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
02/27/201708:22:00MARKET SNAPSHOT: Dow Posts 11th Straight Record; S&P 500 Sees...
02/24/201716:49:00MARKET SNAPSHOT: Dow Posts 11th Straight Record; S&P 500 Sees...
02/24/201714:31:00MARKET SNAPSHOT: U.S. Stocks Retreat From Record-setting Streak...
02/23/201712:53:54Current Report Filing (8-k)
02/22/201720:22:00Exxon Lowers Proved Reserve Estimates -- Update
02/22/201718:44:00Exxon Lowers Proved Reserve Estimates
02/22/201717:08:00InterOil Announces Completion of ExxonMobil Transaction
02/22/201716:56:21Statement of Changes in Beneficial Ownership (4)
02/22/201716:52:08Annual Report (10-k)
02/22/201716:30:00ExxonMobil Announces 2016 Reserves
02/22/201716:23:41Statement of Changes in Beneficial Ownership (4)
02/21/201711:00:00ExxonMobil Employees Inspire Girls to Pursue Future in Engineering
02/20/201720:00:00Supreme Court of Yukon Approves ExxonMobil Transaction
02/17/201705:59:00Energy Companies Face Crude Reality: Better to Leave It in the...
02/16/201709:00:00ExxonMobil Sets Record in High Performance Oil and Gas Reservoir...
02/16/201702:30:00ExxonMobil Singapore Refinery to Expand Group II Base Stock Production
02/13/201715:59:40Statement of Changes in Beneficial Ownership (4)
02/10/201715:03:08Amended Statement of Ownership (sc 13g/a)
02/10/201709:00:00ExxonMobil Awards License for Efficient Drilling Technology to...
02/07/201705:41:00InterOil Secures US$470 Million Credit Facility

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