Weekly EIA Petroleum Report -- September 14, 2022

Breaking

Natural Gas: from a reader: 

Natural gas at $9.09 right now. 

US natural gas futures jumped more than 6% toward $8.8/MMBtu, the highest in almost 2 weeks and slowly approaching 14-year highs of $10 reached in August, boosted by higher demand forecast and more coal-to-gas switching in case of a rail strike. 

 

The potential railroad strike, which could come as early as Friday, could force generators to burn more gas to produce electricity as about two-thirds of the nation's coal-fired power plants receive their coal by rail.

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Near-Term Risks

Link here.

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Weekly EIA Petroleum Report
US Crude Oil Inventory

Link here.

• US crude oil inventories increased by 2.4 million bbls. 

That is all. 

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Gasoline Demand

Link here.

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The Book Page

I'm pretty happy with the reading program I had this past summer. 

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Back to the Bakken

Active rigs: 45.

WTI: $88.83. Creeping up.

Natural gas: $9.062. Trending toward 10-year high. Could benefit from a railroad strike.

No new permits:

One well permitted for recompletion:

• 8324, White Rock, Barkland 1-18-2A, wildct; Bonnie View.