Oil N’ Gold
Oil and Gold daily News
US Natural Gas Exports, Slowly but Surely
While the hints over the past weeks have favored expanded US natural gas exports, the confirmation of Energy Security Ernest Moniz has delayed a final decision on the process, with 19 export applications on hold for more in-depth review. This has somewhat dampened the momentum following the Department of Energy’s (DOE) decision last Friday to conditionally approve a Texas LNG project. Then on Tuesday, Moniz was officially sworn in and called for a further review of the proposals before making any final decisions. The review he’s waiting…
oil
Technical Review of the Energy Markets – 22nd May 2013
WTI Crude hit profit taking as predicted hitting out target of 95.50 & in fact bottomed exactly here. We could continue lower today for good support at 94.50/40 & a buying opportunity with stops below the 100 day moving average at 93.95. Then look for 93.64 as the next support. If we hold on to 95.50 we could crawl higher to try resistance at 96.45/60. We should struggle here but a push higher targets 97.00/17 for a selling opportunity. Stops above 97.35 for a run to April highs at 97.80 & another selling opportunity, but will need…
oil
Total’s Bright Future: Opportunities Abound
Despite the fact that the European economy continues to struggle, international oil companies (IOCs) headquartered in the region (like Total) will stand to benefit immensely from the seemingly inevitable – albeit gradual – European nuclear phaseout. In 2009, oil & gas (37% oil, 24% gas) accounted for 61% of EU energy consumption versus 14% for nuclear. As the percentage of nuclear power consumption begins to decline, I expect the oil & gas share of the European energy mix to increase significantly. This energy void left by nuclear presents…
oil
Total’s Bright Future: Opportunities Abound
Despite the fact that the European economy continues to struggle, international oil companies (IOCs) headquartered in the region (like Total) will stand to benefit immensely from the seemingly inevitable – albeit gradual – European nuclear phaseout. In 2009, oil & gas (37% oil, 24% gas) accounted for 61% of EU energy consumption versus 14% for nuclear. As the percentage of nuclear power consumption begins to decline, I expect the oil & gas share of the European energy mix to increase significantly. This energy void left by nuclear presents…
oil
