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 Is Higher, Then Lower After Inventory Data

--Futures turn lower following EIA inventory report --EIA: inventories climb 30 bcf, smaller than expected --Prices reverse course after initial jump By Dan Strumpf Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Natural-gas futures traded lower Thursday in the wake of a closely watched report on weekly U.S. inventory levels. Natural gas for June delivery initially jumped following the report's release, then abruptly reversed course. Recently, the contract traded 3.2 cents, or 1.2%, lower at $2.433 per million British thermal units on the New York Mercantile Exchange. U.S. natural-gas inventories rose 30 billion cubic feet last week, according to the Energy Information Administration. The injection was smaller than the 32-bcf build expected by analysts surveyed by Dow Jones Newswires. Futures initially shot as high as $2.498 in the minutes after the 10:30 a.m. EDT report, then turned abruptly lower. John Woods, an independent natural-gas trader on the Nymex floor, attributed the reversal to strong technical resistance around the $2.525 mark. "This is the upper end of our range right here," he said, though he added that he doesn't expect prices to fall below $2 anytime soon. "You'll probably trade into the mid-teens," he said. The storage injection was smaller than usual for this time of year, which analysts have attributed to increased demand from power generators, opting to use natural gas in lieu of more expensive coal. Still, overall inventories remain well above average levels after the mild winter squelched demand for natural gas used for heating. Stockpiles are 44.2% above last year's level and 44.5% above the five-year-average for this time of year. 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 to spur a sharp rally in natural gas over the last month. In recent weeks, Chesapeake Energy Corp. (CHK), Devon Energy Corp. (DVN), Exxon Mobil Corp. (XOM) and others have disclosed output reductions, helping to shore up prices. 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 commodities fund Tyche Capital, adding that any additional production cuts would help to send futures higher still. -By Dan Strumpf, Dow Jones Newswires; 212-416-2818; [email protected]

Stock News for Exxon Mobil (XOM)
DateTimeHeadline
01/20/201716:35:00NOTICE TO EXXON MOBIL CURRENT AND FORMER EMPLOYEES: ERISA Lead...
01/19/201718:22:00Santos 4Q Revenue Lifted by Rise in Sales Volumes
01/19/201712:14:00MARKET SNAPSHOT: Dow Under Pressure For Fifth Straight Session
01/19/201712:00:00MARKET SNAPSHOT: Dow Under Pressure For Fifth Straight Session
01/19/201711:35:00MARKET SNAPSHOT: Dow Under Pressure For Fifth Straight Session
01/19/201711:34:00MARKET SNAPSHOT: Dow On Track For Fifth Drop; Treasury Secretary...
01/19/201710:16:00MARKET SNAPSHOT: Dow Struggles To End 4-session Skid On Upbeat...
01/19/201707:11:00Sabic Profit Lifted by Falling Costs -- Update
01/18/201709:00:00Synthetic Genomics and ExxonMobil Renew Algae Biofuels Research...
01/18/201703:03:00Exxon Joins Land Rush In Red-Hot Southwest -- WSJ
01/17/201717:52:00Exxon Mobil Expands Permian Basin Footprint -- 2nd Update
01/17/201716:38:36Current Report Filing (8-k)
01/17/201711:40:00Exxon Mobil Expands Permian Basin Footprint -- Update
01/17/201710:17:00Exxon Mobil to Buy Permian Basin Land From Bass Family for More...
01/17/201709:00:00ExxonMobil to Acquire Companies Doubling Permian Basin Resource...
01/16/201709:00:00InterOil Files Management Information Circular for Proposed Transaction...
01/13/201718:49:00Marco Rubio's Vote Is Key for Secretary of State Nominee
01/13/201717:44:00Zamansky LLC Appointed Lead Counsel in ERISA Lawsuit for all...
01/13/201704:56:00PetroVietnam, Exxon Mobil Sign Agreement to Continue Joint Gas...
01/12/201708:30:00ExxonMobil Announces New Oil Discoveries Offshore Guyana

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US