This (Busy) Week in Review

Oil markets remain highly volatile, with an early morning price dip giving way to a surge in prices as the market opened at 9:30. Yesterday saw prices fall $1.20, after gaining $1.50 the day before. Oil prices are dancing near the $65/bbl level. Those who were on the sidelines of the oil market recently, expecting […]

Week in Review

Fuel price risk is alive and kicking this week, with prices skyrocketing this week from $62.23 to a high of $65.74 on Thursday, falling back to $64.28 to open this morning. Lately, analysts (including us) have mentioned the correlation between the stock market and crude oil, two markets that are generally more independent. Yesterday’s major […]

The U.S. Dollar and Oil Inventories Decline

Oil prices continued their upward trend yesterday supported by a surprise draw in crude oil reported by the EIA and a falling dollar. Oil prices gained another $1.45 to close the day above $65/bbl for the first time since early February. Crude prices have lost some steam this morning, down by 51 cents to $64.66. […]

Today’s Market Trend

Oil prices moved higher yesterday supported by a constructive API report, geopolitical tension and an OPEC announcement. The OPEC Technical Committee discussed the option to change the method of measurement for target inventory levels from the current 5-year moving average to the lower 7-year moving average, which would likely extend the production cuts. Yesterday, crude […]

Absent Fundamental News, Oil Follows Politics

Markets rose inexplicably on Friday, gaining over $1/bbl in the morning despite no major headlines or announcements to justify the increase. The change was not unusual – when markets trend in a sideway manner, they occasionally jump up or down to test different support levels. Friday’s closing price of $62.24 was the highest closing price […]

Week in Review

The past week has been filled with new analysis on the market, which revealed a mixed bag of future expectations. OPEC released their monthly report, increasing their expectations of non-OPEC supply while slightly increasing demand expectations as well. On the other hand, the International Energy Agency (IEA) raised their demand forecast by 100 kbpd in […]

Today’s Market Trend

The oil complex made small gains Thursday supported by a constructive IEA report. Crude prices gained 24 cents yesterday closing the day at $61.19. This morning, crude remains slightly higher gaining a mere 19 points (.31%) to trade at $61.38 currently. Despite strength in prices this morning, crude is set to end the week lower […]

Today’s Market Trend

After some early week loses, crude prices are trading higher this morning following a volatile day of trading. Prices jumped to a high of $61.97 before falling by $1.70 within an hour during yesterday’s trading session. Tuesday’s early morning rally coincided with the announcement that President Trump intends to replace Rex Tillerson, former Secretary of […]

Made-in-America Crude Will Rise in April

Markets are heading lower this week, after some minor losses yesterday. Daily price changes have grown more volatile recently, with $1+ price changes in four of the last six trading sessions. Today, crude oil is currently trading 35 cents below yesterday’s closing price, at $61.05. Fuel prices are also on the downward trek, though gasoline’s […]

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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