Updates from Northland Energy Trading

  • Propane News & Numbers 11/17/2020
    Propane prices strengthened slightly on Monday, while crude futures rallied. Brent crude jumped 2.4% and WTI crude futures shot up 3.0% following news that Moderna's COVID-19 vaccine appeared to be nearly 95% effective, following similar news from Pfizer on its vaccine. Additionally, there was talk that OPEC+ is considering ... Read more

  • Market News 11/17/2020
     Reuters reports that OPEC+ sees oil inventories continuing to fall next year, if producers extend the current level of output cuts for an additional three months or more. As of now, OPEC+ is set to increase output by 2mb/d in January, but the recovery in demand looks threatened by the resurgence of the coronavirus. Reuters reported this morning that state governors from New Jersey to Iowa, Ohio, and California have announced actions... Read more

  • Energy Report 11/16/2020
    Canadian manufacturing sales figures for September showed a rise of 1.5%, matching forecasts. European stock markets closed higher today with the DAX up 0.5%, the FTSE 100 and the CAC 40 both adding 1.7%. US stock market indexes were seeing gains of between 0.3% (Nasdaq) and ... Read more

  • Heating Degree Day 11/16/2020
    Read more

  • Market News 11/16/2020
    Petroleum futures were seeing gains of over 3.5% in the overnight session on Monday amid news of a progress in COVID-19 vaccine by Moderna, gains in European equities and in US stock market index futures. Market participants looked ahead to data on Canadian manufacturing... Read more

  • Energy Report 11/13/2020
    Baker Hughes reported a rise of 10 in the US oil rig count bringing the total to 236 - which is 438 lower than the same week last year. Also in the news, OPEC+ compliance with oil production cuts was 101% last month according to three OPEC+ sources. European shares closed mixed today with the FTSE 100 down 0.4%, while the DAX added 0.2% and the CAC 40 closed 0.3% higher. In US economic news, the Producer Price Index (PPI) rose 0.3% last month..... Read more

  • Market News 11/13/2020
    Petroleum futures were falling further in the overnight session on Friday amid an increasing Libyan oil output, despite gains in US stock market index futures and weakness in the US dollar. Reuters reports that Libyan oil production has now reached 1.215mb/d.... Read more

  • Energy Report 11/12/2020
    Petroleum futures weakened today amid losses in European and US equities, an unsupportive comment from the IEA regarding the 2021 global oil demand forecast, and bearish US crude oil inventory data from the EIA. The EIA reported a 4.28mb build in commercial crude stocks, against expectations ... Read more

  • Petroleum Status Report 11/12/2020
    WEEKLY PETROLEUM STATUS REPORT Released Market Guesstimates API EIA vs. 1yr vs. 5yr Crude -1.96 ... Read more

  • Market News 11/12/2020
    In the news the International Energy Agency (IEA) said that global oil demand will unlikely get a significant boost from the roll-out of vaccines against COVID-19 until well into 2021. Due to the holiday yesterday, the EIA is due to release its weekly inventory ... Read more