Mid-Week Review – December 11, 2019

The U.S. Dominates New Oil and Gas Production Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels. Natural gas reserves have surged over 80% to ~430 trillion cubic feet. Already the largest oil and gas producer, the U.S. is set to increase its share of […]

Surprise Build Blunts Small Rally

A surprise build reported by the API seems to be putting downward pressure on crude markets this morning.  WTI Crude is trading at $58.96, a loss of 28 cents. Fuel is down in early trading this morning.  Diesel is trading at $1.9454, a loss of 2.0 cents.  Gasoline is trading at $1.6427, a loss of […]

Markets Unchanged on Little News

Crude is down in early trading this morning.  Crude is currently trading at $58.89, a loss of 13 cents. Fuel prices are relatively flat but mixed.  Diesel is trading at $1.9468, a fractional gain.  Gasoline is trading at $1.6505, a fractional loss. Yesterday, crude traded both sides of unchanged as markets wait for the looming […]

OPEC Cuts Elevate Markets

Oil prices are lower early Monday amid profit taking from last week’s gains. Crude oil is currently trading at $58.41, down 79 cents. Fuel is also down this morning.  Diesel is trading at $1.9278, a loss of 2.4 cents.  Gasoline is also lower, trading at $1.6289, down 1.9 cents. On Friday, crude prices rose following […]

OPEC Steepens Cuts by 500 KBPD

Oil prices ended yesterday at exactly the same level they began on quiet news. This morning, a surprise announcement from OPEC indicates the group will seek to cut oil production by 1.7 MMbpd in Q1 2020, an additional 500 kbpd beyond current production cut levels. Crude markets are reacting with large gains, with crude oil […]

OPEC Meeting, Saudi Threats

OPEC rumors and bullish inventory news are lifting the markets.  WTI Crude is trading at $58.83, a gain of 40 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9373, a gain of 1.4 cents.  Gasoline is trading at $1.6228, a gain of 1.9 cents. On Wednesday, crude prices rose more […]

Markets Move on Inventory News and Hope of Supply Cuts

A larger-than-expected draw reported by the API seems to be putting upward pressure on crude markets this morning.  WTI Crude is trading at $57.15, a gain of $1.05. Fuel is up in early trading this morning.  Diesel is trading at $1.9144, a gain of 3.5 cents.  Gasoline is trading at $1.1.5934, a gain of a […]

Mid-Week Review – December 4, 2019

India Could See Real Growth in Oil Demand Next Year Next year is expected to be a turnaround for oil demand in India, according to a new study by S&P Global Platts Analytics.  With weakened demand caused by an economic slowdown, a slump in new vehicle sales, and flooding during monsoon season, the growth number […]

OPEC Jawboning Sways Markets

Crude is down in early trading this morning.   News of deeper OPEC supply cuts seem to be offset by weak manufacturing data coming from the US.  Crude is currently trading at $55.55, a loss of 41 cents. Fuel prices are down in line with crude.  Diesel is trading at $1.8747, a loss of 1.1 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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