- VLO, APC, BP, ENB, XOM, PSX. US Gulf Coast Oil and Gas companies Thursday emerged from shelter in the wake of Hurricane Isaac, a assessing the damage and beginning to re-staff evacuated refineries and offshore platforms as the now-weakened storm winds its way through central Louisiana.
- Flooded roads in the aftermath of Hurricane Isaac may pose a danger to drivers, but there are certain precautions they can take to ensure their safety in wet-weather driving conditions.
- November soybeans are trading 2 cents lower near 7:30 am cst. September soybean meal is higher while oil is lower. Malaysian Palm Oil prices rebounded overnight and recovered from a two-week low as US soybean markets rose yesterday. Chinese equity markets were weaker again overnight extending a pattern of recent declines. European stocks also started out weaker again this morning, as Euro zone Consumer Confidence fell to some of the lowest levels in 3 years. Surprisingly, the Euro saw only margi...
- As the first major hurricane of the season to make landfall in the heart of the oil and Nat Gas industry starts to slowly move out of the area the spot price of WTI is down by about $0.80/bbl on the week while spot Nat Gas is lower by $0.072/mmbtu as of this writing. Only refined products got a boost from the storm so far with RBOB up by $0.0363/gal and HO higher by $0.0234/gal. In spite of a significant amount of crude oil and Nat Gas production shut in on a preemptive basis the market has not ...
- October crude oil prices trended lower during the overnight and initial morning hours before bouncing back toward unchanged levels. The macroeconomic tone was a bit weaker following disappointing economic readings in Japan and the Euro Zone. October Brent crude oil prices were higher, supported by talk of a potential oil workers strike in Norway.
- Hurricane Isaac's effect on gasoline prices is minimal, but national inventory is below average. And pre-storm worries caused prices to rise anyway.
- Sentiment was mixed yesterday as encouraging US data diminished expectations of further QE by the Fed in the near-term. Yet, investors still hope for some indications from Chairman Bernanke at the Jackson Hole meeting. In the Eurozone, German Chancellor Merkel had a meeting with Italian PM Monti. The two disagreed on whether a bank license should be given to the ESM. Meanwhile, ECB President Draghi hinted that the central bank would need to implement further non-standard measure to stimulate the...
Minnie Mouse Gets 'Skinny' Barneys Makeover After The Little Mermaid's Plastic Surgery: Is Altering Disney Character's Bodies Bad For Kids?Barneys has collaborated with Disney in order to create its new window display for the holiday season of 2012, WWD reported.
- The US Energy Information Administration (EIA) released its weekly petroleum status report Wednesday. US commercial crude inventories rose by 3.8-M bbls last week, bringing the total US commercial Crude Oil inventory to 364.5-M bbls, above the upper limit of the 5 yr range for this time of the year.
- Former Florida governor Jeb Bush renewed his call for Republicans to reconsider their immigration platform on Tuesday, warning attendees of a panel discussion that the future of the party is at stake.
- Brent crude oil slipped to $112 on Wednesday as Hurricane Isaac, which hit land in Louisiana, left U.S. Gulf Coast oil production facilities without significant damage. U.S. energy companies have shut most facilities in the Gulf of Mexico, as a precautionary measure, cutting the region's oil output by more than 90 percent.
- As Hurricane Isaac made its second landfall Wednesday morning at Port Fourchon, La., officials in Plaquemines Parish just south of New Orleans are reporting flooding as deep as 12 feet in some areas that has stranded residents.
- Stock markets waxed and waned as the Jackson Hole Symposium approaches. Investors were betting the possibility that Fed Chairman Ben Bernanke would hint further QE3 during his speech given recent mixed data. Meanwhile, sentiment was mixed as Catalonia might have become the third Spanish province to tap the l liquidity program, with 5B euro while speculations of further ECB action were intensified as President Draghi skipped Jackson Hole "due to the heavy workload foreseen in the next few days...
Hurricane Isaac 2012: Wave Glider Robot ‘Alex’ Helps Forecast Path, Track and Trajectory of Storm [VIDEO]Hurricane prediction is not always an exact science, but the NOAA is already on the case, developing new ways to forecast the track of hurricanes; in fact, the organization launched one experimental Wave Glider robot named Alex into the ocean weeks ago, hoping the unmanned drone can forecast the direction, path and trajectory of future storms.
- Not quite a Hurricane Isaac move slowly towards US energy Infrastructure towards the Big Easy as traders remain surprisingly calm. Despite the fact that 78% of all Gulf Oil production was shut down oil closed lower. The marker sold off on word of refinery closures and rumors that there would be a release from the US Strategic Petroleum Reserves. As the US is less dependent on Gulf oil and gas production I guess traders can afford to calm.
- December corn is trading 1 1/2 cent lower near 7:30 am CST. The market tried to sustain a move higher overnight but broke lower following the open of European markets. Dalian corn is trading lower. The Euro edged lower along with European stocks following data that showed Spain's economy shrunk by 0.4% in the 2nd quarter vs. 0.3% in the 1st. The US Dollar traded lower overnight and crude oil is slightly higher which is offering support to grain markets this morning.
- The direction of the oil complex continues to be mostly driven by the evolving storm in the Gulf of Mexico. Isaac is now on the verge of being upgraded to hurricane status as it is on a direct path to Louisiana. It could make landfall late today or early tomorrow. Isaac has caused a rash of preemptive energy shut-ins covering offshore crude oil and Nat Gas production, refinery shut-ins, LOOP closure as well as logistics precautions like pipelines. So far according to the Bureau of Safety and Env...
- October natural gas prices declined to a new two month low during the early morning hours. It seemed that the market was not all that concerned over the potential loss in Gulf of Mexico natural gas production from Tropical Storm Isaac. The market also seemed to overlook the latest weather forecasts that turn warmer and show a larger area of above normal temperatures throughout most of Texas and southeastern US into September 6.