- U.S. biodiesel production reached a record level in May 2013
July 31 2013 10:37 AM
U.S. biodiesel production in May 2013 reached a record level of 111 million gallons, according to data released by the U.S. Energy Information Administration (EIA) on July 30. Production came from 116 active biodiesel plants with operable capacity of 2.2 billion gallons per year.
- Another large crude oil draw in Cushing
July 31 2013 10:13 AM
Markets have been relatively quiet in overnight trading as participants await the outcome of the US Federal Reserve FOMC meeting as well as US GDP data. The market is expecting a status quo from the Fed with little new guidance as to the phasing out of the massive quantitative easing program. The market is expecting US Q2 GDP to come in around 1.1 percent or a less than stellar performance for the US economy. The only way the FOMC outcome could turn into a major market mover will be for the Fed to indicate an early ending to QE3. With Q2 GDP expected to be barely above the 1 percent level and unemployment expected to come in around 7.5 percent or 1 percent above the Fed's threshold I do not expect any surprise ending announcements from the Fed today.
- Exxon Mobil Q2 Earnings Preview: Lowest Profits Since 2010 Expected
July 31 2013 6:13 AM
Analysts expect the oil giant to report low profits due to low upstream earnings and collapsed refining margins.
- Budweiser Will Go Global With Its Q2 Earnings Call
July 30 2013 3:07 PM
Analysts predicted AB InBev would rake in $1 per share on revenues of $10.4 billion.
- Fort McMurray Evicts Oil Sands Companies that Helped it Grow
July 30 2013 1:50 PM
The Canadian town of Fort McMurray, population 76,000, is the heart of Alberta's oil sands largesse--but the town is bursting at its seams with nowhere to expand because the land surrounding it is owned by oil companies.
- Who Is Fighting Over Keystone This Time?
July 30 2013 11:57 AM
A joint partnership between the National Association of Manufacturers and union groups support the Keystone project.
- Oil prices drifting lower
July 30 2013 8:41 AM
The oil market is following the downward pattern established last week as market participants continue to be concerned over the slowing of the global economy and thus a potential decline in oil demand growth going forward. Most of the macroeconomic data over the last month or so have indicated that many of the high growth economies of the world are finally starting to slow. Chinese data along with actions by the government are clearly pointing to a slowing of the main economic and oil demand growth engine of the world. The combination of oil demand potentially slowing coupled with the ongoing success of US supply is resulting in the global oil balances likely to remain biased to the oversupply side of the equation for the medium term.
- Dan Loeb Aims For Financial Harvest From Stake In Fertilizer
July 29 2013 4:42 PM
Third Point LLC, activist investor Dan Loeb's hedge fund, has pivoted from high tech to fertilizer, hoping for a big financial harvest.
- How Israel's Natural Gas Find Can Help The Peace Process
July 29 2013 12:43 PM
Off Israel's coast is a huge natural gas field. That energy bonanza also has the potential to help the peace process.
- Oil prices starting the week in positive territory
July 29 2013 11:39 AM
After falling modestly for the first week in over a month oil prices are starting the new trading week in positive territory for WTI with Brent showing a larger gain. Refined product prices are also modestly higher as of this writing. The market began to run out of its upside momentum early last week as participants have raised their concern on the prospect for a faltering demand picture going forward.
- NG futures lower on bearish temp forecast
July 29 2013 11:30 AM
Nat Gas futures have been under strong selling pressure since the markets began trading on Sunday night. The main selling catalyst today is the even more bearish short term temperature forecasts that hit the media airwaves over the weekend. As I have indicated on many occasions the weather is the primary price driver for the Nat Gas complex with the weather now making another decided turn toward the bearish side.
- 6 Key Oil & Gas Discoveries of 2013 – Who's Worth Owning
July 26 2013 1:57 PM
The pace of oil and gas exploration is frightening, and discoveries are weekly, if not daily, with volumes investors would only have dreamt of a decade ago. With each new discovery, it becomes difficult to keep track of the playing field, and even more difficult to rank the potential. There are also a lot of juniors popping up on the scene now, exploring, finding and developing with the intent to lure the bigger players to buy them out. So we'll make it easy for you here, with our list of 6 key oil and gas discoveries so far this year, followed by a short list of the companies we think have the best potential—and they're not necessarily the ones who have made the biggest discoveries.
- Gas Prices: Relief at the Pump Coming Soon, Says Citigroup's Morse [VIDEO]
July 26 2013 1:06 PM
- Piggybacking on the Hunt For Massive Oil Discoveries: Interview with AOS
July 24 2013 2:15 PM
Africa is becoming the top choice for North American oil companies looking to diversify, and the East African Rift is the hottest of the hot, with Kenya waiting on commercial viability, Angola and Ghana already on the road to rival Nigeria and two newcomers—Namibia and Zambia—where the doors have been thrown open for exploration. Getting in on Namibia and Zambia is an extremely expensive endeavour, but here's a way to de-risk this adventure, keep your shareholders calm and strategically position yourself to take advantage of the next big find without footing the massive drilling bill: Buy up a ton of acreage and sit back and let others do the expensive exploration and drilling on territory adjacent to yours. Then strike and watch offers come in.
- Caterpillar Q2 Earnings Inch Down On Commodities Slump
July 24 2013 9:28 AM
The construction equipment company did not meet analysts' expectations in the second quarter.
- Oil weaker after China PMI data
July 24 2013 8:40 AM
Oil prices are mixed in overnight trading after a supportive API oil inventory report that has been offset by yet another sign that the main economic and oil demand growth engine of the world… China is slowing. The latest manufacturing data out of China weakened more than expected for July. The HSBC/Markit reading came in at 47.7 or solidly below the expansion threshold of 50. The PMI data is an energy sensitive Index and with China in the contraction mode it certainly suggests that oil demand growth out of China is likely to be less than has been forecast so far.
- NG futures drifting lower in early trading
July 24 2013 8:33 AM
With the market focusing on tomorrow's EIA inventory injection report prices rallied modestly on Tuesday only to retrace slightly in overnight trading so far. The market is mostly focused on what is likely to be an underperformance in the weekly injection level (see below for a more a detailed discussion) while somewhat discounting the less than supportive short term weather forecasts. Although the injection level this week is likely to be below the so called normal five year average for the same week it will still come in well above last year resulting in the year over year deficit narrowing one again.
- Brent Slips on Chinese PMI
July 24 2013 8:14 AM
Brent crude oil was under pressure on Wednesday after Chinese PMI data revealed that the number two oil consuming nation's economy could be slipping.
- Challenging a Long-Held Assumption about Commodities
July 23 2013 3:14 PM
There’s no denying China’s massive economic growth over the past decade, as the country recorded an average GDP of more than 10 percent per year. In only seven years, China’s economy doubled; in 13 years, it tripled.
- Goldman: $26B In Next Decade On 'Warehousing'?
July 23 2013 2:06 PM
Aluminum inventory storage and transportation may net the firm that much, one critic argues.