Venezuela, OPEC Import Decline Lifts WTI above $55

After flirting with the $55/bbl threshold yesterday, oil prices ended slightly lower, but still locking in nearly a dollar in gains. This morning, crude prices continue rising, trading at $55.17 after picking up 94 cents. Fuel prices are also trending higher. Diesel popped above $1.90 this morning, currently trading at $1.9215 after picking up 2.3 […]

Natural Gas News – January 31, 2019

Natural Gas News – January 31, 2019 U.S. Natural Gas Demand to Hit Record High During Freeze Reuters reported: U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arcticlike freeze blankets the eastern half of the country, according to energy analysts. Harsh winds brought record-low temperatures […]

Venezuela Sanctions to Cut Crude Imports 500 KBPD

Oil is trading sharply higher this morning after the EIA reported a decidedly bullish inventory change this morning. Prices climbed $1.30 yesterday, and appear on track for gains of a dollar or more this morning. Crude oil is currently trading at 54.73, up $1.42 from yesterday and at the highest level since mid-November. Fuel prices […]

Mid-Week Review

Saudis Pledge Deeper Oil Cuts in February Under OPEC+ Deal Saudi Arabia expects to reduce oil output once again in February and pump for six months at levels “well below” the production limit it accepted under OPEC’s oil-cuts accord, Energy Minister Khalid Al-Falih said.  The Organization of Petroleum Exporting Countries and allies including Russia, a […]

Natural Gas News – January 30, 2019

Natural Gas News – January 30, 2019 Ukrainian Natural Gas Exported to Europe for First Time in Fifteen Years Kyiv Post reported: Ukraine has restarted exports of its own natural gas to Europe after fifteen years, exporting a relatively small amount to Slovakia, seemingly to demonstrate to the Ukrainian gas sector how easily it can […]

Trump Imposes Sanctions on Venezuela

Oil prices are getting a boost this morning following Trump’s announcement yesterday of sanctions on Venezuela. Markets have almost completely recouped yesterday’s losses. Crude this morning is trading at $53.59, up $1.60 from yesterday’s close. Fuel prices are also making large strides, though not quite back to where they began the week. Both gasoline and […]

Natural Gas News – January 29, 2019

Natural Gas News – January 29, 2019 State Joins U.S. Shift Toward Natural Gas, Renewable Energies Arkansas Democrat Gazette reported: The growth of renewable energy and natural gas generation will continue through at least 2050, a federal agency has projected. The U.S. Energy Information Administration issued its 2019 Annual Energy Outlook on Thursday, projecting that […]

Baby, It’s Cold Outside

With the government finally back up and running (at least until Feb 15), you’d expect prices to rebound – but you’d be wrong. Further negative data from China is weighing heavily on markets this morning. Crude oil is trading at $51.58, down $2.11 (-3.9%) from Friday’s close. Fuel prices are both seeing roughly 5-cent losses […]

EIA Releases Annual Outlook, Shows US Energy Exports Rising

Crude picked up some sizable gains yesterday amid what appeared on first-face to be a bearish EIA report. Prices once again surpassed $53 at yesterday’s close, though remain some distance from last week’s strong Friday close of $53.80. This morning crude prices are trading at $53.54, up 41 cents from Thursday’s close. Fuel 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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