Archives for July 2016
Do rig counts still matter?
Counting the number of drilling rigs in the oil patch used to be a good predictor of how many new barrels of crude the energy industry could harvest over a stretch of time. Now the...
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Gasoline prices likely to continue their decline
The Houston region last saw an average gasoline cost of $2.00 in May, and prices surged upward through mid-June because of strong demand during the busy summer driving season. Also, oil prices increased in most...
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Market Currents: Chinese oil inventories trump Nigeria export concerns
After breaking technical support at $44, crude is charging lower to start a new week, once again weighed down by oversupply fears. As short positions build in the latest CFTC data, crude heads lower. Hark,...
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Workers say force majeure by Exxon Mobil in Nigeria may last weeks
Exxon Mobil has denied that militants bombed the facility July 11 and cited a “system anomaly.” Source: FuelFix
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U.S. rig count jumps up again with 15 more Texas rigs
The energy sector added 15 rigs overall in the U.S. to bring the total count up to 462 rigs, up from a low of 404 rigs in May, according to data from the Baker Hughes...
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