ADVFN - Advanced Financial Network.
HOME» NYSE » E » XOM Stock Price » XOM Stock News

Exxon Mobil Share News

 Exxon Mobil Corp. Stock Price
XOM Stock Price
 Exxon Mobil Corp. Stock Chart
XOM Stock Chart
 Exxon Mobil Corp. Stock News
XOM Stock News
 Exxon Mobil Corp. Company Information
XOM Company Information
 Exxon Mobil Corp. Stock Trades
XOM Stock Trades

US GAS: Natural Gas Takes Breather Ahead of Storage Report

-- Futures pause ahead of inventory report -- Analysts see EIA reporting 32 billion cubic feet injection -- Futures jump 29% from 10-1/2-year low in April (Adds next-day prices in 10th paragraph.) By Dan Strumpf Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Natural gas futures paused Thursday ahead of a closely watched survey of U.S. gas inventories, already at their highest level ever for this time of year. Natural gas for June delivery recently fell 1 cent, or 0.4%, to $2.455 a million British thermal units on the New York Mercantile Exchange. Futures were little changed as traders awaited the 10:30 a.m. EDT data from the Energy Information Administration. Analysts surveyed by Dow Jones Newswires are calling for a smaller-than-average inventory increase of 32 billion cubic feet during the week ended May 4. Relatively modest additions to U.S. gas inventories in recent weeks--combined with long-awaited production cuts and increased demand from power plants--have helped spur a sharp rally in natural gas over the last month. Prompt-month futures have surged 29% off the 10-1/2-year low of $1.907/MMBtu reached April 19. But the rally has left some traders wondering if prices have risen too quickly. Despite recent cuts, production remains near record highs and inventories are well above normal levels. "We've seen the recent run, but I think it's going to be short lived," said Tariq Zahir, head trader at the commodities fund Tyche Capital, adding that any additional production cuts would help send futures higher still. Chesapeake Energy Corp. (CHK), Devon Energy (DVN), Exxon Mobil (XOM) and others have announced output reductions in recent weeks, helping to shore up prices. Still, the cuts have done little to address the massive inventory overhang that has left some traders and analysts worried that natural gas stockpiles could reach capacity later this year. If the inventory build comes in as expected, U.S. gas stockpiles will stand at 2.608 trillion cubic feet, a record high for this time of year, 45% above the five-year average and 44% above last year's level for the same week. Natural gas for next-day delivery at the benchmark Henry Hub in Louisiana recently traded at $2.36/MMBtu, according to IntercontinentalExchange, compared with Wednesday's average of $2.3602 /MMBtu. Natural gas for next-day delivery at Transcontinental Zone 6 in New York traded at $2.45/MMBtu, down from $2.4560/MMBtu. -By Dan Strumpf, Dow Jones Newswires; 212-416-2818; dan.strumpf@dowjones.com.

Stock News for Exxon Mobil (XOM)
DateTimeHeadline
10/14/201406:19:38Statoil, Exxon Find Gas Offshore Tanzania
10/10/201402:54:35Tullow Oil: Gabon Well has Encountered Hydrocarbons
10/09/201418:00:16Correction On Exxon Mobil, Venezuela Stories
09/22/201414:52:47Total Looks to China to Finance Russian Gas Project -- 3rd Update
09/22/201410:53:27Total Looks to China to Finance Russian Gas Project -- 2nd Update
09/19/201409:43:22U.S. Hot Stocks: Hot Stocks to Watch
09/12/201415:22:48U.S., EU Widen Sanctions on Russia
09/12/201415:18:34U.S. Expands Sanctions to Giant Russian Energy Projects
09/12/201406:58:21EU Widens Sanctions on Russia
09/12/201406:57:25EU Widens Sanctions on Russian Companies, Individuals Over Ukraine...
09/10/201418:41:02U.S Readies New Energy Sanctions on Russia -- Update
09/10/201416:55:14U.S, EU Ready New Energy Sanctions on Russia -- Update
09/10/201416:40:10U.S, EU Ready New Energy Sanctions on Russia
09/04/201411:20:09Tanzania Looks to Review Gas Mining Sector Agreements
08/26/201418:57:45ExxonMobil Pipeline Co. to Pay $1.4 Million to Settle Alleged...
08/26/201418:57:07ExxonMobil Pipeline Co. to Pay $1.4 Million to Settle Alleged...
08/22/201409:30:09Russia's Rosneft to Acquire 30% of N.Y.-Listed Oil Driller
08/18/201421:20:11Australia's Oil Search First-Half Profit Rises
08/13/201422:01:44Pemex Has Talked With Firms About Working on Projects
08/06/201418:55:33CST Brands to Acquire General Partner of Lehigh Gas Partners

Exxon Mobil and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad