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EIA NATURAL GAS WEEKLY
STORAGE LEVELS:
(Total Lower 48)
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EIA report
for week
ending
08/01/08
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Our next prediction
coming Tuesday,
08/12/08
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+56 Bcf
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EIA FORECASTING TOOL:
Explore past and future
EIA natural gas values!
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Natural gas, crude oil, and weather market news, prices, analysis, and forecasts for commodities traders, risk managers, and hedgers with current NYMEX, CME, EIA, and energy market data, charts, commentaries, newsletters, and more.
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Featured Articles for August 7, 2008
Forecast & Analysis - Top Stories - Financial - Releases - Weather Stories
Forecast & Analysis
- Congress's unsound fury over Big Oil
Washington - With this summer's high gas prices, Americans are trading in their traditional vacations for "staycations" – vacations much closer to home.
Full Story
- Weekly Natural Gas Storage Data for Week Ending 8/7/08
Working gas in storage was 2,517 Bcf as of Friday, August 1, 2008, according to EIA estimates. This represents a net increase of 56 Bcf from the previous week. Stocks were 353 Bcf less than last year at this time and 6 Bcf below the 5-year average of 2,523 Bcf. Full Story
- DJ ENERGY MATTERS: $30 Drop In 18 Days Amid Weak US Oil Demand
NEW YORK (Dow Jones)--Bearish U.S. oil data fueled a continued selloff in crude oil futures Wednesday. All told, oil is down 20%, or more than $30 a barrel, from its intraday record high, hit just 18 days earlier. Full Story
- DJ : Blitzing America The Boone Pickens Way
One minute he's on "Larry King Live," the next he's in Lamar, Colo., a dwindling hamlet on the windswept plains.
Being a billionaire several times over isn't enough for T. Boone Pickens. For his latest ventures, he needs the people. Full Story
- High Prices Keeping Lid On Big Oil Deals
HOUSTON (Dow Jones)--Although flush with cash due to high oil prices and hard-pressed to increase production, major oil companies aren't ready to make large-scale acquisitions, at least not yet. Full Story
Top Stories
- US Gulf Independence Hub gas platform seen back Fri
NEW YORK, Aug 7 (Reuters) - The huge Independence Hub natural gas production platform in the Gulf of Mexico was expected to start ramping up on Friday after shutting early last week for planned maintenance on an associated pipeline, the platform's majority owner Enterprise Products Partners LP (EPD.N) said Thursday. Full Story
- EIA Administrator Caruso Stepping Down Sep 3
NEW YORK (Dow Jones)--Guy Caruso, administrator of the Energy Information Administration since February 2002, is stepping down from the post on Sept. 3. Full Story
- Refco's Grant Gets 10 Years for $2.4 Billion Fraud
Aug. 7 (Bloomberg) -- Former Refco Group Ltd. President Tone Grant, a decorated U.S. Marine Corps veteran, was sentenced to 10 years in prison for defrauding investors of $2.4 billion in an eight-year accounting scheme. Full Story
- Nigeria overtakes Venezuela in oil exports to US
WASHINGTON: Nigeria surpassed Venezuela as the fourth largest foreign supplier of crude oil to the United States for the first five months of 2008, the Energy Information Administration said on Wednesday. Full Story
- Houston, Sabine Ship Channels Open To All Traffic
HOUSTON (Dow Jones)--The Houston Ship Channel and Sabine Pass, along the Texas-Louisiana border, are open to all vessel traffic following Tropical Storm Edouard, the U.S. Coast Guard said Thursday. Full Story
Financial
Releases
- Williams Net Little Changed Absent Year-Earlier Gain
Aug. 7 (Bloomberg) -- Williams Cos., the biggest U.S. natural-gas transporter, said second-quarter profit was little changed amid higher prices and pipeline fees, and after a gain boosted earnings a year earlier. Full Story
- Japan's Mitsubishi drops plans to build LNG terminal in U.S. - report
TOKYO (Thomson Financial) - Japan's largest trading house Mitsubishi Corp has given up plans to build a liquefied natural gas terminal in California after local authorities froze proceedings due to citizens' growing safety fears, the Nikkei reported on Thursday, without citing sources. Full Story
- Frontier Oil Reports Second Quarter 2008 Results
HOUSTON--(BUSINESS WIRE)--Frontier Oil Corporation today announced quarterly net income of $59.3 million, or $0.57 per diluted share, for the quarter ended June 30, 2008, compared to net income of $243.8 million, or $2.23 per diluted share, for the quarter ended June 30, 2007. Full Story
- MF Global Q1 profit beats analysts' view, shares rise
Aug 7 (Reuters) - Futures and options broker MF Global Ltd (MF.N) posted a quarterly profit that beat analysts' estimates by a wide margin, helped by an increase in trading volume and transaction-based business, sending its shares up 12 percent.
Full Story
- Sempra Profit Falls 12% After Sale of Commodities-Trading Unit
Aug. 7 (Bloomberg) -- Sempra Energy, owner of the largest U.S. natural-gas utility, said second-quarter profit fell 12 percent after the sale of a majority stake in its commodities- trading business to Royal Bank of Scotland Group Plc. Full Story
- Imperial Oil Delays Decision on C$8 Billion Oil-Sands Project
Aug. 7 (Bloomberg) -- Imperial Oil Ltd., Canada's largest oil company, is postponing until next year a decision to proceed with a proposed C$8 billion ($7.64 billion) oil-sands mine after legal delays. Full Story
- Goodrich Petroleum Q2 loss on derivative charges
Aug 6 (Reuters) - Independent oil and gas explorer Goodrich Petroleum Corp (GDP.N) posted an eight-fold increase in its second-quarter net loss as it was hurt by charges on derivatives trading. Full Story
- Marathon Begins Restarting Texas City Refinery Shut by Storm
Aug. 6 (Bloomberg) -- Marathon Oil Corp., the largest refiner in the U.S. Midwest, began restarting its Texas City, Texas, refinery after shutting the facility ahead of a tropical storm. Full Story
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