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Saudi Arabia’s Oil Exports Dropped 11% In 2019

Saudi Arabia’s Oil Exports Dropped 11% In 2019

Saudi Arabia’s oil exports dropped…

Oil Rallies On Small Crude Inventory Build

Oil Rallies On Small Crude Inventory Build

Oil prices rose on Thursday…

Hurricane Isaac Prompts Natural Gas Rally

Hurricane Isaac Prompts Natural Gas Rally

Wednesday saw natural gas futures up nearly 1% on news that Hurricane Isaac would push more production offline and potentially damage the natural gas infrastructure in the affected region.

Nearly 72% of the Gulf’s natural gas output was suspended as of Wednesday, up 5 percentage points from the previous day.

Flooding remains the major concern for natural gas infrastructure in the area, but no long-term damage is expected.

Reuters reports that Isaac, the category 1 hurricane, is expected to move inland at a relatively slow 6 mph. 

According to the Wall Street Journal on Wednesday, the front-month natural-gas contract for September settled at $2.634/MMBtu, up two cents, while the October natural-gas contract settled at $2.685/MMBtu, up 5.2 cents.

By. Charles Kennedy of Oilprice.com



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