OPEC+ Meets Today: Here’s What We Know

This morning, oil prices rose over 2% ahead of the awaited OPEC+ meeting scheduled for later today. The expectation is that OPEC+ will continue its slow output increases, even though many world powers are calling for more. Today crude oil opened at $80.18, diesel at $2.4171, and gasoline at $2.3320. While most meetings address multiple […]

The “Mexico Hedge” Is Back – Mexico Locks in 2022 Prices

Although considered a top-secret project, the “Mexico Hedge” seems to be underway. For over a decade, Mexico has hedged its oil production revenue, purchasing options that give them the right to sell at a certain price. Details of the hedge are a state secret to prevent traders from manipulating prices, though the pricing effects are […]

Mid-Week Review – November 3, 2021

Oil down after API data shows U.S. inventory build-up Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply. Brent crude futures were down $2.20, or 2.6%, at […]

$120 Crude by June? Bank of America Raises Forecast AGAIN

After retreating last week, oil prices rebounded yesterday, coming just shy of last week’s multi-year high. This morning, markets are relaxing a bit, though there are still plenty of positive catalysts for prices. Bank of America now expects Brent crude to hit $120 by the end of June, exceeding the forecasts of other major banks. […]

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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