Mid-Week Review – November 27, 2019

Oil Drillers Continue to Remove Rigs from Permian Basin In its weekly release, Baker Hughes Company BKR reported a drop in U.S. rig count. Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry.  Click here to read […]

Traveling for the Holidays?

Happy Thanksgiving! Markets will be closed tomorrow in observation of the holiday. FUELSNews production will resume on Monday, December 2. It’s a quiet trading day heading into the holiday weekend. Trump’s announcement yesterday that a trade deal is close was counteracted by weak inventory data. The oil complex is trading flat for the day as […]

Canadian Railway Strike May Impact Gulf Coast

Crude is up on recent positive trade sentiment. Crude is currently trading at $55.40, a gain of 39 cents. Fuel prices are up in line with crude.  Diesel is trading at $1.9583, a gain of 1.4 cents.  Gasoline is trading at $1.6887, a gain of 1.4 cents. A strike at Canada’s largest rail carrier entered […]

Canadian Oil Can’t Catch a Break

Characteristic of a holiday week, oil markets are seeing weakness on light volume trading. Early morning losses are subsiding, leading prices to trade in line with Friday’s close. This morning, crude oil is trading at $57.73, hardly changed from Friday. Fuel prices are mixed this morning, with diesel finding some room for upward gains. Diesel […]

Markets Leap Despite IMO 2020 Fears Subsiding

Oil prices were brought to a crescendo yesterday, leading to the highest closing price for crude oil since September. That said, prices remain within the trading range we’ve seen for most of the year, between $50-$60/bbl. Crude oil this morning is trading at $58.63, up a nickel from yesterday’s 2-month high. Fuel prices also got […]

Week in Review – November 22, 2019

The crude market was up for the week.  The market was down to start the week as it dealt with pessimistic trade news.  In addition, Russia had announced it was against deeper supply cuts.  The oil complex seemed to ignore any bearish news to end the week and it surged higher on even the slightest […]

Oil Complex Ignoring Bearish News

While there was a build in crude stocks reported by the EIA, there was a sizable draw at Cushing which seems to be lifting prices this morning.  WTI Crude is trading at $57.43, a gain of 42 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9082, a gain of 1.6 […]

Russia Against Deeper Supply Cuts

While there was a larger-than-expected build in crude stocks reported by the API, there was a draw at Cushing which seems to be putting upward pressure on prices this morning.  WTI Crude is trading at $55.66, a gain of 45 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.8743, a […]

Mid-Week Review – November 20, 2019

U.S. oil futures mark lowest finish so far this month Oil futures fell on Tuesday, with U.S. prices settling at their lowest so far this month. A report from Reuters said Russia would likely commit to extend an existing pact to curb output at the early December meeting of the Organization of the Petroleum Exporting […]

US Deemed a Net Oil Exporter

Crude is down on negative trade sentiment. Crude prices continue to be lower this morning following negative sentiment out of China surrounding Trump’s comment that there was no agreement on phasing out tariffs.  A Chinese government source was quoted by CNBC as saying there was “gloom” in Beijing about prospects for a trade compromise.  Crude […]

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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