WTI $46.23 +$1.57, Brent $47.60 +$2.08, Diff $1.37 +51c, NG $2.17 +2c

Oil price 

A short blog today, it’s fairly quiet and I have back to back meetings with some interesting companies.

The oil price had a serious bounce as the EIA stats provided relief for the bulls who had been worried about Canadian oil reappearing swiftly after the recent fires. A draw of 3.4m barrels took everyone by surprise, not least the analytical community who had been expecting a build post the API numbers. It seems that the Gemscape figures were more accurate although watch out for the next couple of weeks as the Canadian effects trickles through ahead of the Driving season.

Range Resources

Range has announced that it is  slipping in an extra well into the programme by drilling another well off the same pad as the recent MD 250 well to be nominated the MD 51-2. After completion both wells will be tested.

Petroceltic

The party is over at Petroceltic as the Examiner has selected Worldview to take over the company. I will write more tomorrow on this whole shabby affair.

And finally…

It’s all about the Maccams this morning as their victory last night against what was surely the most woeful Toffees team you have seen for years gained them Premiership footy for another year and ensured that the Canaries and the Magpies drop into the Championship.