oil prices in maine, monthly natural gas prices

lawn fertilizer products, oil prices in maine,Sales and service of High Quality Petroleum Refinery Equipment Products&Machinery.

Fred Bohn And Fuel Power Value

Oil costs elevated Apr. 11, pulled alongside by a turnaround within the broader market that broke a 5-day losing streak by way of renewed hope the European Central Financial institution can ease Spain’s economic woes via a bond-purchase program and the encouraging Federal Reserve outlook for modest growth.

In Houston, however, analysts at Raymond James & Associates Inc. reported, “Natural fuel bucked this trend and closed under $2/Mcf [in the new York market] for the primary time since January 2002 as supply continues to outpace demand despite a significant drop within the gasoline rig rely.”

In addition they reported, “Yesterday’s petroleum inventories replace was bullish relative to consensus as larger-than-anticipated draws in gasoline and distillates had been only partially offset by a barely bigger-than-anticipated construct in crude. Combining crude, gasoline, and distillates, inventories fell 5.5 million bbl this week, in comparison with the consensus forecast for a build of 300,000 bbl. Contributing to the draw, complete petroleum imports fell by 1.4 million bbl (down 12%) week-over-week.” Following the inventory report, crude rose in afternoon trading to finish up 1.7%.

US inventories
The Energy Info Administration reported Apr. 12 the injection of eight bcf of natural fuel into US underground storage within the week ended Apr. 6. That was under the Wall Street consensus for an injection of 21 bcf and left 2.487 tcf of working gas in storage. Fuel stocks are up 888 bcf from the year-in the past degree and 920 bcf above the 5-year common.

Pritchard Capital Partners LLC analysts reported, “Coal-to-fuel gas switching probably stays an vital supply of consumption but requires the continuation of low gasoline costs, probably below $2.50/MMbtu.” In addition, they stated, “Should storage ranges attain the point that stored fuel competes with production gasoline, we might see very low gas prices but most likely not for very lengthy. We estimate that if pressed the storage system can settle for up to four.4 tcf of working gasoline, and with the large demand months of December by oil prices in maine way of February following carefully, operators would doubtless be unmotivated to drop storage ranges a lot below that required to safely maintain operations. Finally, if manufacturing can not gain pipeline access attributable to nearly full storage, shut-ins may ensue and reduce produced gas to market accordingly.”

EIA earlier reported industrial US crude inventories elevated by 2.Eight million bbl to 365.2 million bbl within the week ended Apr. 6, exceeding Wall Street’s expectation of a 2 million bbl construct. Gasoline stocks fell 4.Three million bbl to 217.6 million bbl, well past analysts’ expectation of a 1.4 million bbl draw. Each completed gasoline and mixing components had been down. Distillate gas inventories dropped 4 million bbl to 131.9 million bbl last week; the market anticipated only a 300,000 bbl decline (OGJ On-line, Apr. 11, 2012).

Raymond James analysts said, “Total petroleum demand was up four.5% week-over-week, however remains down three.2% compared to the same interval final year after adjusting 2011 weekly numbers to reflect month-to-month actuals. Gasoline demand fell 1.2% this week and is down 1.1% 12 months-over-12 months with the same adjustment. Combining provide and demand, days of supply fell by greater than 2 days but remain on par with ranges from final 12 months.”

The newest EIA report “showed a total US stock draw of 3.9 million bbl but provided that in the identical week last yr the stocks had been being lowered by four.9 million bbl, the stock surplus vs. final yr increased to 32.5 million bbl and continues to be at a multiyear excessive for the comparable week,” oil prices in maine said Olivier Jakob at Petromatrix in Zug, Switzerland.

The draw of US gasoline stocks “pulled the RBOB gasoline crack to Brent considerably larger yesterday. However, gasoline stocks had a 7 million bbl draw in the identical week last year, therefore the inventory surplus to last yr is rising to eight million bbl, with a lot of the 12 months-on-year surplus in [the East Coast and the Midwest],” Jakob mentioned.

Stocks of crude on the US Gulf Coast elevated by 2.1 million bbl and have built by 18 million bbl since the beginning of March. Jakob mentioned, “The larger shipments from Saudi Arabia ought to start to materialize at the end of the month and given the higher flows that will come from [the Midwest] in the summer (through the Seaway pipeline) the Gulf Coast is nicely provided in entrance of the summer season season. For the last 2 days the premium of Brent vs. West Texas Intermediate has been shrinking; the primary motion yesterday in crude oil was on the Brent-WTI spread, not on outright flat price. Crude oil refinery intake [within the Midwest] has been progressively rebounding over the last 2 weeks, and crude oil imports from Canada were additionally down on the week (on the four-week average, nevertheless, they are at a new document excessive). Stocks in Cushing, Okla. have been flat, and we estimate them to be stuffed at solely 68% of capacity. The Keystone pipeline to Cushing will likely be undergoing upkeep Apr. 27-Could 3 though the corporate claims it’s going to don’t have any incidence on flows.”

Vitality prices
The May contract for benchmark US candy, light crudes recouped $1.Sixty eight to $102.70/bbl Apr. 11 on the brand new York Mercantile Exchange. The June contract regained $1.Sixty two to $103.18/bbl. On the US spot market, WTI at Cushing was up $1.68 to $102.70/bbl.

Heating oil for May delivery reclaimed 1.92¢ to $3.Eleven/gal on NYMEX. Reformulated inventory for oxygenate mixing for a similar month rose 4.59¢ to $3.30/gal.

The May natural gasoline contract dropped 4.7¢ to $1.98/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La. fell 7.3¢ to $1.91/MMbtu.

U-tube heat exchangerIn London, the Might IPE contract for North Sea Brent gained 30¢ to $one hundred twenty.18/bbl. Gasoline oil for April rebound by $5.50 to $999/tonne.

In case you loved this article and you would want to receive more info about Petroleum Display generously visit our own web page.