Mid-Week Review

How Much Crude Oil Has The World Really Consumed? The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total consumption. That’s nearly 100 million barrels per day.  The top three oil consumers—the United States (20%), China […]

Canada to Maintain Production Cap

Oil continues its creep higher this morning, ending yesterday relatively slightly higher despite moving lower earlier in the day.  Inventory data is the highlight story of the day, along with news from our neighbor to the north. Today crude is trading at $57.01, up 88 cents (1.6%) from yesterday’s close. Fuel prices are up in […]

On little news, crude is giving back some gains

After a modest rally yesterday, crude is giving back some of those gains in early trading today.  Crude is currently trading at $56.05, a loss of 16 cents. Fuel prices are flat.  Diesel is trading at $1.8421, up 0.9 cents.  Gasoline is trading at $1.6658, a gain of 0.1 cents. Crude was up 2% yesterday […]

Yemen Attack on Saudi Oil Field Highlights Middle East Tension

With prices up, down, and all-around last week, it will be interesting to see how things shake out this week. Today oil is trading higher following new geopolitical risk in the Middle East, which highlights the dangerous territory the region has become. Crude oil is currently trading at $55.77, up 90 cents. Fuel prices are […]

Week in Review

For the week, crude prices were up slightly.  The week started up on Monday on news of falling rig counts.  On Tuesday the market spiked over $2 on the news that Trump would delay part of the latest round of tariffs from September to December. However, Wednesday brought back recessionary fears as the yield curve […]

Iranian Tanker Released, US Cracks Down on Sanctions

Markets once again dropped yesterday amidst weakened economic prospects, and today prices are trading relatively flat. Crude prices are currently $54.79, up 32 cents. Fuel prices are also in the green, though with mixed degrees of exuberance. Diesel prices are trading flat at $1.8117. Gasoline prices are leading the market higher, trading up 1.4 cents […]

Late Hurricane Season Will Bring More Activity

In a continuation of yesterday’s losses, oil prices are trading lower this morning.  Crude oil prices are trading at $54.46 this morning, down 77 cents from Wednesday’s close. Fuel prices are also falling today. Diesel prices are currently $1.8173, down 2.6 cents. Gasoline is trading at $1.6425, down 3.3 cents. The EIA report was mostly […]

3 Strong Indicators a Recession is Coming

Oil prices are heading south once again after securing $2/bbl gains yesterday, just another turn of the oil price roller coaster we’ve been through this summer. Crude oil prices are trading at $55.38 this morning, down $1.72 from Tuesday’s close. Fuel prices are also falling today, though not quite as much as crude. Diesel prices […]

Trade War Delayed (Again…)

Oil prices are rocketing higher once again amidst easing tensions between the US and China. Having fallen as far as $50/bbl last week, today crude oil is trading at $57.09, up $2.16 (3.9%) from yesterday’s close. Fuel prices are also putting up some big gains. Diesel prices are currently trading at $1.8678, up 6.2 cents […]

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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