News
Cheap Natural gas jumbles energy markets, stirs fears it could inhibit renewables
For the past three years, promoters of shale gas and environmentalists opposed to coal-fi red power plants have hailed the sudden abundance of U.S. natural gas as a bridge to a renewable energy future.; Click here for full 2/2/11 article.
Obama seeks to lift natural gas demand
Plans to increase US demand for natural gas, including a new tax break for gas-fuelled trucks, are being unveiled by President Barack Obama on Thursday as part of the effort set out in his state of the union address to support "American-made energy"..; Click here for full 1/26/11 article.
Obama Rejects Canada-Texas Oil Pipeline for Now
In a politically explosive decision, President Barack Obama on Wednesday rejected plans for a massive oil pipeline through the heart of the United States, ruling there was not enough time for a fair review before a looming deadline forced on him by Republicans.; Click here for full 1/19/11 article.
Nigerian Unions Vow to Paralyze Oil Output
Nigeria's two main oil unions threatened to shut output in Africa's top crude producer as a national strike entered its fourth day, mounting pressure on President Goodluck Jonathan to restore fuel subsidies.; Click here for full 1/12/11 article.
US Natural Gas Supplies Shrank Last Week
The nation's natural gas supplies fell last week, the government said Thursday. The Energy Department's Energy Information Administration said in its weekly report that natural gas in storage shrank by 76 billion cubic feet to 3.472 trillion cubic feet for the week ended Dec. 30.; Click here for full 1/05/11 article.
Oldest U.S. Coal-Fired Plant Converts to Gas
Stricter U.S. regulations on pollution control, together with higher costs incurred in burning coal, have prompted Pennsylvania's Sunbury Generation LP, owner of one of the nation's oldest coalfired power plants, to switch to natural gas by 2015.; Click here for full 12/29/11 article.
EPA tells nation's dirty power plants to clean up
The largest remaining source of uncontrolled toxic air pollution in the United States, the nation's coal- and oil-fi red power plants, will be forced to reduce their emissions or shut down, under a federal regulation released Wednesday.; Click here for full 12/22/11 article.
Oil Rebounds After Biggest Decline Since September Spurs Buying
Oil rebounded from a fi ve-week low in New York on speculation that yesterday's drop, the biggest since September, was exaggerated.; Click here for full 12/15/11 article.
Utility output falls 3.2% on year in week: EEI
Utilities generated 73,695 GWh in the week ended Saturday, 3.2% below the 76,142 GWh generated in the corresponding week of 2010, the Edison Electric Institute said Wednesday. The weekly total was 4,329 GWh above the 69,366 GWh generated in the week ended November 26, EEI said. Dec. 8.; Click here for full 12/08/11 article.
Oil Fluctuates on U.S. Jobless Claims, Rally in Spanish, French Bonds
Oil fl uctuated in New York as more Americans than forecast fi led applications for unemployment benefi ts and as a rally in Spanish and French bonds reduced concern that the European debt crisis is worsening. Dec. 1.; Click here for full 12/01/11 article.
Oil Slides From Five-Month High Amid Speculation Europe Crisis Spreading
Oil fell from a five-month high in New York as Spain's borrowing costs surged, heightening concern that Europe's debt crisis is spreading and will hurt demand. Nov. 17.; Click here for full 11/17/11 article.
Oil Rises Near Three-Month High on Europe Sentiment, U.S.Supply
Oil rose in New York on speculation Europe's economy may weather the region's debt crisis, as equity markets erased earlier losses and the euro recovered against the dollar. Nov. 10.; Click here for full 11/10/11 article.
Oil price rises on US jobs report
Oil is rising as investors turned their attention from Europe's debt struggles to encouraging news about the U.S. economy..... Nov. 03.; Click here for full 11/3/11 article.
Crude Oil Gains on European Debt Agreement, Signs of U.S.Economic Growth
Oil advanced in New York after European leaders agreed on measures to tame a sovereign debt crisis that threatens to slow economic growth and curb demand for commodities.... Oct. 27.; Click here for full 10/27/11 article.
Oil prices rise on surprise supply drop
Oil prices are climbing on an unexpected drop in U.S. crude supplies. Benchmark crude rose 75 cents to $89.28 per barrel on Wednesday in New York. Brent crude rose 39 cents to $111.54 in London... Oct. 20.; Click here for full 10/20/11 article.
Oil Falls for a Second Day on Speculation U.S. and China Demand Will Slow
Oil dropped for a second day in New York as signs of weakening U.S. fuel demand and slowing crude imports in China stoked speculation that consumption will falter in the world's largest energy users.. Oct. 13.; Click here for full 10/13/11 article.
Crude Rises for a Second Day After U.S. Stockpile Drop, Jobs Increase
Oil rose for a second day in New York as shrinking U.S. crude supplies, better-than-expected economic data and signs Europe can control its debt crisis allayed concern that fuel consumption will suffer. Oct. 06.; Click here for full 10/06/11 article.
Crude oil supplies rise by 1.9 million barrels
The nation's crude oil and gasoline supplies rose last week, the government said Wednesday. Crude supplies increased by 1.9 million barrels, or 0.8 percent, to 341 million barrels, which is 4.7 percent below year-ago levels, the Energy Department's Energy Information Administration said in its weekly report. Sept. 29.; Click here for full 09/29/11 article.
Oil companies face new regulations to save birds
In the wake of federal charges accusing seven oil companies with killing 28 migratory birds in open waste pits, oil and gas drilling operations in North Dakota could soon be hit with state regulations that one advocate said would change the face of the state's drilling industry - and save a lot of birds. Sept. 22.; Click here for full 09/22/11 article.
Patriot Energy Playing for Parkinson's
As part of our ongoing community involvement Patriot Energy participated in the Playing for Parkinson's fundraising event this past Wednesday, September 14th. The funds raised during this event will support several important initiatives within the Parkinson's Disease Center at Beth Israel Deaconess Medical Center. Sept. 15.; Click here for full 09/15/11 article.
Natural-Gas Supply Probably Rose 65 Bcf
The U.S. Energy Department's naturalgas inventory report, scheduled for release at 10:30 a.m. in Washington, will show that supplies rose 2.2 percent last week, according to a survey of Bloomberg users. Sept. 07.; Click here for full 09/07/11 article.
Oil Rises as Irene Heads for the East Coast
Oil rose Thursday afternoon as concerns grew about the potential impact of Hurricane Irene on U.S. oil and gas supplies. Benchmark West Texas Intermediate crude rose 62 cents at $85.78 per barrel in New York. Brent crude, which is used to price oil produced abroad, rose $1.10 to $111.25 per barrel in London. Aug. 25.; Click here for full 08/25/11 article.
Natural gas stocks grow more than expected
The nation's natural gas supplies rose more than analysts expected last week, the government said Thursday. The Energy Department's Energy Information Administrationbsaid in its weekly report that natural gas held in underground storage in the lower 48 states increased by 50 billion cubic feet to about 2.833 trillion cubic feet for the week ended Aug. 12.; Click here for full 08/17/11 article.
Gasoline Gains After Report Shows Decline in U.S. Stockpiles
Gasoline futures advanced the most in four weeks after the Energy Department reported that inventories fell for the first time in a month. Futures rose 4.3 percent after the department said stockpiles fell 1.59 million barrels to 213.6 million. Crude supplies fell a second straight week and distillate inventories dropped for the first time since July 1.; Click here for full 08/11/11 article.
Natural Gas Gains First Day in Six on Hot Weather
Scheduled natural gas deliveries to U.S. electricity generators dropped for the first time in three days as shipments to the Northeast declined. A sample of scheduled deliveries to power plants in the U.S. and Canada shows shipments fell 6.3 percent to 22.9 million dekatherms (22.3 billion cubic feet) from 24.4 million yesterday, according to data compiled by Bloomberg. Schedules for 702 of 743 pipelines had been reported as of 3:02 p.m. Scheduled shipments to power generators in the Northeast dropped 1.8 percent to 2.27 million dekatherms, with all 57 pipelines in the region having reported deliveries.; Click here for full 08/03/11 article.
Natural Gas Futures Drop After Bigger-Than-Forecast Supply Gain
Natural gas futures declined after a government report showed U.S. stockpiles climbed more than analysts expected last week. Gas dropped 1.7 percent after the Energy Department said inventories rose 43 billion cubic feet in the week ended July 22 to 2.714 trillion cubic feet. Analyst estimates compiled by Bloomberg showed again of 38 billion.; Click here for full 07/28/11 article.
Gas Stockpiles Probably Rose 61 Billion Cubic Feet>
U.S. natural-gas inventories probably rose 61 billion cubic feet last week,more than the gain a year earlier, as higher nuclear production reduced demand for gas-powered electricity, analyst estimates compiled by Bloomberg show.… Click here for full 07/21/11 article.
Natural Gas Futures Continue Lower After Weekly Inventory Report>
Natural-gas futures plunged Thursday after the government reported a bigger-than-expected weekly build in U.S.inventories.Natural gas for August delivery recently traded down 6.5 cents, or 1.5%, to $4.338 a million British thermal units on the New York Mercantile Exchange. The Energy Information Administration said U.S. natural-gas stockpiles rose by 84 billion cubic feet last week, above the 76-bcf predicted by analysts surveyed by Dow Jones Newswires.… Click here for full 07/14/11 article.
Natural Gas Climbs as Forecasters Predict Return of Heat Wave
Natural gas advanced in New York,posting a third straight weekly gain, on forecasts for a wave of hot weather from the Midwest to the Atlantic Coast this month that would boost demand from power plants. Gas futures climbed 1.8 percent after predictions for above-normal temperatures in parts of the Midwest, South and mid- Atlantic from June 20 through June 24.… Click here for full 06/09/11 article.
Natural Gas Futures Drop After Bigger-Than-Forecast Supply Gain
Natural gas futures dropped from a three-week high after a government report showed that U.S. inventories increased more than forecast last week. Gas declined 1.2 percent after the Energy Department said stockpiles rose 105 billion cubic feet in the week ended May 20 to 2.024 trillion cubic feet. Analyst estimates showed an expected gain of 95 billion.… Click here for full 05/26/11 article.
Natural Gas Futures Hit 4-Week Low After Highest Build Of Year
Natural gas futures extended their earlier losses Thursday after a government report showed the largest weekly build in U.S. inventories so far this year. Natural gas for June delivery recently traded 8.2 cents, or 2%, lower,at $4.116 a million British thermal units on the NYMX. Futures fell as low as $4.088/MMBtu, the lowest intraday price since April 18. The contract traded at about $4.127/MMBtu before the report..… Click here for full 05/19/11 article.
Natural Gas Futures Climb in New York on Smaller-Than-Forecast
Natural gas futures rose in New York after the Energy Department said U.S. stockpiles climbed 70 billion cubic feet last week to 1.827 trillion. Natural gas for June delivery rose 2.8 cents, or 0.7 percent, to $4.209 per million British thermal units after the report was released at 10:30 a.m. in Washington. Gas was trading at $4.189 per million Btu before the storage report.… Click here for full 05/12/11 article.
Natural Gas Tumbles on Storage Increase, Drop in Commodities
Natural gas futures tumbled, heading for the biggest loss in almost seven months, after a government report showed a bigger-than-forecast U.S. inventories gain. Declines accelerated as commodity markets sank on concern economic growth will slow. Gas fell as much as 5.7 percent after the Energy Department said stockpiles increased 72 billion cubic feet in the week ended April 29. Analyst estimates showed an expected gain of 67 billion.… Click here for full 05/05/11 article.
Natural Gas Rises to Three-Month High on Small Storage Increase
Natural gas futures jumped to the highest price in more than three months after a government report showed a smaller-than-forecast stockpile increase. Gas rose for the first time in four days after the Energy Department said inventories increased 31 billion cubic feet in the week ended April 22 to 1.685 trillion. Analyst estimates showed a gain of 38 billion.… Click here for full 04/28/11 article.
Natural Gas Futures Fall, Hit Lowest Price Since November
Natural gas futures Thursday fell to their lowest levels since mid-November as an as-expected storage report didnt provide much support to a market pressured by moderating demand forecasts and a robust production outlook. Natural gas for April delivery recently traded 3.7 cents, or 1% lower, at $3.781 a million British thermal units on the New York Mercantile Exchange. Futures fell as low as… Click here for full 03/03/11 article.
Natural Gas Futures Hit 3 Month Lows After Storage Report
Natural gas futures Thursday fell to their lowest levels since November after a larger-than-average weekly inventory decline wasn't enough to support a market focused on mild weather forecasts and the coming seasonal decline in gas-heating needs. Natural gas for March delivery recently traded 6.8 cents lower, or 1.7%, at $3.853 a million British thermal units on the NYMEX. The benchmark futures contract fell as… Click here for full 02/17/11 article.
Natural Gas Futures Hit 7-Week Lows After Storage Report
Natural gas futures fell to their lowest levels in seven weeks as traders looked past a larger-than-average weekly draw from storage and focused on the coming end to winter's peak heating demand period. Natural gas for February delivery recently traded 4.4 cents lower, or 1.1%, at a million British thermal units on the New York Mercantile Exchange. Futures fell as low as $3.99/MMBtu after the report, the lowest intraday price since Dec. 22. Futures haven't settled below the $4 mark since… Click here for full 02/10/11 article.
Natural Gas Rises to Five-Month High on Inventory Decline
Natural gas futures declined for the second day in three after a government report showed that U.S. stockpiles didn't drop enough to erase a surplus as the weather turns warmer. Gas prices slipped after the Energy Department report showed that inventories fell… Click here for full 02/03/11 article.
Natural Gas Rises to Five-Month High on Inventory Decline
Natural gas dropped to a four-week low on speculation that a stockpile decline last week wasn't enough to keep supplies from reaching a record by November. Gas fell 3.9 percent after the Government said inventories dropped 174 billion cubic feet to 2.542 trillion. Analyst estimates showed… Click here for full 01/27/11 article.
Natural Gas Rises to Five-Month High on Inventory Decline
Natural gas futures rose to the highest price in more than five months after a government report showed that U.S. inventories fell more than forecast last week as cold weather boosted demand for the heating fuel. Gas gained 2.9 percent after the Energy Department said… Click here for full 01/20/11 article.
Natural Gas Futures Drop on Storage, Moderating Weather Outlook
Natural gas futures dropped for the first day in three on forecasts of milder weather that may limit demand for the heating and power plant fuel. Gas declined as much as 1.6 percent as temperatures may be normal or above-normal in the Midwest from Jan. 23 through Jan. 27, according to the Commodity Weather Group in Bethesda, Maryland. Earlier weather forecasts had shown… Click here for full 01/13/11 article.
01/06/11: Natural Gas Off Highs as U.S. Supplies Drop Less Than Expected
Natural gas futures climbed for the fifth time in six days after a government report today showed that U.S. stockpiles fell more than forecast. Gas rose as much as 2.4 percent as inventories dropped 135 billion cubic feet in the week ended Dec. 31 to 3.097 trillion, the Energy Department said. Analyst estimates showed… Click here for full 01/01/11 article.
12/30/10: Natural Gas Off Highs as U.S. Supplies Drop Less Than Expected
The nation's natural gas supplies fell last week, the government said Thursday. The Energy Department's Energy Information Administration said in its weekly report that natural gas held in underground storage in the lower 48 states dropped by 136 billion cubic feet to about 3.232 trillion cubic feet for the week ended Dec. 24. Analysts expected a… Click here for full 12/30/10 article.
12/16/10: Natural Gas Prices Drop to One-Month Low on Inventory Report
Natural gas futures fell to the lowest level in almost a month after a government report showed a decline in U.S. stockpiles that was close to analysts' forecasts. Gas tumbled as much as 4.3 percent after the Energy Department said stockpiles slipped 164 billion cubic feet in the week ended Dec. 10 to 3.561 trillion cubic feet, in line with analyst estimates of… Click here for full 12/16/10 article.
12/09/10: Natural Gas Futures Drop as Report Shows Ample Winter Supplies
Natural gas futures fell from a four month high as a government report showed adequate supplies of the heating fuel for the cold-weather months. Stockpiles dropped 89 billion cubic feet in the week ended Dec. 3 to 3.725 trillion cubic feet, the Energy Department said today. Inventories were 9.8 percent above five year average. Analysts estimated… Click here for full 12/09/10 article.
12/02/10: Natural Gas Falls after Inventories Decline Less Than Expected
Natural gas futures fell in New York, heading for the first weekly decline in three weeks, after a smaller than expected stockpile drop signaled ample supplies. Gas dropped after the report showed that inventory levels fell 23 billion cubic feet in the week ended Nov. 26 to 3.814 trillion, an Energy Department report showed. A surplus to the five-year average… Click here for full 12/02/10 article.
11/18/10: Natural Gas Futures Extend Decline in After Inventory Increase
Natural gas futures extended a decline after a government report showed that U.S. stockpiles rose to a record for a second straight week. Gas inventories rose 3 billion cubic feet in the week ended Nov. 12 to 3.843 trillion cubic feet, the Energy Department said today. Analyst estimates showed a gain of 8 billion. Natural gas for December delivery fell… Click here for full 11/18/10 article.
11/11/10: Natural Gas Falls, Snapping Rally, as Supplies Rise to Record
Natural gas futures fell for the first time in five days after a government report showed that U.S. stockpiles rose to a record last week. Gas inventories increased 19 billion cubic feet in the week ended Nov. 5 to 3.84 trillion cubic feet, the Energy Department said today, topping the record set in last November. U.S. gas output this year will rise to the highest level in 37 years, the department forecast yesterday… Click here for full 11/11/10 article.
11/04/10: Natural Gas Declines After Bigger-Than-Forecast Stockpile Gain
Natural gas futures declined in New York after a government report showed that U.S. inventories increased more than forecast last week, bringing stockpiles close to a record. Supplies gained 67 billion cubic feet in the week ended Oct. 29 to 3.821 trillion, the Energy Department said today. Analyst estimates… Click here for full 11/04/10 article.
10/21/10: Natural Gas Drops to 13-Month Low After Inventory Increase
Natural gas futures dropped to the lowest price in 13 months after a government report showed that U.S. inventories rose more than expected last week. Gas stockpiles increased 93 billion cubic feet in the week ended Oct. 15 to 3.683 trillion, the Energy Department said today. Analysts had expected… Click here for full 10/21/10 article.
10/14/10: Natural Gas Futures Rise as Storage Build Meets Views
Natural Gas futures reversed their earlier losses Thursday, breaking into positive territory after a weekly storage report came in near analysts' expectations. Natural gas for November delivery rose 0.6 cent, to $3.702 per million British thermal units on the New York Mercantile Exchange. The benchmark contract had fallen as low as $3.595/mmBtu in early trading, but pared those losses after… Click here for full 10/14/10 article.