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Gas Wizards News Posts

Crude Oil Price Collapses Through Key Supports: More to Go?

Jul 6, 2019 by Administrator

Crude Oil Price Collapses Through Key...

Russia, Iran Face Backlash Over Oil Shipments To Syria

Jun 2, 2019 by Administrator

Russia, Iran Face Backlash Over Oil Shipments...

Alaska Sees Record Breaking Year For Oil And Gas Leases

Nov 24, 2018 by Administrator

Alaska Sees Record Breaking Year For Oil And...

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News

American Oil Great Again

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Posted on Jan 25, 2017 by Administrator

Sanchez Energy: A Big Bet On Making American Oil Great Again     'The commodity downturn has been a huge benefit for America’s drillers,' says Tony Sanchez. 'The industry has learned to become efficient in ways we never thought were possible.' A couple years ago America’s domestic oil supply maxxed out at 9.6 million barrels per day. Then as oil prices plunged, so did drilling. And without new...

Crude Oil and Other Liquids Inventories

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Posted on Jan 25, 2017 by Administrator

EIA estimates that crude oil and other liquids inventories grew by 2.0 million barrels per day (b/d) in the fourth quarter of 2016, driven by an increase in production and a significant, but seasonal, drop in consumption. Global production and consumption are both projected to increase through 2018, but consumption is expected to increase at a faster rate than production. As a result, global balances are expected to tighten. The production increase in the fourth quarter of 2016 largely...

Gasoline Prices

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Posted on Jan 25, 2017 by Administrator

Gasoline Prices: The front-month futures price of reformulated blendstock for oxygenate blending (RBOB, the petroleum component of gasoline used in many parts of the country) rose 9 cents per gallon (gal) from December 1 to settle at $1.64/gal on January 5 (Figure 2). The RBOB-Brent crack spread (the difference between the price of RBOB and the price of Brent crude oil) rose 2 cents/gal over the same period. In late December, the RBOB price reached its highest point since August...

EIA Energy Outlook

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Posted on Jan 24, 2017 by Administrator

Brent crude oil prices are forecast to average $53/b in 2017 and $56/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $1/b less than Brent in both 2017 and 2018. The current values of futures and options contracts suggest high uncertainty in the price outlook. For example, EIA's forecast for the average WTI price in December 2017 of $53/b should be considered in the context of NYMEX contract values for December 2017 delivery. Contracts traded during...