Oil Falls as Coronavirus Cases Surpass 10 MN

Yesterday, WTI crude finished higher, buoyed by some recovery in energy demand. The market saw positive economic news coming out of China over the weekend, with industrial profits in May up 6% from a year earlier, representing the first increase in 2020. In the US, better than expected housing data helped to lift markets on […]

Energy Survey Shows Gloomy Oil Production Outlook

The oil market is trading moderately higher this morning following declining prices last week. A resurgence of coronavirus cases has spooked the market, but thus far demand has not been weakened by states slowing their reopening approach. In fundamentals news, rig counts continue to set new record lows each week, though Friday’s Baker Hughes Rig […]

Record-High Inventories Will Continue Pressuring Markets

Oil prices are giving up yesterday’s gains following news that Texas will be halting its re-opening approach due to an uptick in COVID-19 cases. With the economy already teetering following months of quarantine, forecasters worry that fuel demand may once again turn lower. But regardless of the day-to-day news, a looming challenge for markets is […]

Week in Review – June 26, 2020

WTI Crude finished the week lower after a choppy ride throughout the week. The week started off higher as Trump clarified that the US-China trade deal is “fully intact,” after earlier negative statements by White House trade advisor Navarro. EIA inventory news mid-week put downward pressure on markets as crude inventories rose. Also mid-week, IMF […]

Natural Gas News – June 25, 2020

Natural Gas News – June 25, 2020 LNG Buyers Seen Rejecting Fewer U.S. Cargoes as Prices Rise Buyers of U.S. liquefied natural gas will probably cancel fewer shipments scheduled for August than they do for July as prices show signs of recovery, according to traders. Cheniere Energy Inc., the nation’s biggest producer of LNG, received […]

IMF Cuts Global and US Forecasts

On Wednesday, WTI Crude fell more than $2 as it followed US equities lower on fears of a resurgence of coronavirus cases.  Swelling crude inventories reported by the EIA and a surge of new COVID-19 cases around the nation have raised concerns about crude demand in the US and abroad, dragging prices lower. The IMF […]

Mixed Inventory News Puts Downward Pressure on Markets

On Tuesday, WTI crude gave back most of Monday’s gains on little headline news and fears of an uptick in coronavirus cases globally. The market is down in early trading this morning on mixed inventory news. The API signaled another build in crude inventories yesterday.  The larger-than-expected rise in oil stocks put downward pressure on […]

Mid-Week Review – June 24, 2020

With contracts canceled and debts mounting, offshore oil drillers face another shakeout The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. Click here to […]

Natural Gas News – June 23, 2020

Nat Gas News June 23, 2020 US natural gas futures steady on rising demand US natural gas futures held steady on Thursday as a continued drop in liquefied natural gas (LNG) exports offset a forecast increase in demand next week. The US Energy Information Administration (EIA), meanwhile, said utilities injected 85 billion cubic feet (bcf) […]

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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