Weekly Price Review

by Dr. Nancy Yamaguchi Crude prices were under constant pressure this week, threatening to break through some technical supports that many analysts believe herald a coming crash. Prices on Tuesday were dipping down toward $47/b. This week brought the lowest prices seen since just before the OPEC meeting in November. Currently, the downward movement has […]

Today’s Market Trend

by Dr. Nancy Yamaguchi WTI crude prices are ascending once again, heading toward $49.00/b this morning. WTI opened at $48.79/b today, a drop of $0.22 below yesterday’s opening price. Current prices are $48.95/b, a recovery of $0.20 above yesterday’s close. The oil complex is trending back up this morning. Diesel opened at $1.5046/gallon in today’s […]

Strategic Petroleum Reserve sales expected to start this month

Note: Volumes sold under the Bipartisan Budget Act of 2015 Section 404 are estimates based on an assumption of $50 per barrel. Yesterday the U.S. Department of Energy’s (DOE) Office of Fossil Energy awarded contracts for the first of several sales of crude oil from the Strategic Petroleum Reserve (SPR). A Continuing Resolution enacted in […]

Today’s Market Trend

Analysis by Dr. Nancy Yamaguchi WTI crude prices rallied and are back trading above $53/b. WTI opened at $52.96/b today, up one cent from yesterday’s opening price. Current prices are $53.10/b, $0.35 above yesterday’s close. Product prices have been weaker, partly in response to EIA data showing apparent weekly demand down for all key refined […]

Today’s Market Trend

Analysis by Dr. Nancy Yamaguchi WTI crude prices have re-attained the $53/b mark this morning. WTI opened at $52.86/b today, a drop of $0.47 from yesterday’s opening price. Current prices are $53.12/b, $0.37 above yesterday’s close. The U.S. Dollar Index has fallen by approximately 3% during the first three weeks of January. The Trump Administration […]

Today’s Market Trend

Analysis by Dr. Nancy Yamaguchi WTI crude prices have risen above $53/b this morning. WTI opened at $52.55/b today, a drop of $0.50, or 0.94%, from Friday’s opening price. Last week, WTI closed in the red, dropping from $53.75 at Monday’s opening to $52.37 at Friday’s close. Current prices are $53.20/b, $0.83 above Friday’s close. […]

Average crude oil prices forecast to rise as markets move toward balance

Source: EIA Short-Term Energy Outlook The U.S. Energy Information Administration’s (EIA) January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. Average forecast prices rise to $56/b and […]

Today’s Market Trend

Analysis by Dr. Nancy Yamaguchi WTI crude prices continued to slide yesterday, and prices are having a difficult time clinging to $52/b this morning. WTI opened at $51.83/b today, $1.92/b below yesterday’s opening price, and the lowest opening price since December 16th. Current prices are $52.07/b, $0.11 above yesterday’s close. Product prices also dropped steeply, […]

Today’s Market Trend

Analysis by Dr. Nancy Yamaguchi WTI crude prices fell steeply this morning, and are currently below $53/b. WTI opened at $53.75/b today, two cents above Friday’s opening price. Friday’s market closed at $53.99/b. Prices have fallen steeply since then. Current prices are $52.91/b, $1.08 below Friday’s close. Product prices have dropped, following crude prices. The […]

Crude oil prices increased in 2016, still below 2015 averages

Source: Energy Information Administration. Principal contributor: Matthew French Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the […]

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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