US Department of Energy (DOE) Secretary Rick Perry recently testified before the US House of Representatives Committee on Appropriations that DOE is actively working on plans to transition Appalachia into a petrochemical refining center with investment in the region a priority for national security. Perry further explained the Appalachian region “makes sense because you’re sitting on […]
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Entries by vipercapital
There are several major tax benefits available to oil and gas investors which makes this investment unique above all others. U.S. tax codes favor investment in energy resources and oil and gas lead the way with a catalog of incentives for investors as well as oil producers. Below are just a few of the key […]
West Texas Intermediate (WTI) closed higher last week at $69.36 as seasonal high demand witnessed inventories draw down last week of -5.9 million barrels with demand outpacing supply by 10 million barrels in the last 14 days. Prices remain bid and will soon reach our next target of $76.47 as June prices opened at $67.07 […]
Crude oil inventories data released yesterday, May 31, witnessed a drawdown of 3.6 million barrels (MMBbl) for the week of May 20-26 according to the Energy Information Administration (EIA). The EIA report is released each week and measures the change in the number of barrels of crude oil held in inventory by commercial firms during […]
West Texas Intermediate (WTI) currently trades at 70.18 at this writing and is set to close lower this week after reaching a new 2018 high of 72.87, just a few dollars shy of the 76.47 target cited in our January 2018 forecast. Oil moved lower this week mostly due to strong gains in the US dollar and a surprise surplus […]