Natural Gas Inventory 94 bcf vs 98 bcf Expected Oct 23, 2014 10:30AM

Natural Gas Inventory 94 bcf vs 98 bcf Expected

Traders are watching futures and ETFs like United States Natural Gas (NYSE: UNG).


UPDATE: Crude Inventory 7.1M Barrels vs 2.8M Expected Oct 22, 2014 10:33AM

(Updated - October 22, 2014 10:33 AM EDT)

Crude Inventory for the week ending Oct. 17 increased 7.1 million barrels vs a gain of 2.8 million expected.

Cushing inventory grew 953 thousand barrels.

Gasoline inventory declined 1.3 million barrels vs a decline of 1.56 million expected.

Distillate inventory grew 1.05 million barrels vs a declined of 1.1 million expected.

Traders are watching energy futures and ETFs like United States Oil Fund (NYSE: USO).


UPDATE: Crude Inventory 7.1M Barrels vs 2.8M Expected Oct 22, 2014 10:33AM

(Updated - October 22, 2014 10:33 AM EDT)

Crude Inventory for the week ending Oct. 17 increased 7.1 million barrels vs a gain of 2.8 million expected.

Cushing inventory grew 953 thousand barrels.

Gasoline inventory declined 1.3 million barrels vs a decline of 1.56 million expected.

Distillate inventory grew 1.05 million barrels vs a declined of 1.1 million expected.

Traders are watching energy futures and ETFs like United States Oil Fund (NYSE: USO).


Prince Al-Waleed bin Talal Talks Oil Prices, Stocks and ISIS on FBN Oct 21, 2014 11:13AM

Prince Al-Waleed bin Talal spoke with FOX Business Network's (FBN) Maria Bartiromo in a wide-ranging interview about regulation, real estate, Yahoo! and oil production. Prince Al-Waleed bin Talal spoke about regulation saying, it's "organized confusion" and that the United States is "overregulated in the financial industry." When asked whether he would buy Yahoo!, he said, "No, thanks, I don't buy Yahoo!" and that "the market is just putting a price tag that's equal to its share, its share in Alibaba." Prince Al-Waleed went on to talk about oil production in Saudi Arabia saying, "I don't think that Saudi Arabia now is in a position to reduce its production, exactly like the position of United Arab Emirates and Kuwait" and the reason oil prices are falling is because of "a confluence of events, on the supply side, on the demand side."

Excerpts from the interview are below:

On regulation:

"I believe, frankly speaking, that the United States has -- it's overregulated in the financial industry. I think we should have one regulator that clearly supervises everything, because right now you have seven regulators or six regulators. Each one comes with his own opinion, his own recommendations, so it's really, it's like an organized confusion you have right now. And you need to get stability in the banking industry. Banks are doing better than before right now, and I think that you have to inject stability there by telling them exactly where are they heading, what's needed from them."

On whether he would buy Yahoo!:

"No, thanks, I don't buy Yahoo!. I respect Yahoo!. I respect the lady CEO over there, but obviously I believe Yahoo! right now, the market is just putting a price tag that's equal to its share, its share in Alibaba. So, frankly speaking, I have no further comments on Alibaba, on Yahoo!, but really, the market is not putting a lot of credence into that company."

On whether he has seen pullback in terms of real estate:

"No, no. I saw actually in the hotel industry, the management part and the real estate part, we have seen no slowdown at all. Actually we've seen some growth. Actually, George V in Paris, the Savoy in London, the Plaza in New York, the San Francisco Fairmont, the Raffles in Singapore, what's similar among them is they're all showing growth...so, no, we've no slowdown at all, whatsoever, at all. Actually, they're picking up and doing better and they are a lot better than the big crisis era."

On the whether the price of oil would be a catastrophe for the Saudi Arabia economy:

Yes, and I reiterate again now...the minister of oil. That same minister just a few months ago set at $100 the price of oil. Everybody is happy, the consumers and the producers. Well guess what now? The price of oil now is $80; we hear nothing out of him. Having said that, the price of oil at $80 is not news at all for Saudi Arabia. Look, Saudi Arabia is 90 percent of its budget is based on oil. And can you imagine a $20 collapse, which is 20 percent from $100, causes a major ripple effect in our budget for this year and next year."

On the reason oil prices are falling:

"It's a confluence of events, on the supply side, on the demand side. Let me explain to you. On the supply side, you've seen now the United States is increasing its oil production and gas production. We've seen how other countries also are increasing their production. Also fracking in the United States is going up. Some of the countries also in Europe and Paris are beginning to get into the fracking business, also. And also, in the Middle East, also, Iraq -- with all that's going on there, in southern part of it, also exports are still taking place.... So on the supply side we're not seeing any drying up; actually we're seeing an increase in supply. On the demand side, we've seen how China as you've said that grew at 7.3 percent... Also, Japan also is sitting on the verge of recession. But really what broke the camel's back was really -- is the revision of Germany's growth from 2 percent to 1.3 percent. This was really the final straw that broke the camel's back whereby the market jitters increased and expectation of demand were, I believe, were diminished substantially."

On what he would like to see happen from the Saudi standpoint right now:

You know, Saudi Arabia's position with the UAE, United Arab Emirates, and Kuwait, publicly went out and said that we will not reduce our production. Because if we do reduce our production, some others will come and increase their production and they'll lose market share. So basically they'll be having double hits by having less production with less price of oil...I don't think that Saudi Arabia now is in a position to reduce its production, exactly like the position of United Arab Emirates and Kuwait."

On whether he is expecting a decline in production in the coming months which would result in oil prices going back up:

"Well, I think there are a few choices. Choice number one, they all meet together, the OPEC countries, and agree to reduce the production, whereby at least to maintain the existing price level or maybe to have it go up to a price acceptable to producers and consumers."

On whether the markets are being rattled today:

Well, you know, yesterday I was meeting with President Hollande the other day and we had the top leaders and seniors of the sovereign oil funds from North America, from Far East, from Australia, and from the Gulf Region. And they all showed some warnings and concerns and jitters about the potential reduction of growth in China, Japan and now in Germany, because Germany, if it slows down, is going to affect the whole European arena. And Mr - President Hollande was very adamant in his position, and alliance clear with many other leaders in the southern part of Europe, like Italy, Spain and Portugal, whereby they would like to get some additional stimulus into the European Union. And this obviously is being faced with some tough rejection from Germany, but I think now with the reduction of growth, potential growth in Germany from 2 percent to 1.3 percent, I think Germany would begin to be more lenient in that front. So growth is the name of the game."

On the banks:

Well, you know, Kingdom Holding is a mature company. It's a market cap of around $24 billion, $25 billion. So that's why we are mature and we act in mature manner. So, we only invest in those companies I believe have growth like JD.com in China, like Twitter in the United States, and like many other project sin the Middle East. As for Citigroup results. We have seen, really, Citigroup this quarter shine, because if you compare them with the other big competitors like Bank of America, really, which was basically at the zero level flat, and J.P. Morgan, which missed, and Wells Fargo that met. It was Citigroup only that beat the results. So really, Citigroup under the leadership of Mr. Corbat have really saw some consistency and perseverance in the results and the results of this quarter proved very much that they're on the right track under Corbat's leadership. And, by the way, I just met him in Riyadh just three days ago."

On his shift into investing in technology companies:

"Well, sure, we were the first investors in Apple. When we went to Apple, the price was $9. And I remember Steve Jobs telling me, first telling me when I met him in California, saying that you are the only believer in our company. And, yes, we do still have the stake in Apple. As for really moving to JD.com in China and Twitter in the United States, these are really high flying and star companies in their arenas. And, yes, we are very focused in our plan investing in these companies. And to tell you, frankly speaking, many companies come to us in this arena and just last two weeks we have declined maybe two or three companies because they were overvalued and we believe that their future is not as secure, as guaranteed as Twitter and as JD.com in China. So we are very selective."

On his reaction to the coalition between Saudi Arabia and the U.S. to destroy ISIS:

"The question is not is it going to work or not. I think the world community no choice but not to only contain and degrade but to eradicate ISIS. ISIS is a disease, is a danger, because these are people are sending us back to the dark ages, the middle ages. And that cannot be accepted or tolerated at all. We've seen how men have been slaughtered. We've seen how ladies have been enslaved. We've seen how -- I've seen youngsters being imprisoned. This can't continue. And I believe eventually -- thank god that Mr. Obama took leadership, and right now under the leadership of the United States, we have Saudi Arabia, United Arab Emirates, Qatar, Bahrain, and Jordan are all fighting right now."


Jefferies Cuts 2015 Brent Forecast to $90/bbl Oct 21, 2014 06:53AM

Jefferies is lowering their Brent price forecast to $90/bbl in 2015 and $98/bbl in 2016 from the previous $105/bbl in both years.

Analyst Jason Gammel said, "The market is in surplus from a combination of weak demand and surging supply and there has as yet been no concerted effort from Saudi Arabia/OPEC to cut production. Estimates of global GDP growth only seem to be going down and thus the market could be over-supplied through the better part of 2015."


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Oct 20, 2014 04:58PM Maria Bartiromo to Interview Prince Al-Waleed bin Talal Tuesday, October 21st
Oct 16, 2014 01:13PM WTI, Brent Hit Session Highs (USO)
Oct 16, 2014 11:03AM UPDATE: Crude Inventory Grows 8.9M Barrels vs 2.3M Expected
Oct 16, 2014 11:03AM UPDATE: Crude Inventory Grows 8.9M Barrels vs 2.3M Expected
Oct 16, 2014 10:30AM Natural Gas Inventory 94 bcf vs 90 bcf Expected
Oct 16, 2014 07:11AM WTI crude falls below $80 for first time since June 2012 (OIL) (USO)
Oct 15, 2014 02:02PM Most Regional Fed Banks Saw Modest or Moderate Economic Growth - Beige Book
Oct 15, 2014 02:02PM Most Regional Fed Banks Saw Modest or Moderate Economic Growth - Beige Book
Oct 14, 2014 09:57AM IEA Lowers Oil Demand Outlook for FY14 on Economic Growth Outlook, Weak Recent Trend (USO) (OIL)
Oct 14, 2014 07:04AM PIRA Energy Group's Weekly Oil Market Recap for the Week Ending October 12th 2014
Oct 9, 2014 02:34PM WTI crude futures close 20% below June peak (USO) (OIL)
Oct 9, 2014 02:14PM Gold Rises Again as Traders Hedge Volatile Market (GG)
Oct 9, 2014 12:20PM Brent crude falls below $90 for first time since June 2012 - Bloomberg
Oct 9, 2014 10:30AM Natural Gas Inventory 105 bcf vs 109 bcf Expected
Oct 8, 2014 02:01PM Fed Officials Saw Global Slowdown Among Risks to U.S. Outlook
Oct 8, 2014 02:01PM Fed Officials Saw Global Slowdown Among Risks to U.S. Outlook
Oct 8, 2014 10:34AM UPDATE: Crude Inventory 5M Barrels vs 1.68M Expected
Oct 8, 2014 10:34AM UPDATE: Crude Inventory 5M Barrels vs 1.68M Expected
Oct 6, 2014 01:23PM Gold Retakes Key Level at $1200/oz (GDL) (SLV)
Oct 3, 2014 08:35AM Nonfarm Payrolls Expanded 248K in Sept., Outpacing Views on Services, Retail, and Health Care Gains
Oct 2, 2014 11:08AM Cheniere Energy (LNG) Trades Lower as Nat-Gas Declines
Oct 2, 2014 10:30AM Natural Gas Inventory 112 bcf vs 106 bcf Expected
Oct 2, 2014 10:26AM Goldman Sachs Lowers Met Coal Price Outlook for 2015 to $126/MT
Oct 2, 2014 07:03AM Four Reasons Why Crude in Plunging
Oct 2, 2014 06:52AM Crude Slips Below $90/Barrel for First Time Since 2013 (USO) (OIL)
Oct 1, 2014 10:32AM UPDATE: Crude Inventory -1.4M Barrels vs 925K Expected
Oct 1, 2014 10:32AM UPDATE: Crude Inventory -1.4M Barrels vs 925K Expected
Sep 25, 2014 10:30AM Natural Gas Inventory 97 bcf vs 95 bcf Expected
Sep 24, 2014 10:35AM UPDATE: Crude Inventory -4.3M Barrels vs 470K Expected
Sep 24, 2014 10:35AM UPDATE: Crude Inventory -4.3M Barrels vs 470K Expected
Sep 23, 2014 09:20AM BofA/Merrill Lynch Downgrades Cameco Corporation (CCJ) to Neutral
Sep 23, 2014 07:18AM Iron ore falls below $80/ton for first time since Sept. 2009 - Bloomberg
Sep 18, 2014 10:31AM Natural Gas Inventory 90 bcf vs 91 bcf Expected
Sep 17, 2014 10:36AM UPDATE: Crude Inventories Rose 3.67 Million Barrels
Sep 17, 2014 10:36AM UPDATE: Crude Inventories Rose 3.67 Million Barrels
Sep 12, 2014 03:10PM Investors Could Be Lowballing Risk of FOMC Hawkishness, Says Citi
Sep 12, 2014 09:16AM OPEC Daily Basket Price Stood at $95.35/Barrel (USO) (OIL)
Sep 11, 2014 10:30AM Natural Gas Inventory 92 bcf vs 84 bcf Expected
Sep 10, 2014 10:33AM UPDATE: Crude Inventory -972K Barrels vs -1M Expected
Sep 10, 2014 10:33AM UPDATE: Crude Inventory -972K Barrels vs -1M Expected
Sep 4, 2014 11:03AM UPDATE: Crude Inventory -905k Barrels vs -770K Expected
Sep 4, 2014 11:03AM UPDATE: Crude Inventory -905k Barrels vs -770K Expected
Sep 4, 2014 10:30AM Natural Gas Inventory 79 bcf vs 74 bcf Expected
Aug 29, 2014 02:15PM Deutsche Bank Analyst Discusses Marcellus Data (WPX) (EQT)
Aug 28, 2014 10:30AM Natural Gas Inventory 75 bcf vs 78 bcf Expected
Aug 27, 2014 10:33AM UPDATE: Crude Inventory -2070K Barrels vs -945K Expected
Aug 27, 2014 10:33AM UPDATE: Crude Inventory -2070K Barrels vs -945K Expected
Aug 22, 2014 10:00AM Fed's Yellen says FOMC sees 'significant' under-use of labor resources
Aug 21, 2014 10:31AM Natural Gas Inventory 88 bcf vs 84 bcf Expected
Aug 20, 2014 10:32AM UPDATE: Crude Inventory -4.47M Barrels vs -1.1M Expected
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