|Day's range||56.91 - 57.68|
Baker Hughes released its US crude oil rigs report on December 8, 2017. US crude oil rigs rose by two to 751 on December 1–8, 2017.
ConocoPhillips’s (COP) 2016 production mix was ~38.0% crude oil, ~12.0% bitumen, ~9.0% natural gas liquids, ~22.0% international natural gas, and ~19.0% North American natural gas.
On December 7, 2017, US crude oil’s implied volatility was 20% or ~1.1% less than its 15-day average. On December 1, the implied volatility fell to 19.8%.
Strong output growth from some of the U.S. most prolific natural gas basins has propelled the U.S. to a pole-position in global gas markets
The US dollar rallied against the Canadian dollar, as we are looking to finally break out and test the 1.30 levels above.
Whiting Petroleum’s (WLL) net-debt-to-adjusted EBITDA multiple rose steadily until 2Q16. But after a peak in 2Q16, its EBITDA multiple started falling.
Whiting Petroleum’s (WLL) earnings have improved overall since last year. The company’s 3Q17 earnings were higher YoY as well as on a sequential basis.
Whiting Petroleum (WLL) stock has fallen ~52% YTD. In this series, we'll be looking at various factors that could have affected WLL’s stock fall.
Baker Hughes will publish its US natural gas rig count report on December 8, 2017. Gas rigs rose by four to 180 on November 22–December 1, 2017.
The EIA estimated that US natural gas inventories rose by 2 Bcf (billion cubic feet) to 3,695 Bcf on November 24–December 1, 2017.
US dry natural gas production fell by 0.5 Bcf per day or 0.7% to 76.2 Bcf per day on November 30–December 6, 2017, according to PointLogic.
January natural gas (UNG) (UGAZ) futures contracts rose 0.8% to $2.78 per MMBtu (million British thermal units) at 1:08 AM EST on December 8, 2017.
An unexpected increase in US natural gas inventories during the withdrawal season pressured natural gas (FCG) (GASL) prices on December 7, 2017.
January US natural gas futures (GASL) contracts were below their 20-day, 50-day, and 100-day moving averages on December 7, 2017.
The crude oil market is susceptible to heavy fund liquidation so prices are likely to continue to weaken over the near-term.
Helping to boost the U.S. Dollar Index was the rise in the Dollar/Yen. The Forex pair was supported by the return of stock market investors looking to take on risk.
Meanwhile, U.S. output rose by 25,000 barrels per day last week to 9.7 million barrels per day - the most since the EIA started maintaining weekly data in 1983.
Oil production from the Organization of the Petroleum Exporting Countries fell to the lowest level in six months in November, according to an S&P Global Platts survey released Thursday. OPEC output declined ...
US crude oil production rose by 25,000 bpd (barrels per day) or 0.3% to 9,707,000 bpd on November 24–December 1, 2017, according to the EIA.
A Reuters survey estimated that Saudi Arabia's crude oil production fell by 30,000 bpd (barrels per day) to 10,000,000 bpd in November 2017.