- Operators: BR (2)
Fields: Sand Creek (McKenzie - Comments:
- 16181, PNC, Novus Energy, William 1, McKenzie
- 21886, PNC, Renegade Petroleum, Solemsaas 13H 15-2, Renville
U.S. crude inventories in the United States rose by 7.3 million barrels last week to their highest December level on record, the Energy Information Administration reported. Analysts had expected a drop of 2.3 million barrels.
Oil prices were already lower in extremely thin holiday volume, and extended losses after the EIA data. Crude was down as much as $2 a barrel. Brent seesawed on both sides of $60 and U.S. crude hovered around $55.
"It's a Christmas flood of oil at a time when refiners and producers usually are letting inventories get lower for end-of-year tax reasons, but with this flood of supply there's no place to put it," said Phil Flynn, analyst at Price Futures Group in Chicago.
Jobs: unemployment claims unexpectedly fall 9,000 to seasonally massaged 280,000, the lowest in .... drum roll ... the lowest in seven weeks. The four-week average fell 8,500 to 290,250.Describing the data as "very bearish" and playing into "the mantra of supply glut", Flynn said it would be interesting to see if U.S. crude would test a $53 low before the year ended.
Active rigs:
12/24/2014 | 12/24/2013 | 12/24/2012 | 12/24/2011 | 12/24/2010 | |
---|---|---|---|---|---|
Active Rigs | 173 | 188 | 185 | 197 | 162 |
President Obama extends tax break for Dakota farmers and ranchers. The Rapid City Journal is reporting:
When December comes to an end, the only things left from a long line of John Deere Green tractors in RDO Equipment parking lot in Rapid City may be the imprint of tire treads in the soft ground.
The continued demand from consumers for beef and the dwindling livestock numbers have raised beef sales to record prices over the past year, which means the annual income for many Black Hills ranchers is up.
While that could have meant a drastic spike in taxes for area farmers and ranchers, a 1-year tax break extension, signed into law by President Barack Obama on Friday, will allow them to deduct equipment purchases from their 2014 taxes.
The tax break allows businesses to deduct up to $500,000 when they file their 2014 tax returns, provided those businesses spend that money on equipment and put it into use by midnight Dec. 31, according to the website.RBN Energy: final segment on the diluent pipelines for western Canadian oil sands.
******************************
At Least It's Hard To Catch
Tweeting now, two tweets on Ebola:
Global death toll from Ebola has risen to 7,588 out of 19,497 confirmed cases recorded in the year-old epidemic raging in West Africa, the World Health Organization says - @Reuters
Sierra Leone declares 5-day Ebola lockdown in north of country - @AFPMeanwhile, the CDC says about 1,440 people in the US are currently on the Ebola watch list; that information is not available on their website, but reporters specifically asking the question, get that answer.
Later, same day, tweeting: CDC officials say there was no possible exposure outside the secure laboratory at CDC and no exposure or risk to the public after potential Ebola exposure in Atlanta lab - @washingtonpost. The Washington Post has a longer report here. It looks like it was just a simply human error. It happens.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.