Economic Sentiment Improves, Oil Rises

Oil is up slightly this morning on bullish trade news.  WTI Crude is trading at $54.00, a gain of 7 cents from yesterday’s close. Fuel is flat in morning trading.  Diesel is trading at $1.9487, up fractionally.  Gasoline is trading at $1.6276, up half a penny. Positive sentiment from the US and China helped to […]

Week in Review – October 18, 2019

The Crude Market was down for the week, however, we are seeing some gains in morning trading on Friday.  The week started with the hopes of a partial trade deal between the U.S. and China being delayed which brought prices lower.  The markets remained flat through the week as they waited on inventory numbers that […]

Bullish Supply and Trade News Offset by Inventories

Rising crude stocks are putting downward pressure on prices this morning.  WTI Crude is trading at $52.95, a loss of 41 cents. Fuel is down this morning.  Diesel is trading at $1.9296, a loss of 1.3 cents.  Gasoline is trading at $1.6069, a loss of 1.8 cents. On Wednesday, crude prices rose on news from […]

Mid-Week Review – October 16, 2019

Dilemma for Oil Refiners as Surging Ship Costs Kill Margins U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost six times this year’s average.  Click here to read more from Bloomberg. Russia Aims To Ditch The […]

IMF Cuts Global Growth Forecast Again

Prices are flat this morning as the specter of slower economic growth is weighed against potential OPEC cuts.  WTI Crude is trading at $52.87, a gain of 6 cents. Fuel is mixed this morning.  Diesel is trading at $1.9196, a gain of 1 cent.  Gasoline is trading at $1.6081, a loss of 0.6 cents. On […]

Turkey-Kurd Conflict Spooks Market

After a weak opening this morning, oil prices have turned and are moving higher in response to instability in Syria and US-Turkey relations. Falling as low as $52.40 this morning, crude prices regained some ground to trade at $53.21, still 38 cents below yesterday’s closing price. Fuel prices are trading flat as crude markets fluctuate. […]

Partial Trade Deal? Not Yet…

Oil prices are trading lower this morning. Crude oil this morning is trading at $53.45, down $1.25. Fuel prices are also down this morning.  Diesel is trading at $1.9260, down 3.2 cents.  Gasoline is also trading lower at $1.6087, a loss of 3.0 cents. Crude prices are down Monday morning after Friday’s gains.  On Friday, […]

Missile Strikes on Iranian Tanker

Markets closed higher yesterday on news from OPEC regarding production cuts, and this morning headline declaring missile strikes on an Iranian tanker are continuing the gains. Crude oil is currently trading at $54.10, up 55 cents. Fuel prices are also higher this morning, with diesel leading the complex higher. With inventories falling quickly and IMO […]

Week in Review – October 11, 2019

The crude market was up for the week.  The big driver for the week was positive sentiment around US-China trade talks.  Some reports suggest that the Chinese would be willing to accept a partial trade deal with the US – possibly increasing annual purchases of agricultural products in order to secure an interim trade deal […]

US-China Trade Talks Resume

Positive sentiment regarding trade seems to be lifting markets this morning as the US-China trade talks resume.  WTI Crude is trading at $53.23, a gain of 64 cents. Fuel is up in early trading this morning.  The EIA reported larger-than-expected draws in products and positive trade sentiment are helping to lift prices.  Diesel is trading […]

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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