Can Oil Break The $70 Threshold?

As the oil price rally continues it is looking increasingly likely that Brent will break the $70 mark, a scenario that has OPEC on edge as prices move beyond its stated target.

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(Click to enlarge)- The U.S. has seen the installation of around 700 megawatts of utility-scale battery storage capacity over the last several years.

- The total is only 0.06 percent of U.S. utility-scale generating capacity. But the storage market is starting to gain steam.

- As of now, there is another 69 MW of capacity planned for this year.

Market Movers

ONEOK (NYSE: OKE) announced plans to spend $1.4 billion on a new pipeline from the Rocky Mountain region. The 900-mile Elk Creek Pipeline would carry 240,000 bpd of unfractionated NGLs from Montana to Kansas, and is expected to be completed by the end of 2019.

Credit Suisse says its time to buy oilfield services stocks. The oilfield services sector - after suffering the sharpest decline in history followed by the sharpest recovery - is back to what appears to be at least a three-plus year run of somewhat normal growth, Credit Suisse analyst James Wicklund wrote.

Nymex futures for natural gas fell back after the cold snap. Spot prices in New York and New England have spiked to stratospheric levels, but the problem is pipeline capacity not a shortage of natural gas. Nymex gas is still trading below $3/MMbtu.

Tuesday, January 9, 2018

Oil has held onto the strong gains from last week, despite some choppy ....

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