Price Tumble as Saudis Repair 50% of Outage

Prices plummeted yesterday following favorable news from Saudi Aramco on the production recovery effort. Prices fell back below $60/bbl, bringing it within its normal range again. Crude oil is currently trading at $58.19 this morning, down an addition $1.15. Fuel prices are also lower, though their decline has been less than crude’s. Diesel prices are […]

Continued Speculation over Saudi Attack

Oil prices have moderated a bit – though not a lot – following yesterday’s historic reaction to the attack on Saudi Arabian oil processing plants. Most of the major news was flushed out yesterday – large attack, Iran being blamed, long recovery time – so there isn’t much new action to move on. Yesterday ended […]

Largest Price Spike in Crude History, US “Locked and Loaded”

Oil prices rose by the largest amount in history this weekend after a shocking attack on Saudi Arabian oil production. Across the board, the energy complex is trading significantly higher amid the shocking outage. WTI crude oil is trading at $60.56 after gaining $5.71 (+10.4%) in the wake of the attack. Brent WTI crude, after […]

Oil Reports Bearish, Summer Gasoline Ends

Markets are seeing mixed trends after a slump yesterday. Numerous oil market reports have been released this week, including those from the EIA, OPEC and the IEA, providing insights into upcoming market trends. Crude oil prices are currently trading at $54.95, down 14 cents from Thursday’s close. Fuel prices are trading sideways after some moderate […]

Week in Review – September 13, 2019

The Crude Market was down for the week.  The market started higher on Monday as a continuation of last week’s easing trade tensions between China and the US.  Over the weekend, news of a new Saudi energy minister, Prince Abdulaziz bin Salman, could have rocked markets but did not as he reassured markets that no […]

Trump Eases Iran Approach

Oil markets fell yesterday following news of a possible softening stance with Iran. WTI Crude is trading at $54.67, a loss of $1.08. Fuel is down, following crude lower.  Diesel is trading at $1.8631, down 4 cents.  Gasoline is trading lower at $1.5319, down 3.8 cents. The crude market was up in early trading yesterday […]

Mid-Week Review – September 11, 2019

Bullish Sentiment Is Back In Oil Markets On Sunday King Salman appointed his son Abdulaziz the new energy minister of the country, ousting Khalid al-Falih, who had led the Saudi energy ministry since 2016. While the move could have caused anxiety in trading circles, pressuring prices, assurances that Abdulaziz bin Salman would stay on the […]

Markets Expecting OPEC Cut Continuation

Oil prices have risen to their highest level since late July, drawing support from Saudi Arabia’s new energy minister committing to maintain cuts along with reduced risks of a no-deal Brexit. Crude oil is currently trading at $58.30, up 45 cents from yesterday’s close. Fuel prices are trading higher as well, with diesel prices rising […]

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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