Natural gas inventories decreased more than expected, helping boost prices. This was a positive short-term catalyst.
The oil inventory report had strong positive signals for oil demand, but prices were flat given news from the Federal Reserve.
Natural gas rigs increased last week—despite largely stagnant gas prices. Natural gas rigs likely will decline in 4Q13.
Although the U.S. may be producing more oil, the increase may not necessarily benefit product tankers, which export refined oil out of the country.
There are three main factors that have contributed to weak oil consumption: slow recovery, fuel economy, and cheaper substitute energies.
Preferred Recycling Equipment | All Rights Reserved © 2010
email@example.com | 905.309.0900 | t. 1.800.679.8783