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 […]

Week in Review – September 6, 2019

The Crude Market was up during this short trading week.  The market took a downward turn on Tuesday following US-China tariff implementation and Hurricane Dorian cutting into demand.  Markets moved higher later in the day on positive news about Brexit and economic data from China. Reports from the API were delayed due to the short […]

Mid-Week Review

New Report: Can Renewables Replace Oil? The future is not looking bright for oil, according to a new report that claims the commodity would have to be priced at $10-$20 a barrel to remain competitive as a transport fuel. The new research, from BNP Paribas, says that the economics of renewable energy make it impossible […]

Week in Review – August 19-23, 2019

For the week, the Crude Market was relatively flat. On Monday, the market was up on the news over the weekend of Yemen’s Houthi rebels drone attack. By mid-week the API reported a -3.5 MMbbls draw which was larger than expected, but the following day the EIA reported a -2.7MMbbls draw which was less than the API […]

Mid-Week Review

How Much Crude Oil Has The World Really Consumed? The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total consumption. That’s nearly 100 million barrels per day.  The top three oil consumers—the United States (20%), China […]

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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