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Crude Market Update: January 13th

market update

Oil Inventories Continue to Rise Crude Oil prices after Wednesdays EIA report declined 1.45% for the 24 hour period, closing at 92.61 after a report from the Energy Information Administration (EIA) has showed that fuel stockpiles in the US rose more than expected last week. Stockpiles rose by 5.83 million barrels to 125 million, surpassing analysts’ estimate of a gain ...

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Frigid weather threatens oil output from Texas to ND

cold

(Reuters) The severe cold weather sweeping across the mid-United States is threatening to curtail booming oil production as it disrupts traffic, strands wells and interrupts drilling and fracking operations. Weather stations across the U.S. Midwest recorded some of the coldest temperatures in two decades this weekend, with many schools closed and flights delayed. Arctic cold air is also spreading across ...

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Fire causes $70,000 to local business

fire

By BRIAN GEHRING | Bismarck Tribune Bismarck Tribune Hot ashes in a garbage can sparked a fire Tuesday night or Wednesday morning, causing an estimated $70,000 in damage to a Bismarck business. Capt. Frank Smith Jr. of the Bismarck Fire Department, said the fire was at 219 N. 18th St. in a building adjacent to John’s Meat Market. Smith said ...

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U.S. oil boom could slip in 2015, feds forecast

natural gas

The shale-oil boom that has lifted economies and made millionaires in Texas and North Dakota will slow next year for the first time since it began in 2011, a new federal forecast shows. U.S. oil producers are slated to increase their output by about 750,000 barrels per day in 2015, according to the U.S. Energy Information Administration’s first projections about ...

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Oil price falls below $98 as dollar strengthens

prices

The price of oil fell below $98 a barrel Thursday amid reduced trading volumes and the impact of a strengthening dollar. By early afternoon in Europe, benchmark oil for February delivery was down 72 cents to $97.70 on the New York Mercantile Exchange. On Tuesday, the Nymex contract fell 87 cents to close the year at $98.42. Markets were closed ...

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