Lower Prices, Stronger Dollar as Traders Flock to Safety

Oil prices are trading lower this morning. Markets continue shrinking back, extending last week’s losses amid continued diplomacy in the Middle East. Crude oil this morning is trading at $55.17, down 74 cents. Fuel prices are down this morning.  Diesel is trading at $1.9224, down 1.9 cents.  Gasoline is also trading lower at $1.6338, a […]

Saudis Ceasefire with Yemen, Winter Approaches Rockies

Markets are flat this morning following a partial ceasefire between Saudi Arabia and Yemen, a huge step following the attacks just two weeks ago. Crude markets continue a week-long downward trek. WTI crude is currently trading at $56.33, down 8 cents from Thursday’s close. Fuel prices are flat to close the week. Diesel is trading […]

Week in Review – September 27, 2019

The Crude Market was down for the week.  The week started as a continuation of last week with the markets continuing to weigh the outcomes form the attack on Saudi oil infrastructure.  Despite international consensus that Iran was behind the attacks, it became clear that direct military action against Iran was unlikely.  As the week […]

Saudi Arabia on Track for Fast Recovery

News of Saudi production coming back on line and inventory builds drove markets lower yesterday and today.  WTI Crude is trading at $56.05, a loss of 44 cents. Fuel is flat this morning.  Diesel is trading at $1.9477, a loss of 0.6 cents.  Gasoline is trading at $1.6310, a gain of 0.6 cents. Crude prices […]

Trump Decreases Trade Optimism

Trump’s rhetoric in the trade war with China drove markets lower yesterday and today.  WTI Crude is trading at $56.40, a loss of 89 cents. Fuel is also trading lower this morning.  Diesel is trading at $1.9445, a loss of 2.3 cents.  Gasoline is also lower this morning, trading at $1.6265, a loss of 2.9 […]

Mid-Week Review – September 25, 2019

Oil Drops on Signs of Returning Saudi Supply as Doubts Linger Oil fell on signs Saudi Arabia is making progress in restoring output even as uncertainty remains about the kingdom’s ability to bring back all lost supply by the end of the month. Saudi Aramco is returning most of its domestic oil refineries to full […]

What to Watch in Crude Inventories

Oil has traded within a $58-$59 range for a week now following the Saudi attacks last week. While that’s on the high end of 2019’s $50-$60 range, there has not been a marked break above the range, highlighting how flexible markets have become over the last few years as American oil has dominated the global […]

Saudi Attack Continues Dominating Headlines

Oil prices are generally flat following small losses last Friday, as markets continue cooling from Saudi-related news. Crude oil is currently trading at $57.98, hardly changed from Friday’s close. Fuel prices are seeing mixed results, decoupled from crude’s sideways trade. Diesel prices are trading at $1.9939, moderately above Friday’s close with 0.8 cent gains. Gasoline […]

While Saudis Restart, US Gulf Refiners Shut Down

Markets are still uncertain about the implications of the attack on Saudi Arabia. As the country continues restarting its crude and refined product processing capabilities, much remains offline. The country announced that one refinery’s 300 kbpd output would be shut for maintenance earlier than planned, bringing total offline refining capacity to 950 kbpd. This morning […]

Week in Review – September 20, 2019

Beginning the week with astronomic gains, crude markets ended the week well below their Monday highs. The big news of the week was the attack on Saudi oil infrastructure over the weekend which caused the market to jump nearly 20% at once.  The news that half of Saudi oil output and nearly 5% of global […]

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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