U.S. Crude Production Surges in Q1 2017

The oil price war took a serious toll on U.S. crude production. According to the U.S. Energy Information Administration (EIA,) the shale boom brought seven consecutive years of output growth between 2008 and 2015, with crude production rising from 5000 kbpd in 2008 to 9415 kbpd in 2015. This equated to an average annual growth […]

This article is part of Crude

Today’s Market Trend

WTI crude prices sank below $47.50/b this morning. WTI opened at $48.12/b today, an increase of $0.44, or 0.94%, above Friday’s opening price, but prices ebbed to $47.48/b currently, a drop of $0.49 below Friday’s close. Diesel opened at $1.5028/gallon in today’s session. This was an increase of 1.45 cents, or 0.97%, from yesterday’s opening […]

Today’s Market Trend

WTI crude prices are back above $48/b this morning, though prices are trending back down. Yesterday, prices were mainly in the vicinity of $47.50/b, recovering above $48/b as the session went on. WTI prices opened at $48.15/b today, just one penny below yesterday’s opening. Since then, prices have weakened. WTI prices are $48.06/b currently, still […]

EIA Gasoline and Diesel Retail Prices Update

by Dr. Nancy Yamaguchi The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended March 13th, 2017. Prices for both fuels declined during the week, though the current crude price decline has not yet been fully reflected in retail prices. For the current week ended March […]

U.S. Crude Oil Production Decreased in 2016

by EIA Even with a rising crude oil price throughout most of 2016, total U.S. oil production in 2016 was below its 2015 level. However, monthly production began growing in the fourth quarter of the year after declining over its first three quarters. Total production managed to stay above the five-year average thanks to prior […]

This article is part of Crude

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 […]

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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