Senate Passes USMCA, EIA Forecasts Rising Prices in H2 2020

This week has been focused heavily on trade, with the US and China signing Phase One of a trade deal on Wednesday and the US Senate passing the US-Mexico-Canada Agreement (USMCA) yesterday. We’ve reported on the USMCA before when the House ratified the agreement, which was expected to be the largest hurdle for the deal. […]

Week in Review – January 17, 2020

The crude market was relatively flat for the week, a reprieve from the large ups and downs seen over the last few months.  Markets were mainly focused on the signing of the Phase One trade deal between the US and China, though after months of conversations most of the effect had already been priced into […]

Markets Recover from Very Large Product Builds

Crude is recovering from yesterday’s losses with modest gains in early trading Thursday morning.  WTI Crude is trading up this morning at $58.17, a gain of 36 cents. Fuel is mixed but relatively flat in early trading this morning.  Diesel is trading at $1.8667, a loss of 1.1 cents.  Gasoline is trading at $1.6413, a […]

US-China Sign Phase-One Trade Deal

Crude prices are relatively flat this morning.  WTI Crude is trading at $58.22, a loss of one cent. Fuel is flat and mixed in early trading this morning.  Diesel is trading at $1.9066, a loss of 0.4 cents.  Gasoline is trading at $1.6580, a gain of 0.4 cents. President Trump and Chinese Vice Premier Liu […]

Mid-Week Review – January 15, 2020

The Oil and Gas Situation: In the Midst of a Major Global Boom Forty years ago, the conventional wisdom about oil was that we were running out of it and needed to find ways to conserve. Twenty years ago, it was faddish for people in the oil business to talk about the then-assumed fact that […]

China No Longer Labeled Currency Manipulator

Yesterday markets closed lower – extending to five days the streak of losses.  The market appears to have dismissed Middle East tensions in the short term.  However, crude is up in early trading this morning.  Crude is currently trading at $58.66, a gain of 58 cents. Fuel prices are up.  Diesel is trading at $1.9113, […]

Markets Turn to US-China Trade Deal

Friday saw oil markets continue their descent to lower territory, extending the streak of losses to four trading sessions. If this morning’s trading patterns hold, it looks like that streak might extend to five days. Crude oil is currently trading at $58.51, 53 cents (0.9%) below Friday’s close. Fuel prices are trading slightly lower as […]

Markets De-Escalate, OPEC Production Falls

One week after the announcement of Iranian General Soleimani’s death, oil markets are trading below pre-attack levels.  Crude oil prices are back below $60/bbl, diesel prices are below $2.00, and gasoline is below $1.70. Crude oil is currently trading at $59.05, down 51 cents from yesterday’s close. Fuel prices are mixed this morning, with diesel […]

Week in Review – January 10, 2020

The crude market was down for the week.  The major news for the week driving markets was Iran’s retaliation on Wednesday for the US killing Iranian military commander Qassem Soleimani.  Iran’s missile attack targeted equipment at two air bases from which the Soleimani’s attack was launched.   There were no reports of casualties or injuries.  This […]

De-escalation and Inventory News Drive Markets Lower

WTI crude oil prices settled yesterday at the lowest levels since December 12th to close at $59.61, a loss of $3.09 (-4.9%).  WTI Crude is trading sideways this morning at $59.63, a gain of 2 cents. Fuel is mixed but relatively flat in early trading this morning.  Diesel is trading at $1.9479, a loss of […]

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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