M&A Insights – Oil Major Announces $5B Acquisition

Oil markets seem to be meandering lower this morning on little fresh market news. Following historic lows in April, markets seemed to interpret the lack of news as bullish – anything was better than the detrimental events in the rearview mirror. Now that markets have recovered to more “normal” levels, it’s harder to maintain momentum. […]

IEA Revises Forecast, Increases Demand Projections

Yesterday, crude prices fell from a DOE-induced rally to end the day in the red.  After the DOE released its weekly stats, the market rallied on positive crude inventory trends, only to give back those gains in afternoon trading. Markets are higher this morning on news that the IEA lowered its forecast for global crude […]

Kuwait and UAE Make Additional Cuts

Yesterday, WTI crude started the morning with a rally on news of additional cuts from Saudi Arabia.  As the day progressed a choppy sell-off ensued as fears of a second wave of coronavirus infections began to circulate among traders.  Crude markets are up in early trading this morning as signs of a recovery in demand […]

US Rig Count Hits Record Low

Oil prices are moving quietly higher after posting the second consecutive weekly gain on Friday.  This morning, Saudi Arabia announced plans to unilaterally cut production by an additional 1 MMbpd beyond their committed cuts, which is giving markets some strength. The additional cuts will bring Saudi Arabia’s output to just 7.5 MMbpd, a huge cut […]

Inventory and OPEC News Move Markets

Yesterday, crude prices were down on the close to halt a five-day rally in the markets.  The EIA reported a smaller-than-expected build in crude stocks, which seemed to be outweighed by the much larger-than-expected increase in diesel inventories. The overall build in crude and products together with tight storage capacity at Cushing and around the […]

Five Straight Days of Gains, Doubles Crude Price

On Tuesday, WTI Crude finished higher to close with five straight days of gains and nearly doubling in price to close at $24.56.  The market is giving back some of those gains in early trading this morning as traders teeter between optimism and pessimism based upon bearish API inventory news. Prices have been responding to […]

Oil Up 15% as US Demand Shows Upward Trend

Oil markets are on track to set a multi-month record with a 5-day up streak if current trends hold. With the OPEC+ price war in the rearview mirror, markets are more comfortable bidding up prices despite weak demand. Inventory builds this week are expected to be smaller than recent builds, and demand seems to be […]

Trump to Cut China Out of US Supply Chains

After the first weekly gains in a month, oil markets are still rising despite the latest news on COVID-19. This week, that news is less about health than about politics. Last week, President Trump threatened to impose tariffs on China as punishment for allegedly hiding early information on the COVID-19 threat. This week, the aggressive […]

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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