Oil Tanker Attacks Sends Prices Soaring

Markets are rebounding from yesterday’s heavy losses following reports of renewed concerns on Middle East stability. Crude, which fell as low as $50.72 yesterday, ended the day with $2/bbl losses. This morning, crude is trading at $52.21, up $1.07. Fuel prices are also bouncing back this morning. Yesterday saw diesel prices down over 4 cents […]

EIA Forecasts Lower Supply and Demand in 2020

The API threw another wrench in rising oil prices by forecasting another large build for crude oil stocks. Markets quickly reverted lower, dragging down fuel prices as well. Crude oil this morning is trading at $52.16, down $1.11/bbl. Fuel prices are once again pushing against recent lows. Diesel prices are currently trading at $1.8074, down […]

All Eyes on Russia

Markets are flat this morning after rising $1.40 on Friday, thanks to statements from Saudi Arabia that the OPEC+ deal will likely be extended.  After briefly popping above $10/bbl on Mexico tariff threats, Brent-WTI spreads have cooled off to below $9/bbl, a sign that WTI’s prospects for the future have normalized relative to Brent. WTI […]

Oil Rebounds on Positive US-Mexico Progress

As is common after a series of down days, markets are rebounding this morning amid short covering as well as positive trade news. After trading as low as $50/bbl, crude oil is currently trading at $53.46, up 87 cents since last night. Fuel prices are also getting a lift this morning. Diesel prices are trading […]

Today’s Market Trends

Markets are continuing to reel from yesterday’s EIA report, though the losses have slowed somewhat. Brent briefly sank below $60 yesterday before rebounding. WTI Crude is currently trading at $51.53, down 15 cents after falling $1.80/bbl on Wednesday. Fuel prices are mixed this morning. Diesel continues to face pressure following the large reported build, trading […]

Stock Up on Avocados – Mexico Tariffs Announced by Trump

Oil is plummeting once again, with both gasoline and diesel trading below $1.90. The recent dip in prices has sent many fuel consumers rushing to lock in fixed forward prices, given volatility and uncertainty regarding whether prices will rise or fall. This morning crude is trading at $55.23, down $1.36 (-2.4%) to its lowest level […]

Saudi Calls Emergency Summits on Drone Strikes

An early afternoon rally yesterday helped to significantly narrow losses, rising from a daily low of $56.88 to a closing price of $58.81. Today, the late EIA report is sending prices lower once again. WTI crude is currently trading at $57.45, down $1.36. Fuel prices are also dipping lower after an afternoon rally yesterday. Diesel […]

China Escalates Trade War with Rare Earth Exports

Markets are trading sharply lower once again amid a broader financial market sell-off. The Dow Jones Industrial Average over 200 points this morning. Crude is back at its lowest point since March. WTI Crude is trading at $57.60 this morning, down $1.54 from yesterday’s close. Fuel prices are also significantly lower. Diesel prices are trading […]

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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