Robert's Feed
May 16, 2012

Gasoline bull trap set to be sprung-Campbell

NEW YORK, May 16 (Reuters) – This week’s U.S. government oil
inventory data have placed a tempting morsel on the trigger of a
big bull trap in the gasoline market. It should be sprung
shortly.

Persistent declines in U.S. gasoline inventories have
finally eroded the year-on-year surplus in stocks, pushing
supplies to a 1.6 million barrel deficit when compared to the
same week in 2011.

May 7, 2012

Liquids-rich natgas shale frenzy creates new glut-Campbell

NEW YORK, May 7 (Reuters) – U.S. natural gas drillers, stung
by decade-low gas prices, have flooded into so-called
liquids-rich plays, but the surge in natural gas liquids (NGLs)
output that was meant to salvage profitability is leading to a
new glut.

Big shale gas drillers, including Chesapeake Energy
and EnCana, have pivoted away from “dry” shale gas
plays like the Haynesville Shale in Louisiana, in favor of
shales that hold liquids as well as natural gas, such as Texas’
Eagle Ford Shale.

May 3, 2012

Chesapeake woes may be lifeline for U.S. natgas-Campbell

NEW YORK, May 3 (Reuters) – Consider the following, as yet
hypothetical, situation. The United States’ No. 2 natural gas
producer is forced into a radical shift in corporate strategy,
leading to a sharp reduction in the wells it drills.

Imagine the impact this shift might have on the natural gas
market. The cause of today’s decade-low gas prices is
over-enthusiastic drilling by many gas producers.

Apr 19, 2012

Cheap European gasoline set to hit U.S. market-Campbell

NEW YORK, April 19 (Reuters) – U.S. gasoline traders are
bracing for higher imports from Europe as a slump in European
benchmark prices has re-opened the door to arbitrage shipments
to the New York Harbor.

European cash gasoline prices spiked in late March as heavy
regional refinery maintenance cut into supplies, sending cash
Eurobob gasoline blendstock prices in the
Amsterdam-Rotterdam-Antwerp hub above New York Harbor cash RBOB
gasoline prices.

Apr 17, 2012

Column: Obama and the oil speculator bogeyman – Campbell

NEW YORK (Reuters) – When a politician trots out the mythical evil speculator as an explanation for why a market is not yielding cheap goods for consumers, you can be almost certain that the real reasons for rising prices are being ignored.

U.S. President Barack Obama’s latest attempt to blame speculators for high oil prices smacks of cheap electoral politics and ignores the awkward fact that regulators have hardly turned up much evidence of malicious market manipulation and prosecuted even fewer evil speculators.

Apr 16, 2012

YPF grab won’t fix Argentina’s energy woes-Campbell

NEW YORK, April 16 (Reuters) – Argentina’s planned takeover
of oil and gas company YPF is a desperation move aimed at
boosting investment in oil and gas production while avoiding
policy shifts that might have otherwise made the sector more
attractive to private capital.

The country’s oil and gas reserves have tumbled in recent
years as heavy-handed regulation has made the sector
unattractive to many private investors.

Apr 13, 2012

Brent needs major overhaul now, not more tinkering-Campbell

NEW YORK, April 13 (Reuters) – Dated Brent, the
Frankenstein’s monster of a benchmark that underlies a huge
proportion of the global oil market, needs yet another
restructuring as North Sea production problems have again
winnowed its basis down to a relative trickle.

Output of the four crude streams used to determine the Dated
Brent price will fall to only 875,000 barrels per day in May as
natural decline rates and the shutdown of Total’s
Elgin/Franklin field combine to leave the benchmark on a
perilously thin basis.

Apr 4, 2012

Coming soon: a Louisiana crude oil glut-Campbell

NEW YORK, April 4 (Reuters) – Oil refineries in Louisiana
are likely to get a taste of the fat profits enjoyed by plants
in the North American interior perhaps as soon as this summer
when a major Gulf of Mexico pipeline currently used to deliver
crude to Texas will stop moving oil westward.

Royal Dutch Shell wants start a $100 million
reversal of its Ho-Ho pipeline system as soon as August,
according to an application filed with U.S. regulators.

Apr 2, 2012

Shale not immune to toxic energy politics-Campbell

NEW YORK, April 2 (Reuters) – Any optimistic view of oil and
gas supplies in the wake of the shale revolution must be
tempered by an acceptance that the politics that crimped
conventional energy production are not going away any time soon.

The shale revolution in the United States is the basis for
much optimism. Just a few years ago expert opinion was that the
country was on track to become a major importer of natural gas,
probably from the Middle East.

Mar 30, 2012

Japan, not Iran, may be oil market’s focus in April-Campbell

NEW YORK, March 30 (Reuters) – The showdown between Iran and
the West over Tehran’s nuclear program remains the overarching
risk facing oil markets but in the near term, nuclear power in
Japan may well become the short term focus for traders.

The near total shutdown of Japan’s nuclear power industry
since last year’s devastating earthquake and tsunami turned the
Japanese electricity sector into a surprise source of oil demand
growth in Asia last year.