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Gold/Mining/Energy : Big Dog's Boom Boom Room
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Recommended by:
evestor
LoneClone
To: Dennis Roth who wrote (179146)7/9/2013 8:00:27 AM
From: Dennis Roth2 Recommendations  Read Replies (1) of 206191
 
Citi's Exploration and Production Sector Weekly

E&P Shares Outrun Broader Market Alongside Surge In Oil Prices
7 July 2013 ¦ 18 pages Click Here

...Crude oil prices surged for the second-straight week driven by the positive economic
data along with geopolitical tensions in the Middle East with the Egyptian military
ousting President Morsi. In addition, last week’s U.S. crude plus product inventory
report was quite bullish. Thus, WTI spot prices rose nearly 7.0% to $103.22/Bbl while
Brent prices gained 5.4% to $107.72/Bbl with the Brent-to-WTI spread narrowing to
$4.50/Bbl. Meanwhile, although record temperatures across the western portion of the
U.S. provided a lift to the NYMEX futures contract, Marcellus shale prices tumbled on
some interconnects due to pipeline maintenance and seasonally low demand due to
cooler temperatures along the east coast which undermined the 12-region composite
spot cash price. Also, last week’s natural gas storage injection figure was essentially in
line with expectations. Thus, the front-month NYMEX natural gas futures contract rose
~1.1% to $3.62/MMBtu while the 12-region composite spot cash index plummeted
~5.5% to $3.41/MMBtu...
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