U.S. crude oil fell below $34/bbl for the first time since 2009 before settling with a $0.25 loss at $35.81, but January natural gas jumped $0.14 (+7.9%) to $1.19/MMBtu for the largest gains in nearly two months as signs of cold and stronger heating demand creep into forecasts. Gas had been down 25% in December …
Petro River Oil Corp. Provides Update on Horizon Energy Partners’ Oil & Gas Interests Adjacent to Wytch Farm NEW YORK, NY, December 21, 2015 – Petro River Oil Corp. (OTCBB: PTRCD) (OTCBB: PTRC) (“Petro River” or the “Company”), today provided an update from Horizon Energy Partners, LLC (“Horizon Energy”) regarding the development progress of two …
Summary U.S. crude oil production peaked earlier in 2015 at 9.6M BBL/d and is now on a steepening decline curve. World oil over-supply is estimated at 1.5M BBL/d, and Saudi Arabia is said to be increasing production as oil prices decline to regain market share. As U.S. shale oil drillers struggle to survive in this …
Summary WTI crude oil prices peaked at $105 per barrel in June 2014 and fell to a low of $37.65 on Dec. 7, 2015 (down more than 64% of its price). Overproduction, high inventories, Saudi Arabia’s battle with U.S, shale oil producers and with Iran, and OPEC’s failure as an institution are the main causes. …
I get it, the sky is falling. Everybody is freaking out ahead of the Fed meeting next week. Opposing sides are tussling, throwing their weight back and forth. The market upheaval has us all a bit starry eyed. Whenever I see a selloff like this unfold I can’t help but look at it a little …
Summary Up through last week, the West Texas Intermediate Crude price had fallen to 40 dollars per barrel, putting it close to the sorts of prices we saw during the dark days of the last recession. Yes, all things being equal, falling oil prices would free up funds for other types of spending. But when …