Quiet Trading ahead of Holiday

FUELSNews will resume publication on Tuesday, September 3. Happy Labor Day! Oil prices are trading lower this morning after steady gains this week. There’s little news influencing global oil prices ahead of the holiday weekend, though in the US markets are closely watching Hurricane Dorian for demand-dampening impacts and any potential shift towards Gulf of […]

Dorian to Hit Florida, Prices Flat Despite Bullish Data

The EIA’s data released yesterday morning lifted oil prices from its slump earlier this week. In fact, the whole oil complex received a solid boost from the report. Crude oil is trading at $56.16 this morning, up 38 cents. Fuel prices moved higher in their own rights, up 3.5 cents and 4.2 cents for diesel […]

Farmers’ Almanac Calls for “Polar Coaster”

Oil prices have been boosted once again by substantial draws from US crude inventories. The API’s data yesterday afternoon shattered the flat trading of the day, resulting in greater than $1/bbl gains heading into the close. This morning, WTI crude is sustaining that growth, up another $1.37 to trade at $56.30. Fuel prices are also […]

Will the US-China Talks Resume? Or US-Iran Talks?

Oil prices ended yesterday with some fairly large losses despite early gains, with crude closing below $54 and diesel falling beneath $1.80 for the first time since early August. This morning, WTI crude is trading at $53.90, up 26 cents. Fuel prices are also moving higher. Diesel prices are currently trading at $1.8008, up 0.8 […]

Fed’s Dovish Stance Outweighs Trade War Concerns

Oil prices are once again tip-toeing higher after ending last week with significant losses. Still, price remain bound within the $50-$60 range in which they’ve held steady since May.  Today, prices head back towards the midpoint of that range. WTI crude oil is currently trading at $55.16, up almost a dollar from Friday’s close. Fuel […]

Week in Review – August 19-23, 2019

For the week, the Crude Market was relatively flat. On Monday, the market was up on the news over the weekend of Yemen’s Houthi rebels drone attack. By mid-week the API reported a -3.5 MMbbls draw which was larger than expected, but the following day the EIA reported a -2.7MMbbls draw which was less than the API […]

EIA Report Triggers Crude Sell-Off, Markets Eye Fed Summit

The EIA’s report failed to drive enthusiasm for markets yesterday, triggering a decline of nearly a dollar for crude oil prices, though fuel prices ended the day higher. This morning, crude is recouping some of the losses, while fuel prices remain higher. WTI crude is currently trading at $56.13, up 45 cents from Wednesday’s close. […]

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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