Mid-Week Review – November 17, 2021

President Biden Faces Few Options To Lower Oil Prices Without OPEC President Biden has limited options to counter OPEC-plus ignoring White House pleas to produce more oil and soften the price rally. Some strategies, like releasing oil from strategic reserves, could even backfire and further lift prices. The administration says all options are on the […]

Climate Talks End, COVID Increases Across Europe

This morning, oil prices decreased on new expectations of increasing energy supplies, as natural gas and coal producers respond to rising energy prices the winter. With the UN ending their climate talks in Scotland and COVID-19 cases rising around the country, the market is shaken up. WTI crude fell over $0.96, or just over 1%. […]

Mid-Week Review – November 10, 2021

Oil prices slip ahead of U.S. inventory report Oil prices slipped after early gains on Wednesday, though a potential drop in U.S. crude stocks and tighter supplies capped losses. Brent crude futures were at $84.56 a barrel by 1101 GMT, down 22 cents, or 0.3%, after touching a session high of $85.50. U.S. West Texas […]

How A Strategic Reserve Release Affects Prices

This morning, oil prices rose nearing $84 a barrel in response to the United States lifting some travel restrictions as the economy continues to recover, all while supply remains tight. Today crude oil opened at $82.16, diesel at $2.4740, and gasoline at $2.3295. As reported yesterday, the White House continues to monitor the situation with […]

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 […]

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 […]

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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