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U.S. natural gas futures were nearly steady on Tuesday in line with weather forecasts, but the market finished 2019 with its biggest annual decline since 2014. The contract posted a yearly fall of 25.5%, after ending 2018 nearly unchanged. It was one of the biggest decliners among commodities in 2019. For the month, natural gas futures fell about 4%, their second straight monthly loss. Front-month gas futures for February delivery on the New York Mercantile Exchange were up 0.3 cent, or [Read more]

Oil prices edged lower on the final day of the year on Tuesday, but were on track for their biggest annual rise since 2016, supported by a thaw in U.S.-China trade dispute and ongoing supply cuts. West Texas Intermediate (WTI) crude futures sank 89 cents to $60.76 a barrel. Brent crude futures were at $65.74 a barrel, down 88 cents, or 1.35%. The international benchmark has risen around 27% in 2019. Brent has gained about 24% in 2019 and WTI has risen roughly 36% for the year. Both [Read more]

EDMONTON - In 2019, Alberta Premier Jason Kenney made good on his promise to take a blowtorch to core policies enacted by the former NDP government. In 2020, the goal of the United Conservative Party leader will be to get traction on his signature promises to bring in more jobs, boost the economy, get more pipelines going and balance the books in three years. He'll need to do it as Albertans grapple with higher costs for tuition, school and municipal fees flowing from Kenney's [Read more]

U.S. exporters of liquefied natural gas (LNG) head into 2020 after a record year that saw exports soar by more than 60%, but growing concerns about weakened demand and heavy competition could act as headwinds in the coming year. Four new liquefaction trains - the common term for a shipping facility - entered service this year in the United States. The U.S. is on track to become the biggest global LNG exporter by 2024. LNG is seen as an alternative for Asian countries that have relied on [Read more]

Oil prices traded at three-month highs on Monday, underpinned by optimism over an expected U.S-China trade deal, while traders kept a close eye on the Middle East following a U.S. air strike. Markets showed little initial reaction to news of the U.S. strikes in Iraq and Syria against an Iran-backed militia group, even as U.S. officials warned "additional actions" may be taken. West Texas Intermediate (WTI) crude futures edged up 5 cents to $61.77 a barrel by 0529 GMT. The U.S. benchmark is [Read more]

Canada’s fleet of active drilling rigs shrank from 153 to 149 since last week according to data from Baker Hughes. Total drilling count was 99 at December 27. 52 rigs were drilling for oil; 47 for natural gas. The drilling activity in Alberta decreased, shrinking from 102 to 64 rigs. Saskatchewan’s drilling declined from 33 to 22 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]

U.S. energy firms reduced the number of operating oil rigs for the first time in three weeks as producers follow through on plans to slash spending on new drilling. Drillers cut 8 oil rigs in the week to Dec. 27, bringing the total count down to 677, the lowest since the week to Nov. 15, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 885 active rigs. That put the oil rig count down 208 for the year, its first [Read more]

Oil prices rose on Friday, hitting three-month highs after data showed record online spending by U.S. consumers, stoking faith in the world's no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing. West Texas Intermediate contract was up 13 cents, or 0.2%, at $61.81 a barrel. Brent crude futures were up 13 cents, or 0.2%, at $68.05 a barrel at 0150 GMT A survey on Thursday showed that online holiday purchases by U.S. consumers reached a record, [Read more]