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Energy Names To Trade With Today’s News

Yesterday’s big loser, Civeo (NYSE:CVEO), could see a move higher today after yesterday’s bloodbath but we think that investors are going to have some serious problems putting real money behind companies that provide services to the E until the capital expenditure question for the industry is fully answered. It is hard to make big bets on the future without having all of the facts, but recent moves by companies including Civeo and Seadrill (NYSE:SDRL) to suspend their dividends only add to the confusion of the state of the industry moving forward.

Chart of the Day:Oil prices continue to fall, even after the President gave the green light to further US exports of certain ultra light oil. Traders are watching the $50/barrel level for WTI Crude and we are very close to taking out that level.

Gold: $1,198.10/ounce, down by $2.30/ounceSilver: $16.005/ounce, down by $0.271/ounceOil: $52.68/barrel, down by $1.44/barrelRBOB Gas: $1.4161/gallon, down by $0.0376/gallonNatural Gas: $3.022/MMbtu, down by $0.072/MMbtuCopper: $2.8415/pound, down by $0.0125/poundPlatinum: $1,209.00/ounce, down by $9.10/ounceLower Energy Prices Claim LNG VictimWith energy prices falling worldwide, investors are seeing numerous projects being halted, delayed or axed. It does not matter whether the projects are exploration, production, midstream, or other because as capital expenditures fall across the sector more companies are looking for more ways to conserve capital. Which brings us to the news that Excelerate Energy’s Texan LNG terminal plan was scrapped after not receiving enough support from international buyers to justify the company moving forward.

While falling energy prices will impact others within the industry who are already moving forward with plans to build LNG export terminals, this is ultimately good news for companies such as Cheniere Energy (NYSEMKT:LNG), Dominion Resources (NYSE:D) and Sempra Energy (NYSE:SRE) as it will keep one more export terminal from being built which should help maintain whatever margins the early LNG exporters are able to create.

US Clears Way For Condensate ExportsIn what should be good news for US energy producers, the Obama Administration has removed barriers in place preventing producers from exporting ultra light crude (condensate) and answered many questions companies had regarding what can and cannot be exported under recent measures to weaken the 40 year oil exports ban.

This will most likely be a blow to refiners such as Valero (NYSE:VLO) which will now see rising WTI Crude prices in relation to Brent Crude as well as lower margins on gasoline exports. If the WTI Brent spread tightens, the obvious winners are US producers, namely those companies focused solely on domestic production such as EOG Resources (NYSE:EOG) and Chesapeake Energy (NYSE:CHK).

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