEA report is mildly bearish for oil while the EIA and OPEC reports were mildly bullish. Thus on average I would have to say a neutral round for the monthly projections. Next on the docket is the weekly oil inventory report this morning.

February 13 2013 8:24 AM

Brent crude oil traded steadily below $119 on Wednesday morning after the US Energy Information Administration and the Organization of the Petroleum Exporting Countries both increased their outlook for oil consumption based on recent signs of recovery within the global market.

February 12 2013 9:15 AM

Oil prices are starting the day modestly higher after a downward move for most of the complex on Monday... except WTI. The main feature of the complex on Monday was the modest round of profit taking selling of the March Brent/WTI spread which narrowed around $2/bbl but is holding the support level of about $21/bbl. The spread is still well above the levels it was at just prior to the announcement of the bottleneck on the Seaway pipeline. The spread is still in a short term uptrend and yesterday's sell-off in the spread can still only be categorized as a downside correction as technical support has held (for now) and the fundamentals remain bullish for the spread. If the $21/bbl level is breached the next support level is around the $19.50/bbl level.

February 11 2013 9:38 AM

Pipelines used to be things that were just built without blinking. It is said that there are enough pipelines now in the US to encircle the Earth 25 times with enough left over to also tie a bow around it. Today, getting a pipeline built is not so easy - there are too many environmental concerns and the industry has become highly polarized. But here's one thing that could bring everyone together: pipeline safety technology. And it's something we all want, especially for those who live along the thousands of miles of aging pipeline routes that carry hazardous liquids.