Hitting Where It Hurts – Saudis to Cut Exports to US

Yesterday brought oil prices back above $52, but given the recent $50-$53 holding pattern for WTI, markets aren’t expecting any breakouts this go-round. Although prices have shown little desire to breach the $50/bbl floor, they seem almost as hesitant to mount a significant rally. This morning crude is trading at $51.54, a drop of $1.04 […]

Week in Review

This week was largely uneventful for prices – while more details were provided on OPEC’s 2019 supply cuts, “new news” was lacking. Oil remained locked in the $51-52 range, while fuel prices hovered within 5-cent ranges. Although the week lacked any fundamental changes, it did bring three separate reports from major energy agencies – the […]

Natural Gas News – December 13, 2018

Natural Gas News – December 13, 2018 Exxon Mobil makes final investment decision to develop Australian natural gas project Reuters reported: Exxon Mobil Corp has made a final investment decision to develop the West Barracouta gas field in the Bass Strait to bring new gas supplies to the Australian market, it said in a statement […]

IEA Reports More Bullish View of 2019

Markets are proving once again that any rally will be squashed by concerns about economic growth next year.  After closing above $52 on Friday, crude prices hovered around $51 this week until today. This morning, crude is trading at $50.81, down 34 cents. Fuel prices are mixed this morning, trading inversely to yesterday when diesel […]

Prices Rise Again, API Hints at Tight Supplies

Yesterday brought small price builds across the oil complex, clearing the way for some sizable gains this morning. Crude oil, supported by a large inventory draw reported by the API, is trading at $52.54, up 89 cents (+1.7%) since yesterday’s close. Fuel prices are also on the rise. Diesel prices are $1.8726, up 2.6 cents […]

Natural Gas News – December 12, 2018

Natural Gas News – December 12, 2018 A Natural Gas Pipeline Explosion in British Columbia Spikes Prices in Portland and Raises Questions About Oregon’s Energy Future Willamette Week reported: In October, a natural gas pipeline ruptured outside a British Columbia town called Prince George, sending a fireball skyward. The aftershocks from that blast are still […]

Markets Higher, Awaiting EIA Reports

Markets once again took a hit as global equities sold off and the US Dollar rose – together signaling continued weakness in emerging economies. Although the news has been generally bullish lately (including OPEC cuts, Canadian cuts, and Libyan production outages), markets have struggled to break out from the overall bearishness in financial markets. This […]

Natural Gas News – December 11, 2018

Natural Gas News – December 11, 2018 Michigan Utilities Target Aging Natural Gas Distribution Lines for Upgrades Energy News reported: In Michigan’s two largest cities, 35 miles of natural gas distribution lines were installed before Theodore Roosevelt was president. Thousands of additional miles of these decades-old bare steel and cast iron gas distribution networks are […]

After OPEC Cuts, Markets Uncertain

After OPEC appeased markets on Friday with a 1.2 MMbpd production cut, traders are left questioning whether it will be enough. Today’s losses signal some uncertainty among traders. Crude is currently trading at $51.46, down $1.15 from Friday’s close. Fuel prices are taking a smaller hit this morning, though still remain negative. Diesel prices are […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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