(AP Photo/The San Antonio Express-News, Bob Owen)

Hedge funds are losing faith in oil rally while inventory swells

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Oil producers are spending less, idling rigs and delaying wells to stem output that the government predicts will reach a four-decade high this year.
In this Nov. 17, 2014 file photo, smoke rises from the Syrian city of Kobani, following an airstrike by the U.S.-led coalition, seen from a hilltop outside Suruc, on the Turkey-Syria border. The mass beheadings of Egyptian Christians by militants in Libya linked to the Islamic State group have thrown a spotlight on the threat the extremists pose beyond their heartland in Syria and Iraq, where they have established a self-declared proto-state. Militants in several countries - including Libya, Egypt, Algeria, Yemen and Saudi Arabia - have pledged allegiance to IS leader Abu Bakr al-Baghdadi. (AP Photo/Vadim Ghirda, File)

Activists say airstrike hits Islamic State-held oil refinery

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Video from the Turkish Dogan News Agency showed the strikes Sunday night, which saw an enormous fireball engulf the refinery.
Abdalla El-Badri, general secretary of the OPEC (Photo: Chris Ratcliffe/Bloomberg)

OPEC official says oil market to return to balance later this year

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OPEC Secretary-General Abdalla El-Badri also urged OPEC nations to diversify their economies, many of which rely mostly on oil revenue.
Smoke erupts from the scene of a train derailment Thursday, March 5, 2015, near Galena, Ill. A BNSF Railway freight train loaded with crude oil derailed. (AP Photo/Telegraph Herald, Jessica Reilly)

Railroads work to recover from derailments as group calls for oil train ban

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Canadian National Railway Co. is building a 1,500-foot long track to bypass a burning train that derailed Saturday in northern Ontario, while BNSF Railway Co. crews were working Sunday to reopen track in rural Illinois after a train carrying oil derailed three days ago.
(Rovanto/Flickr)

Train carrying crude oil derails in Canada

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The derailment involved 10 train cars — some of which caught fire and entered the Mattagami River System, police said
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NYMEX group launches new contract aimed at crude hoarders

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Producers and middlemen have stashed away record amounts of crude since prices began falling last summer, seeking to save today’s cheap crude for sale at a higher price later on.
(AP file photo/Mark Lennihan)

Producers collect $7.8 billion as Wall Street rushes back to oil

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Wall Street investors in the past two months have pumped $7.75 billion into 16 separate stock-market equity fund-raises for oil companies like Noble Energy, Newfield Exploration, Encana Corp. and Oasis Petroleum, according to Tudor, Pickering, Holt & Co. and Credit Suisse.
A drilling rig in the Utica Shale. (Chesapeake)

Oil rig count falls by 64

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The number of rigs searching or drilling for oil fell by 64 to 922, according oil service company Baker Hughes’ weekly count.
Categories: Crude oil

Changing Seasons in Energyland™

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As the seemingly permanent blanket of snow in my yard lifted this week to reveal the green, green grass below (albeit briefly), I am reminded that seasons change. But it is not just clocks and landscapes that are undergoing a shift, but also a veritable variety of elements in energyland™. So here are some such […]
Smoke and flames erupt from the scene of a train derailment Thursday, March 5, 2015, near Galena, Ill. A BNSF Railway freight train loaded with crude oil derailed around 1:20 p.m. in a rural area where the Galena River meets the Mississippi, said Jo Daviess County Sheriff's Sgt. Mike Moser. (AP Photo/Telegraph Herald, Mike Burley)

Train carrying Bakken crude derails, burns in Illinois

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The derailment occurred 3 miles south of Galena in a wooded and hilly area that is a major tourist attraction and the home of former President Ulysses S. Grant.