Market News

THE WALL ST JOURNAL - Oil Companies’ Modest Prize: Breaking Even

The world’s biggest oil companies are struggling just to break even.


Despite billions of dollars in spending cuts and a modest oil-price rebound, Exxon
Mobil Corp. , Royal Dutch Shell PLC, Chevron Corp. and BP PLC didn’t make enough money
in 2016 to cover their costs, according to a Wall Street Journal analysis.

[...]

CNBC - Get ready to pay more for gasoline; prices could leap to two-year high this spring

Gasoline prices could see a significant springtime jump of 20 to 45 cents per gallon, pushing
retail pump prices to their highest level since June 2015, according to a widely followed gasoline
analyst.

[...]

BLOOMBERG - U.S. Oil Industry Becomes Refiner to World as Exports Boom

When PBF Energy Inc. scooped up a refinery from Exxon Mobil Corp. on the
Mississippi River in 2015, it wasted no time sprucing up the plant with an eye
toward quickly resuming lucrative fuel exports.


Within three months, PBF was ready to load its first tanker for shipment
abroad. By late last year, the New Jersey-based company was exporting
22,000 barrels a day of fuel, or 16 percent of that refinery’s output. Now, it
wants to boost that to almost 25 percent.

[...]

THE WALL STREET JOURNAL - Crude Futures Continue to Rise on Bullish Gasoline Data

Worries about rising U.S. petroleum stocks could cap
gains

Crude futures continued to rise Thursday on indications of better-than-expected gasoline demand
in the U.S. and as investors anticipate fresh data on OPEC’s compliance with production cuts.

[...]

FORBES - Time to Grab Commodities Bull By The Horns

Commodity investors have had to endure a dry spell for a while now, but those days are
starting to look as if they might be behind us.


We see encouraging signs that a bottom has been reached and a new commodities
super-cycle has begun, as global manufacturing expansion and inflation are finally
gathering steam following the financial crisis more than eight years ago.

[...]

BLOOMBERG - Saudi Oil Output Drops Under OPEC Quota Close to Two-Year Low

Saudi Arabia has reduced oil production to less than 10 million barrels a day,
below its targeted level, and will consider renewing its pledge to cut crude
output in six months, Energy Minister Khalid Al-Falih said.

[...]

THE WALL STREET JOURNAL - Gas Prices Take a Backseat for Auto Makers

Auto makers, betting that rising gasoline prices won’t spoil America’s love affair with pickups and SUVs, are
increasing their exposure to a light-truck segment that let the industry down a decade ago.


Executives say it’s different this time. Today’s sport utilities and pickup trucks are lighter and carry smaller engines,
helping achieve better fuel economy than the gas guzzlers that once jammed American dealer lots.

[...]

NEVADA APPEAL - Gas prices projected to rise by 36 cents higher in 2017

BOSTON — Motorists may realize sticker shock in 2017 when it comes to gas prices.
GasBuddy, an organization that projects and monitors gas prices, projects motorists will
spend 36 cents more a gallon at the pump and are expected to shell out $52 billion more
this year compared to 2016. GasBuddy’s 2017 Fuel Price Outlook projects this year’s
average price will be $2.49 per gallon. Locally that would put the average price at about
$2.65 a gallon.

[...]

MARKET WATCH - Gasoline prices may hit 3-year high in 2017 as cheap-gas era ends

U.S. prices for gasoline at the pump this year could reach their highest levels since 2014, thanks in large
part to efforts by major oil producers to boost crude prices, according to GasBuddy, a source for real-time,
local gas prices.

[...]

THE WALL STREET JOURNAL - Gasoline’s Intraday Gain Biggest in Eight Years

Tuesday’s spikes in gasoline prices marked the biggest intraday gain in eight years,
reflecting the potential disruption to energy markets and the volatility of gasoline
trading.


Futures for December delivery jumped as much as 15% from the prior day’s close,
trading up to $1.6351 a gallon, a five-month high, before retreating in afternoon
trading. Futures settled up 4.6% at $1.4841 a gallon.

[...]

CNBC - US exports record amount of gasoline

The U.S. has quietly been increasing exports of gasoline to record levels, and that is one factor that
could be helping reduce the nation's oil glut on the margin.


Last week, the U.S. exported about 5.7 million barrels of gasoline, possibly a record. The 811,000
barrels a day reported is nearly twice the amount exported at the same time last year and almost a
third more than was exported a week earlier, according to the U.S. Energy Information
Administration.

[...]

REUTERS - U.S. gasoline glut disappears as refiners tweak production: Kemp

U.S. gasoline stocks remain at record levels for the time of year but once they
have been adjusted for record fuel consumption by U.S. motorists do not appear
excessive.


The gasoline glut, which dominated discussions about the outlook for crude and fuel
markets during the spring and early summer, quietly evaporated during August and
September.

[...]

THE WALL STREET JOURNAL - Natural-Gas Prices Heat Up as Oil Drilling Cools Off

A long period of low oil prices has saved motorists money at the pump, but languishing crude
prices could drive up heating bills.


That is because the natural-gas supply is closely connected to oil drilling. Low crude prices have
led U.S. oil producers to idle more than a thousand rigs over the past two years, resulting in a big
decline in so-called associated gas, a byproduct of oil drilling. This gas typically represents about
40% of total supply, but its production isn’t particularly responsive to gas prices.

[...]

REUTERS - U.S. natural gas market rebalancing well underway: Kemp

The U.S. natural gas market is well on the way to rebalancing as unusually high
airconditioning demand coupled with strong underlying consumption growth absorbs the
record inventories left at the end of last winter.

[...]

REUTERS - COLUMN-U.S. gasoline consumption and exports hit record highs: Kemp

LONDON, Sept 1 U.S. motorists used a record volume of gasoline in June as good
weather and cheap fuel encouraged a strong start to the summer driving season.


The volume of gasoline supplied to domestic consumers averaged 9.664 million barrels
per day, an increase of 273,000 bpd compared with the same month in 2015.

[...]

THE WALL STREET JOURNAL - Natural Gas Gains on Improving Supply-and-Demand Balance

Natural gas prices rallied this week on data showing that inventories of the fuel grew far less
than average for this time of year.


Futures for September delivery settled up 2.5 cents, or 0.9%, to $2.871 a million British thermal
units on the New York Mercantile Exchange. Prices rose 11% this week, the biggest one-week
percentage gain since April.

[...]

REUTERS - U.S. gas prices must rise to rebalance market: Kemp

The U.S. natural gas market is on an unsustainable course as low prices stimulate
strong growth in consumption while production is flat or falling.


U.S. power producers burned a record amount of gas last winter despite mild weather
as cheap prices and stricter environmental regulations encouraged a shift away from
coal.

[...]

THE WALL STREET JOURNAL - Natural Gas Falls as Stockpiles Rise

Natural gas prices inched lower on Thursday, after government data showed U.S. stockpiles
grew more than expected last week.


The U.S. Energy Information Administration said natural-gas inventories grew by 64 billion
cubic feet last week, compared to the 56 bcf expected by forecasters surveyed by The Wall Street
Journal. The report is a widely watched measure of supply and demand. A larger-than-expected
addition to storage likely indicates more supply or smaller demand than expected.

[...]

THE WALL STREET JOURNAL - Natural Gas Rises on Shrinking Surplus

Natural-gas prices inched higher Friday on signs a record surplus continues to ease.


Natural gas for August delivery settled up 2.4 cents, or 0.9%, at $2.801 a million
British thermal units on the New York Mercantile Exchange, the highest settlement
since May 2015. It did snap a five-week winning streak, losing 18.6 cents, or 6.2%
for the week. But the market stabilized after posting all of those losses in one
session Tuesday.

[...]

THE WALL STREET JOURNAL - Weak Oil Prices Curbing Production

The debate among the world’s biggest oil nations over whether to freeze production is beginning
to be overtaken by a rapid slide in output around the world.


On Tuesday, as traders looked to a weekend meeting on output in Doha, Qatar, the government
said U.S. production dropped in March and will likely continue falling.

[...]

THE WALL STREET JOURNAL - Natural Gas Rises as Investors Bet on a Bottom

Natural-gas prices had one of their strongest surges of the year Thursday with investors betting
the glutted market has hit a bottom.


Prices have lingered at historic lows because of a glut in storage. The U.S. Energy Information
Administration said Thursday stockpiles grew another 12 billion cubic feet last week, a time of
year when stockpiles usually fall. They are now 54% larger than they usually are at this time of
year.

[...]

MARKET WATCH - Why you probably won't be seeing gasoline at 99 cents a gallon

Maintenance season for U.S. refineries comes every year at this time, tightening supplies of

gasoline and lifting prices at the pump with it.


But this year, the season comes at a time when oil prices CLH6, +7.63% have dropped to levels
not seen since 2003. Retail gasoline is near its lowest price since the Great Recession. That
combination can eat into profit margins for refiners, who may soon chose to cut back fuel
production even further.

[...]

MARKET WATCH - Opinion: Falling oil prices will bankrupt the likes of Russia, Saudi Arabia

LONDON (MarketWatch) — What might be the next big financial crisis? A bursting of the
bubble in tech stocks that has built up over the last two years? A total collapse in the stock
market, beyond the selloff that has already marked the start of 2016? Any of those could happen.
But increasingly it looks as if it will be national bankruptcies caused by collapsing oil and
commodity prices.

[...]

FOX - Natural-gas Prices Move Lower As U.S. Supplies Decline By 70 Billion Cubic Feet

Natural-gas futures moved lower on Thursday after the U.S. Energy
Information Administration reported that supplies of the commodity
declined by 70 billion cubic feet for the week ended Feb. 5. That was
less than the fall of between 81 billion and 85 billion cubic feet
expected by analysts polled by Platts.

[...]

MARKET WATCH - Oil marks lowest settlement since 2003

Oil futures fell again on Thursday, with West Texas Intermediate crude marking its
lowest settlement in nearly 13 years, as traders concluded that last week’s modest fall
in U.S. crude supplies wasn’t enough to outweigh pressure from a global supply glut
and worries about weaker oil demand.

[...]

MARKET NEWS - Natural-gas prices move lower as U.S. supplies decline by 70 billion cubic feet

Natural-gas futures moved lower on Thursday after the U.S. Energy
Information Administration reported that supplies of the commodity declined
by 70 billion cubic feet for the week ended Feb. 5.

[...]

WSJ - Gasoline is “Winning Clearly” Over Diesel, says Saras Director

ANTWERP—The global decline in oil prices has led to a surge in demand for oil products, and there is a

growing emphasis on gasoline over diesel.


That is according to Marco Schiavetti, the director of supply and trading at Italian refiner Saras SAAFY
7.80 % SpA, who spoke to The Wall Street Journal on the sidelines of a conference.

[...]

WSJ - Oil Surges on Speculation of Production Cuts

Oil prices gained Wednesday amid speculation about output cuts from the world’s leading exporters.
A weaker dollar also boosted prices after the Federal Reserve signaled it was concerned about global economic
turbulence in its Tuesday afternoon statement. A weaker U.S. currency makes dollar-priced oil less expensive for
foreign buyers.

[...]

RIG ZONE - Baker Hughes: US Oil Rig Count Lowest Since 2010 As Drillers Step Up Cuts

Jan 8 (Reuters) - The U.S. oil rig count this week dropped to the lowest level in over five years
as energy firms stepped up the rate of idling rigs after one of the worst years in almost 30 years
for drilling, data showed on Friday.

[...]

BBC- Saudi Arabia's allies Bahrain, Sudan and UAE act against Iran

A number of Saudi Arabia's allies have joined diplomatic action against Iran after the Saudi

embassy in Tehran was attacked amid a row over the execution of a Shia Muslim cleric.


Bahrain and Sudan have both severed relations with Iran, and the UAE has downgraded its
diplomatic team.

[...]

THE WALL STREET JOURNAL - From Oil Glut to Shortage? Some Say It Could Happen

 With the world awash in crude, the oil industry is contemplating a new problem the oversupply

could tee up: an oil shortage.


As the oil glut has sent prices to decade lows, plummeting investment by oil-producing countries
such as Venezuela and Russia and oil drillers such as Exxon Mobil Corp. and Royal Dutch Shell
PLC means fewer barrels will be produced.

[...]

BLOOMBERG BUSINESS - Oil-Producing States Battered as Tax-Gushing Wells Are Shut Down

In Kern County, California, one of the nation’s biggest oil producers, tumbling energy prices
have wiped more than $8 billion from its property-tax base, forcing officials to tap into reserves
and cut every department’s budget. It’s only getting worse.

[...]

BARRON'S ASIA - India: The New King Of Gasoline

India is under-appreciated in its capacity to consume gasoline, according to Macquarie
Research.


Gasoline demand is soaring in India, rising 110 kb/d, or 25% from a year ago in
September, the fastest pace in over a decade. Total gasoline demand rose 15% on
average in 2015 through November.

[...]

RT - Yemeni rebels target Saudi oil installation with ballistic missile

Houthi rebels have targeted a Saudi oil installation near the city of Jizan, in
the southwest of the country. Houthis said that they hit the target while
Saudis claimed to have intercepted the missile.
 

[...]

REUTERS - UPDATE 1-U.S. oil drillers cut rigs for 14th week in 15 - Baker Hughes

Dec 11 U.S. energy firms this week cut oil rigs for a 14th week in the last 15, data
showed on Friday, in the sharpest decline since October with drillers turning away
from the well pad as crude prices plunged over 10 percent over the week to near
seven-year lows.

[...]

THE WALL STREET JOURNAL - Oil-Rig Count Slides for Third Consecutive Week

The U.S. oil-rig count fell by 10 in the most recent week, according to Baker Hughes Inc.,
marking the third consecutive week of declines.


The number of U.S. oil-drilling rigs, which is viewed as a proxy for activity in the oil industry,
has fallen sharply since oil prices started falling last year. At the count of 545, there are 66%
fewer rigs from a peak of 1,609 in October 2014.

[...]

TIME MONEY - Car Buyers Care Less About Fuel Economy Now That Gas Is So Cheap

They're back to buying gas-guzzling SUVs and pick-up trucks.


The average fuel economy of new cars sold in the U.S. in November dropped by 0.1 mile
per gallon, continuing a trend that began in August of last year when pump prices began
to fall, according to new data by the University of Michigan Transportation Research
Institute.

[...]

THE WALL STREET JOURNAL - Natural Gas Rises Ahead of Cold Weather

NEW YORK—Natural gas prices rose Wednesday on expectations that the surplus of the
heating fuel isn’t getting bigger.


Natural gas futures for November delivery settled up 2 cents, or 0.8%, at $2.518 a million British
thermal units on the New York Mercantile Exchange.

[...]

THE WASHINGTON POST - Why natural gas is catching up to coal in powering U.S. homes

It’s a key expected transition in how we get our electricity — and it may be happening even
faster than expected.


For the second time this year, according to the U.S. Energy Information Administration, natural
gas has temporarily surpassed coal as the number one source of U.S. electricity. This happened
in the month of April for the first time ever, and then also happened for July, when natural gas
provided 35 percent of U.S. electricity generation and coal provided 34.9 percent, says EIA.

[...]

THE WALL STREET JOURNAL - U.S. Oil Prices Briefly Top $50 a Barrel for First Time Since July

NEW YORK—Oil futures rose Thursday, briefly trading above $50 a barrel for the first time
since July, as the dollar weakened and traders focused on expectations of shrinking U.S.
production.


Concerns about Russia’s military operations in Syria also supported prices.

[...]

THE WALL STREET JOURNAL - Oil Prices Supported by Gasoline Demand

Gains capped as Saudi Arabia slashes prices

 

NEW YORK—Oil prices rose Monday on a drop in Midwest gasoline supplies and a largerthan-
expected cut in U.S. production capacity.


Gains, however, were capped after Saudi Arabia’s decision Sunday to slash prices, intensifying
the global fight for market share that has battered oil prices since last year.

[...]

MARKET WATCH - Oil finishes higher as U.S. rig count drops to 5-year low

Oil futures finished higher on Friday, buoyed by data showing a weekly drop in the number of
active U.S. drilling rigs to their lowest level in more than 5 years.


Prices had been trading lower before the rig data from Baker Hughes Inc. BHI, -3.99% Earlier, a
slowdown in U.S. job creation last month hinted at the potential for weaker energy demand,
pushing oil lower.

[...]

US NEWS & WORLD REPORT - Auto sales soar 16 percent in September, led by Ford; halt in diesel sales hits VW

DETROIT (AP) — September was a blockbuster sales month for the U.S. auto industry — except at
Volkswagen, where an emissions scandal forced the company to halt sales of most of its diesel-powered
vehicles.

[...]

BLOOMBERG BUSINESS - Oil Ignoring Bad News Usually Means a Rebound Is Near, Says Jim Rogers

Oil is holding near $45 while the bad news keeps coming. For investor Jim Rogers, that’s usually a sign a
rebound is near.


The Organization of Petroleum Exporting Countries is still pumping near-record amounts of oil,
China’s imports have slowed and U.S. crude stockpiles remain about 100 million barrels above
the five-year seasonal average. Yet, U.S. benchmark prices have held steady for more than four
weeks since plunging to a six-year low at the end of August.

[...]

BARRON'S - Why Investors Are Wrong About China’s Oil Demand

Key Takeaway


The latest China data point to hit markets was an 8.8% August drop in industrial company profits.
China’s oil companies certainly did not help profits with Brent down 54% YoY. We believe,
however, that industrial profits says next to nothing about oil demand, which has been accelerating,
and that, while considered industrial companies, China’s oil companies will be driven by
consumption-led growth. We upgrade CNOOC, Sinopec-H and Sinopec-A to Buy.

[...]

BLOOMBERG BUSINESS - Shale Oil's Retreat Threatens to Leave U.S. Short on Natural Gas

The retrenchment in drilling for U.S. oil is threatening to leave a different market short: natural gas.


“The impacts of oil rig counts extend beyond oil: the outlook for U.S. natural gas is critically dependent
on the outcome of this balancing act in U.S. oil rigs,” Anthony Yuen, a strategist at Citigroup Inc. in New
York, said in a report to clients Wednesday. “If the oil market remains oversupplied and oil-rig counts
fall, the decline in associated gas production would leave the market short of gas.”

[...]

REUTERS - COLUMN-Low U.S. gasoline prices are supercharging fuel sales: Kemp

(Reuters) - As the summer driving season ends, U.S. gasoline prices have fallen to the lowest
level for the time of year since 2004, wiping out the effect of more than a decade of rising fuel
bills.

[...]

MARKET WATCH - TruStar Energy Opens Public CNG Fueling Station in Houston

HOUSTON, Aug. 31, 2015 /PRNewswire/ -- TruStar Energy, one of the nation's leading
developers of Compressed Natural Gas (CNG) fueling stations, announced today that it has
opened a company-branded public CNG fueling station at 2109 McCue Road in Houston, TX.
The company's new station will help facilitate continued growth of natural gas as a transportation
fuel in the Texas market. Recent data from the Texas Comptroller's office shows that Texas fleet
operators are purchasing natural gas in record numbers—sale of the fuel has increased 78% over
FY 2014.

[...]

THE WALL ST JOURNAL - Natural Gas Takes On the Mantle of a Haven

Citigroup Inc. is touting natural gas—a commodity so notorious for volatility that its most renowned bet
is called the “widow maker”—as a possible haven for investors weary of other markets’ wild swings.


A sluggish global economy, a staggering China and plummeting oil prices have sent commodity,
currency and stock markets spiraling this summer. But they mean little for U.S. gas futures,
which have been stable for more than two months and even briefly entered a bull market in the
late spring.

[...]

EIA - EIA expects near-term decline in natural gas production in major shale regions

Natural gas production across all major shale regions in EIA's Drilling Productivity Report
(DPR) is projected to decrease for the first time in September. Production from these seven shale
regions reached a high in May at 45.6 billion cubic feet per day (Bcf/d) and is expected to
decline to 44.9 Bcf/d in September. In each region, production from new wells is not large
enough to offset production declines from existing, legacy wells.

[...]

THE WALL STREET JOURNAL - Natural Gas Gets Boost as Oversupply Fears Weaken

Natural gas prices rebounded slightly Friday as warm temperatures and smaller weekly surpluses
have calmed fears that the country’s stockpiles will near capacity going into the winter.


The front-month September contract settled up 1.4 cents, or 0.5%, to $2.801 a million British
thermal units on the New York Mercantile Exchange. Trading stayed within a 5.5-cent range and
settled in the middle of a 25-cent range futures have closed in every day for more than two
months.

[...]

THE WALL STREET JOURNAL - Natural Gas Prices Rise on Warming Weather, Falling Production

Forecasts are retreating from predictions of widespread below-normal
temperatures for this week

 

Natural gas prices bounced back from a three-week low Monday as warming weather and falling

supply show signs the market could be slowly balancing.


Natural-gas futures for August delivery recently gained 1.9 cents, or 0.7%, to $2.735 a million
British thermal units on the New York Mercantile Exchange. The boost puts gas back to the
middle of the 31 cent trading range it has been in since June 9.

[...]

FOX BUSINESS - Natural gas edges past coal to become biggest US electricity source for first time ever

Natural gas overtook coal as the top source of U.S. electric power generation for
the first time ever earlier this year, a milestone that has been in the making for
years as the price of gas slides and new regulations make coal more risky for
power generators.

[...]

MARKET WATCH - EPA ruling may be a ‘big plus’ for natural gas

The U.S. Supreme Court ruling against the Environmental Protection Agency’s regulations on
power-plant emissions is a “big plus” for natural gas, an analyst said Monday.


The Supreme Court ruled that the EPA needs to consider costs when regulating pollution caused
by power plants, which include coal-fired plants. The court ruling keeps the EPA from imposing
new regulations to reduce the amount of mercury and other air toxins.

[...]

THE WALL STREET JOURNAL - Natural-Gas Prices Jump as Oversupply Evaporates

Natural-gas prices rose, as a smaller-than-average increase in the nation’s stockpiles bolstered
the view that a glut is easing.


Gas prices have been resilient all month, defying widespread expectations that heavy supply
would keep hurting prices. A hot spell spreading across the country has raised demand for gasfired
power just as production cuts and pipelines outages began to choke back supply.

 

 

[...]

FOX BUSINESS - Natural gas pipeline rupture in South Texas sparks large fire, prompting evacuations

CUERO, Texas – Authorities say no one was injured after a natural gas pipeline rupture sparked
a massive fire that prompted home evacuations in South Texas.


Spokeswoman Peggy Fonseca with the DeWitt County Emergency Operations Center says an
Energy Transfer Partners pipeline ruptured near Lindenau, in a rural area of the county, around 8
p.m. Sunday.

[...]

MARKET WATCH - Here’s what’s fueling a natural-gas price rally

The weather gave the natural-gas market a good scare on Monday, causing prices to spike by
more than 5%.


A system over the western Gulf of Mexico could potentially become a tropical storm before
moving onshore in Texas on Tuesday, bringing torrential rains to an area that is already suffering
from major flooding, AccuWeather.com reported Monday.
Weather

[...]

THE WALL ST. JOURNAL - Natural Gas Ends at Nearly Three-Week High

Natural gas prices rose to nearly a three-week high Wednesday as expectations for rising demand
and lower supply growth pushed gas to a three-session rally.


Prices for the front-month July contract rose 4.5 cents, or 1.6%, to $2.891 a million British
thermal units on the New York Mercantile Exchange. Prices are now up nearly 12% since they
settled at a six-week low on Friday.

[...]

THE WASHINGTON TIMES - Indianapolis plant switching from coal to natural gas

INDIANAPOLIS (AP) - An Indianapolis Power and Light Co. plant that has produced electricity
for more than 80 years is preparing to burn its last load of coal next spring and switch to natural
gas.


The massive conversion will cost $70 million. It’s a move that Indianapolis Power and Light
says is the utility’s best option to meet clean-air regulations.

[...]

BLOOMBERG BUSINESS - Natural Gas Climbs to 11-Week High on Outlook for Greater Demand

Natural gas advanced to an 11-week high on speculation that demand for the power-plant fuel
will rise.


Plants will burn 13 percent more gas this year to average a record 25.21 billion cubic feet a day,
according to data from an Energy Information Administration report Tuesday. The government
raised its estimate from 24.9 billion in last month’s outlook.

[...]

REUTERS - Air strikes hit Yemen capital, U.N. envoy arrives hours before truce

Saudi-led air strikes pounded the rebel-held Yemeni capital Sanaa on Tuesday just hours before a
five-day humanitarian ceasefire was set to begin.


Looking to prepare for the truce and jumpstart stalled political talks among Yemen's civil war
factions, the new U.N. envoy to the country arrived in Sanaa, saying fighting would not resolve a
conflict that crosses ethnic and religious faultlines.
 

[...]

REUTERS - China crude imports to pick up as storage, buyers emerge

China's appetite for crude oil is expected to pick up later this year as storage comes online and
new buyers emerge, even after its inbound shipments surpassed United States imports last month
for the first time, analysts and traders say.

[...]

Wall St. Journal/Money Beat-Gasoline Prices Accelerate for Summer — Energy Journal

Gasoline prices have soared 31% since hitting a nearly six-year low in late January, Nicole
Friedman reports. Much of the increase has been spurred by a rebound in crude oil, but prices are
also climbing ahead of strong demand during the U.S. summer driving season, which typically
lasts from Memorial Day in late May through Labor Day in early September. Continued low
prices, combined with a relatively stable jobs market, are likely to entice more Americans to hit
the road this summer, in turn keeping prices in the gasoline-futures market higher, investors said.

[...]

FORBES - Ford Sees Growing Demand For Natural Gas Vehicles Like F-150

Ford Motor Co. says the 2016 F-150 pickup will be available with a 5.0-liter V8 engine that can
run on compressed natural gas or propane, part of a growing lineup of CNG vehicles from the
Dearborn, Mich.-based automaker.


Ford’s commercial vehicle customers, in particular, have been asking for more trucks and
vans that can run on compressed natural gas because it lowers their fleet operating costs and
reduces greenhouse gas emissions.

[...]

THE NEW YORK TIMES - U.S. Sends Destroyer After Iran Detains Ship

WASHINGTON — The United States Navy sent a destroyer toward the Persian Gulf on
Tuesday after Iran took control of a Marshall Islands-flagged cargo ship it accused of trespassing
in territorial waters, American military officials said.

[...]

BLOOMBERG - Oil Bears Routed by Spring Thaw in Prices as Drill Rigs Sit Idle

Speculators pulled bearish oil bets at the fastest pace on record as Saudi Arabia
renewed strikes on Yemen and U.S. output slowed.

[...]

REUTERS - UPDATE 2-U.S. oil rig count declines to lowest since 2010 - Baker Hughes

A decline in U.S. oil rigs slowed this week, but left their number at the lowest since
2010, suggesting that the collapse in drilling may be leveling off after slumping crude prices
caused energy companies to idle half the country's rigs since October.

[...]

REUTERS - U.S. oil rig count approaches low point after large drop

(Reuters) - After a precipitous drop since October, the U.S. oil rig count is nearing a pivotal level
that experts say could begin to dent production, bolster prices and even coax oil companies back
to the well pad in the coming months.

[...]

REUTERS - Heavy clashes on Saudi-Yemeni border; Hadi government pleads for troops

(Reuters) - Saudi troops clashed with Yemeni Houthi fighters on Tuesday in the heaviest
exchange of cross-border fire since the start of a Saudi-led air offensive last week, while
Yemen's foreign minister called for a rapid Arab intervention on the ground.

[...]

CNBC - Boone Pickens: Why I see $70 oil by year's end

Energy entrepreneur Boone Pickens said Thursday he sees $70-a-barrel oil by year's end, and
between $80 and $90 within 12 to 18 months.


In an interview on CNBC "Squawk Box," Pickens said U.S. producers are in the process of
rebalancing the market—pointing to the decline rig count in response to the continued collapse in
crude prices.

[...]

BUSINESS INSIDER - US rig count plummets to lowest since April 2011

The number of US oil and gas rigs in use continues to collapse.


This week, the number of US oil rigs fell by 64 this week to 922, according to the latest data
from Baker Hughes. This is the lowest number of oil rigs in use since the week ending on April
21, 2011

[...]

BLOOMBERG - Hedge Funds Raise Bullish Oil Bets as Drillers Idle Rigs

(Bloomberg) -- Speculators raised bullish oil bets for the first time in five weeks as producers curbed new
drilling.


Hedge funds and other money managers increased net-long positions in West Texas Intermediate crude
by 2.7 percent in the week ended Feb. 17, U.S. Commodity Futures Trading Commission data show.

[...]

ABC NEWS - Refinery Workers Strike Spreads to Biggest US Location

Refinery workers strike spreads to biggest US location, sites in Louisiana

 

The first nationwide oil refinery strike in more than 30 years was poised to expand this weekend
in a labor dispute that may start having more of an impact on the price consumers pay for
gasoline.

[...]

FOX BUSINESS - Say Goodbye to $2 Gas

It’s almost over for $2 gas.


Gasoline prices across much of America hit the milestone in December and January following oil’s collapse. The national
average even came awfully close, falling as far as $2.026 based on data from GasBuddy.com.

[...]

THE WALL STREET JOURNAL - Oil Prices Settle Higher

Analysts expect the global market to stay oversupplied through the first half of the
year

 

NEW YORK—Oil prices gained Tuesday, reversing earlier losses, as traders weighed concerns
about Iraqi and Libyan production against an oversupplied market.


Light, sweet crude for March delivery settled up 75 cents, or 1.4%, at $53.53 a barrel on the New
York Mercantile Exchange, the highest settlement since Dec. 30.

[...]

THE WALL STREET JOURNAL - Islamic State Militants Launch Offensive Outside Kurdish-Controlled Kirkuk

Senior Kurdish Commander Among the Dead in Surprise
Offensive in Northern Iraqi Region

Islamic State militants launched their biggest offensive yet outside Kurdish-controlled Kirkuk
and tried to penetrate the city itself, part of a spate of brazen attacks by the extremist group
against Kurdish forces across Iraq on Friday.


A senior Kurdish commander, Brig. Gen. Sherko Fatih, was among at least six Kurdish forces
killed in the surprise attack just after midnight outside the northern Iraqi city, officials said.

[...]

THE WALL STREET JOURNAL - U.S. Gas Prices End Their Record-Breaking Streak of Daily Declines

For the first time in four months, gasoline is a little more expensive today than it was yesterday.
The national average price for a gallon of regular gas was $2.038 on Tuesday, up from $2.033 on
Monday, according to auto club AAA. That half-cent increase was the first overnight price rise
since Sept. 25 and ended the longest streak of daily price declines on record.

[...]

BLOOMBERG - Natural Gas Tops Commodity Gains as Traders Brace for Cold Month

Natural gas climbed the most in almost two weeks as traders braced for a colder end of the
month than previously forecast.


Futures rose as much as 3.7 percent, the most since Dec. 2, making the fuel the best performer
among 22 raw materials in the Bloomberg Commodity Index. Colder-than-normal temperatures
are expected for the upper Midwest by Dec. 26, for Texas by Dec. 27 and the east coast by Dec.
28, forecaster Commodity Weather Group LLC in Bethesda, Maryland, said in an e-mailed
report.

[...]

BLOOMBERG - Natural Gas Tops Commodity Gains as Traders Brace for Cold Month

Natural gas climbed the most in almost two weeks as traders braced for a colder end of the
month than previously forecast.


Futures rose as much as 3.7 percent, the most since Dec. 2, making the fuel the best performer
among 22 raw materials in the Bloomberg Commodity Index. Colder-than-normal temperatures
are expected for the upper Midwest by Dec. 26, for Texas by Dec. 27 and the east coast by Dec.
28, forecaster Commodity Weather Group LLC in Bethesda, Maryland, said in an e-mailed
report.

[...]

BLOOMBERG - Energy Insiders See ‘Fire Sale,’ Buy Most Shares Since 2012

The rout in energy stocks reminds Tim Rochford of something else he’s seen in Texas.


“What happened is almost like a herd of cattle, one cow turns left, all the cows follow it and it’s
a stampede,” said the 68-year-old co-founder of Midland-based Ring Energy Inc., one of 118
industry executives who bought shares of their own companies in the last month amid the worst
losses since 2008.

[...]

CNBC - Oil prices will go up again—are we ready?

The price of gas will go back up. I guarantee it.


Saudi Arabia and the members of OPEC decided to take advantage of America and China's
ability to stabilize oil demand in 2014 to allow the supply of oil to exceed demand and drive
down the price of oil. The motive seems to be to shut in arctic oil efforts in Russia, oil shale in
Canada, deep sea oil in Brazil, and tight oil (fracking) in the U.S.

[...]

MARKET WATCH - Oil tycoon T. Boone Pickens predicts return to $100 a barrel

NEW YORK (MarketWatch) — Prominent oil investor and sometime-renewable-energy booster
T. Boone Pickens predicted Tuesday that the plunging oil price would rebound to $100 a barrel
in the next 12 to 18 months.

[...]

NASDAQ - U.S. New-Car Sales Pace Nears Record Level

Auto makers in the U.S. beat the Black Friday Blahs that hit other retailers, racking up strong
sales of light trucks and cars as consumers jumped at holiday-season deals.

[...]

MARKET WATCH - Opinion: Why crude oil will average $80 a barrel in 2015

There are three arguments for this contrarian view


British banker and politician Nathan Rothschild once said: “Buy when there’s blood running in
the streets.”


And blood is certainly spilling in the streets of the oil and gas industry. The North Sea
benchmark, Brent crude, closed at $70 a barrel on Friday, declining by 40% since June. On
Tuesday it’s trading at around $72.

[...]

THE WALL STREET JOURNAL - Chill Pushes Up Natural-Gas Prices

An early blast of winter cold is reviving concerns about natural-gas supplies and sending prices to a
nearly five-month high.

[...]

THE WALL STREET JOURNAL - Natural-Gas Futures Surge on Cold Weather

Natural-gas prices on Monday soared to their biggest one-day gain in nearly nine months, as
traders and investors braced for below-normal temperatures that are expected to stoke demand
for the heating fuel.

[...]

CNBC - Cramer: Gauging the power of a nat gas trade

You might say this trade is full of hot air. And Jim Cramer couldn't be more delighted.
That's because this trade is all about natural gas.

[...]

THE WALL STREET JOURNAL - Natural-Gas Futures Rise on Demand Hopes

Natural-gas prices climbed Monday on hopes for demand for the fuel after early-season
snowstorms hit the northern Midwest. A fatal explosion over the weekend that shut down a
pipeline that feeds into the delivery point for the benchmark U.S. contract also spurred bets
on tighter supplies.

[...]

FARMERS' ALMANAC - More Shivery And Shovelry! Read Our 2015 Winter Forecast

After the frigid, bitterly cold, and snow-filled winter last year, many of you are wondering just
what this winter might bring. Could it possibly be as bad as last?

[...]

REUTERS - Global LNG: Asian prices edge higher on signs of pick-up in demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose for the second straight week amid signs
demand may pick up in the coming months, traders said.

[...]

EIA - U.S. Gas Exports to Mexico Post Record High, with Further Gains Expected

U.S. natural gas exports to Mexico reached a record high of 2.5 billion cubic feet per day (Bcf/d)
on July 24, averaging 2.3 Bcf/d from June through August and more than doubling since 2010.
This growth is led by higher natural gas demand from Mexico's industrial and electric power
sectors, relatively flat Mexican production, expansions in export pipelines from the United States
and in Mexican pipeline infrastructure, and availability of natural gas supply from the United
States. Mexico's national energy ministry projects that U.S. natural gas exports to Mexico will
double in the next five years, driven primarily by Mexico's growth in gas-fired power generation.

[...]

BLOOMBERG - Natural Gas Rises From 6-Month Low on Cooling Demand

Natural gas futures climbed from a six-month low in New York as forecasts
showed above-normal temperatures that would boost demand for the power-plant
fuel.

[...]

THE WASHINGTON POST - Winter 2014-15: A way too early look at a cold and snowy possibility in D.C.

There are some preliminary signals that next winter could be on the cold and
snowy side, again. I should stress preliminary as much can change between now
and then. But let me walk you through my thought process.

[...]

FUTURES - Refinery In Flames

While Iraq's oil exports surge the fall of the Baiji Refinery is to ISIS terrorists is not providing any comfort to
the global market. The refinery which supplies Bagdad with gasoline and diesel shows that the situation in Iraq
is not getting better.

[...]

BLOOMBERG - Gasoline at U.S. Pumps Set to Hit Six-Year Seasonal High

Gasoline in the U.S. climbed this week, boosted by a surge in oil, and is expected to reach the highest
level for this time of year since 2008.

[...]

BARRON'S - Natural-Gas Stockpiles at a Low

Natural-gas prices are due to get more than the usual summertime boost.  That's because the U.S. has a big hole to fill in its stockpiles.

[...]

THE WALL STREET JOURNAL - IEA Says China Natural Gas Demand to Nearly Double

LONDON—China's natural gas demand is forecast to nearly double by 2019, offsetting
slower growth in Europe and elsewhere, the International Energy Agency said Tuesday in
its annual medium-term gas market report.

[...]

AAA Monthly Gas Price Report: Summer Gasoline Outlook And May 2014 Trends

Gas Prices Expected to Remain High for Summer Driving Season
• AAA expects gas prices to remain relatively high during the summer driving season as
millions of Americans take long road trips to destinations nationwide. AAA predicts the
national average price of gas this summer likely will vary from $3.55-$3.70 per gallon.
Major refinery disruptions, geopolitical concerns or a damaging hurricane season could
send prices higher than forecast.

[...]

THE WALL STREET JOURNAL - How the EPA’s Plan Will Impact Electricity, Coal and Natural Gas Markets

The EPA announced a plan for curbing carbon emissions from power plants, which analysts say has the
potential to sway electricity, coal and natural gas markets for decades.

[...]

BLOOMBERG - Russia-China Natural Gas Deal to Set LNG Price Floor, BofA Says

Russia’s deal to sell natural gas to China after a decade of talks will set a floor for prices of the
liquefied fuel as the Asian nation is set to become the world’s leading consumer, according to
Bank of America Corp.

[...]

THE WALL STREET JOURNAL - The Biggest Markets for Natural-Gas and Electric Vehicles

ROBERT RAPIER: Globally, the market for natural-gas vehicles (NGVs) has been growing
exponentially for the past decade. The U.S. has about 140,000 NGVs on the roads today, but
there are more than 18 million NGVs world-wide. The leading countries for NGV vehicles are
Iran with 3.5 million, Pakistan with 2.8 million, Argentina with 2.3 million, Brazil with 1.8 million,
and China with 1.6 million. With millions of vehicles on the roads, NGVs have made substantial
inroads globally, but have been slower to be adopted in the US.

[...]

THE WALL STREET JOURNAL - House Energy Committee Passes Bill to Speed Up Natural-Gas Exports

WASHINGTON—Five Democrats joined all Republicans on the House Energy and
Commerce Committee to pass legislation on Wednesday that would speed up the federal
government's review of natural-gas export applications.

[...]

WALL STREET JOURNAL - Price of Gas in U.S. Rises as Refiners Export More to Other Countries

Drivers in the U.S. are facing rising gasoline prices ahead of summervacation
season, just as refiners here are shipping more gas to other
countries.

[...]

THE WALL STREET JOURNAL - Where Will Natural Gas Prices Go? Look to the Rigs

Natural-gas traders are returning to a neglected data point to predict where prices will head
next: the weekly rig count.


The count — a survey of the number of rigs drilling for gas released each Friday by oilfield
services firm Baker Hughes Inc. — is key to estimating U.S. production. This winter, the rig
count played second fiddle to weather reports, as freezing temperatures sent gas demand —
and prices — sharply higher.

[...]

BLOOMBERG - WTI Crude Advances as Cushing Inventories Decline

West Texas Intermediate crude gained as inventories at Cushing, Oklahoma, decreased for an eighth week
and demand for gasoline reached a three-month high. Brent rose for the fourth time in five days.


WTI climbed 1.1 percent, ending above $100 for the first time in a week. Stocks at the WTI delivery
point slid 1.33 million barrels in the week ended March 21, the Energy Information Administration said.
Gasoline demand exceeded 9 million barrels a day for the first time this year. WTI also rose as a
Commerce Department report showed vehicle demand lifted February durable-goods orders.

[...]

BLOOMBERG - Ukraine Says Conflict With Russia Turned Military From Political

Ukraine’s government said its conflict with Russia has entered a military phase as clashes in the
breakaway Crimea region intensified, killing at least one Ukrainian serviceman.


The country is seeking to set up a commission including the defense ministers of Russia, the U.S.
and the U.K. to avert further escalation, Prime Minister Arseniy Yatsenyuk told reporters in
Kiev. A soldier was killed when unidentified masked gunmen stormed a military installation in
Crimea, Vladyslav Seleznyov, a spokesman for Ukraine’s defense ministry in the region, said by
phone.

[...]

HOW STUFF WORKS - Why is summer fuel more expensive than winter fuel?

Unfortunately for drivers, gas prices often go up during the summer, starting around Memorial
Day [Source: EPA]. There are many reasons behind the increase in summer fuel prices, and
some are fairly logical. More people traveling, especially on family vacations and road trips,
increases demand. Also, in the spring months, energy companies conduct maintenance on their
refineries, shutting them down and limiting capacity until late May. Because of these disruptions,
oil supplies can become stretched. In addition, natural disasters, like hurricanes, can increase
prices by disrupting transport routes and damaging refineries and other infrastructure.

[...]

FINANCIAL TIMES - Klarman warns of impending asset price bubble

One of the world's most respected investors has raised the alarm over a looming asset price
bubble, calling out "nosebleed valuations" in technology shares like Netflix and Tesla Motors
and warning of the potential for a brutal correction across financial markets.

[...]

THE WALL STREET JOURNAL - Winter's Toll on Gas Inventories May Last

The polar vortex will soon be history, but its impact could linger for months in one vital industry.
The U.S. natural gas market is entering the final month of "withdrawal season," when gas is taken out of
storage to meet demand, with surprisingly low inventories. The government is expected to report
Thursday that storage fell by about another 140 billion cubic feet last week.

[...]

MARKET WATCH / THE WALL STREET JOURNAL - Gasoline prices will spike, but it won’t be solely because of Ukraine

Drivers will indeed be paying much more for gasoline at the pump in the weeks to come, but it
won’t be just because of the events surrounding Ukraine.


U.S. oil futures rose above $105 a barrel on Monday, so naturally consumers expect that jump in
oil prices to hit the gasoline market.

[...]

MARKET WATCH: THE WALL STREET JOURNAL - Crash of 2014: Like 1929, you’ll never hear it coming

SAN LUIS OBISPO, Calif. (MarketWatch) — Imagine, you’re in the exciting
new 21st century. Civilization still exists on Planet Earth. Wall Street’s still in
business. But you’re still asking: Why can’t we hear the next crash? Are we
deaf? No. The warnings are always long and loud. So why can’t we “hear”
them? In fact, it’ll get worse. Here’s why ...

[...]

BLOOMBERG - Gasoline Profit Seen Rising as Refineries Shut: Energy

 The profit from making gasoline may more than double in the New York region through
April as refinery maintenance cuts production and stockpiles.

[...]

GasBuddy: A More Expensive Slice of Gasoline “Pie” Lies Ahead

As a thought experiment, consider the 2014 motor fuel market a pizza, divided
conveniently into eight slices. If you stretch the metaphor, U.S. consumers have
completed the cheapest slice of winter pie since 2010. But GasBuddy predicts that
some much more expensive slice of gasoline pricing is imminent, with pump prices
likely to jump some 15-40cts gal between now and Easter Sunday.

[...]

MARKET WATCH: THE WALL STREET JOURNAL - Scary 1929 market chart gains traction

There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929
crash.


That, at least, is the conclusion reached by a frightening chart that has been making
the rounds on Wall Street. The chart superimposes the market’s recent
performance on top of a plot of its gyrations in 1928 and 1929.

[...]

BLOOMBERG - Gasoline Heads for Biggest Weekly Gain Since December on Repairs

 Gasoline futures headed for the biggest gain in seven weeks on speculation seasonal maintenance

will tighten supply.

Prices increased as much as 1.3 percent. An average of 1.6 million barrels a day of U.S. refining
capacity will be offline in February for planned and unplanned work, according to Amrita Sen,
chief oil market strategist at Energy Aspects Ltd., a research company in London. Another 1.4
million barrels in March and 850,000 barrels in April are scheduled to shut for turnarounds.

[...]

BLOOMBERG - Gasoline Rises to Five-Week High on Below- Forecast Supply Gain

 Gasoline climbed to a five-week high as an Energy Information Administration report yesterday
showed that stockpiles rose less than analysts expected after winter weather swept the U.S.
Northeast last week.

[...]

BLOOMBERG - IEA Sees Higher Oil Demand on Recovery in Developed Nations

Global oil demand will increase this year more than previously forecast, the International Energy
Agency said. A ban on U.S. crude exports may crimp output growth, the Paris-based group said.

[...]

BLOOMBERG - WTI Crude Rises as U.S. Supply Tumbles to 22-Month Low

West Texas Intermediate crude rose after a government report showed that U.S. inventories
tumbled to the lowest level in almost 22 months as imports plunged.

[...]

BLOOMBERG - Fed Officials Saw Declining Benefits From QE, Minutes Show

Federal Reserve officials saw diminishing economic benefits from their bond-buying program
and voiced concern about future risks to financial stability during their last meeting, when they
began to cut the pace of purchases.

[...]

THE WALL STREET JOURNAL - Gasoline Futures Gain On Strong Demand Indications

--U.S. third quarter GDP rose by 4.1%, revised higher due to stronger consumer spending
--RBOB futures up more than 5% for the week
--Unrest in Libya, South Sudan spurs oil supply concerns

[...]

BLOOMBERG - Gasoline Rises to Three-Month High as GDP Growth Supports Demand

Gasoline jumped to a three-month high as the U.S. economy expanded at a faster rate than
previously estimated, indicating fuel demand may increase.


Futures are heading for a weekly increase of 5.2 percent percent, the largest since July. Gross
domestic product climbed at a 4.1 percent annualized rate in the third quarter, the strongest since
the final three months of 2011 and up from a previous estimate of 3.6 percent, Commerce
Department figures showed today.

[...]

BLOOMBERG - WTI-Brent Spread Narrowing as U.S. Exports Record Fuels

The price gap between the world's two biggest oil benchmarks probably will narrow next year as
U.S. exports of refined fuels reach a record and crude supply from the Middle East and North
Africa expands.

[...]

BLOOMBERG - OPEC Pumps Least Crude in More Than 2 Years as Saudi Cuts

 OPEC reduced crude production in November to the lowest level in more than two years as
output dropped below the organization's 30 million barrel-a-day ceiling for a third month.

[...]

THE WALL STREET JOURNAL - Demand Fuels Gasoline

Gasoline and diesel prices rose Wednesday after government data showed strong demand for the
petroleum products for this time of year, while stockpiles fell more than expected last week.
Gasoline futures for December delivery settled 2.35 cents, or 0.9%, higher at $2.6630 a gallon on the New
York Mercantile Exchange. New York Harbor ultralow-sulfur diesel for December gained 4.87 cents, or
1.7%, to $2.9545 a gallon.

[...]

BLOOMBERG - Gasoline, Diesel Advance as Brent Rallies on Libya Disruptions

Gasoline and ultra-low sulfur diesel rose, following Brent crude higher as protests in Libya
disrupted oil exports.


Futures gained as Brent advanced as much as 1.4 percent. Protesters stopped a tanker from
Idocking at the port of Hariga, said Mohamed Elharari, a spokesman for state-run National Oil
Corp. The Zawiya refinery reopened after being shut by protests yesterday, he said. The country's
utput in October was down 69 percent from a year earlier, according to a Bloomberg survey.

[...]

BLOOMBERG - Gasoline Rises as U.S. Employers Add More Workers Than Expected

Gasoline rose from the lowest level since 2011 as U.S. employers added more workers to payrolls in
October than forecast by economists.


Futures gained as much as 1 percent. The Labor Department reported an addition of 204,000 workers to
payrolls in October, above the 120,000 figure that was the median forecast of 91 economists surveyed by
Bloomberg. September payroll gains were revised upward to 163,000.

[...]

BLOOMBERG - Crude Rebounds From Five-Month Low as Fuel Supplies Drop

West Texas Intermediate crude rebounded from the lowest level in five months as gasoline demand
rose to the most since July, trimming fuel inventories

[...]

BLOOMBERG - U.S. Gasoline Falls to Nine-Month Low in Lundberg Survey

The average price for regular gasoline at U.S. pumps fell to the lowest level in
almost nine months as crude-oil price cuts reduced costs.


Regular gasoline slid 2.01 cents in the past two weeks to $3.3628 a gallon, the
least since Jan. 25, Lundberg Survey Inc. said today.

[...]

BLOOMBERG - WTI Crude Rises as Chinese Economic Growth Accelerates

 West Texas Intermediate crude advanced after economic growth accelerated in China, the
world’s largest oil-importing country, and on speculation the U.S. will maintain economic
stimulus.

[...]

BLOOMBERG - WTI Crude Rises as Chinese Economic Growth Accelerates

West Texas Intermediate crude advanced after economic growth accelerated in China, the
world’s largest oil-importing country, and on speculation the U.S. will maintain economic
stimulus.

[...]

BLOOMBERG - EIA Foresees Higher U.S. Gasoline Demand With Lower Pump Prices

 The U.S. Energy Information Administration raised its 2013 forecast for gasoline consumption by 0.1 percent from last month's estimate to 8.71 million barrels a day.
Gasoline demand in 2014 may be 8.67 million barrels a day, up from last month's forecast of 8.66 million, the statistical arm of the Energy Department said today in its monthly Short-Term Energy Outlook. 

[...]

BLOOMBERG - Gasoline Gains as Lower Refinery Output May Reduce U.S. Supplies

 Gasoline climbed from a io-week low on speculation that lower margins may spur refiners to reduce
output even as plant breakdowns and seasonal maintenance may reduce supplies of the motor fuel.

[...]

FINANCIAL TIMES - US would counter Syria oil spike with reserves, say analysts

Expectations are growing in the oil market that a release of crude from the US Strategic Petroleum

Reserve would be likely if prices rose significantly above $120 after a US-led attack on Syria.


A US strike against the regime of Bashar al-Assad is not expected to have any direct effect on oil supplies,
but a release from oil reserves would be used to counter any disruption that hits oil-producing countries
or trade routes.

[...]

BLOOMBERG - Brent Crude May Spike to $150 on Syria Spillover, SocGen Says

Brent crude may “spike briefly” to $150 a barrel if a U.S.-led attack on Syria sparks further conflict in the
Middle East and leads to supply disruptions,Societe Generale SA (GLE) said in a report e-mailed today.


Military action against the regime of Syrian President Bashar al-Assad is likely within the next week,
Michael Wittner, the bank’s New York-based head of oil market research, said in the report. Brent, the
price benchmark for more than half the world’s crude, may rise to as much as $125 a barrel “in the
coming days” in anticipation or event of a strike, the bank said. A spike to $150 is possible if a widening
conflict halts output in Iraq or other Mideast producers.

[...]

CNBC - US becoming 'refiner to the world' as diesel demand grows

 U.S. refineries are expanding their diesel-production capacity, not so much for truckers in the U.S., but for
drivers in places such as Mexico City and Santiago, Chile.

[...]