US Tells Iran Oil Importers to Stop Purchases

After waiting some time for clarity on Iran sanctions waivers, the White House has provided some clarity, which is causing oil prices to move rapidly higher this morning. Crude oil is currently trading at an annual high of $65.51, up $1.51 (+2.4%) from Friday’s close. Fuel prices are also moving quickly, with large gains for […]

Supportive EIA Data Can’t Stop Lower Prices

FUELSNews will resume production on Monday, April 22. Markets were less than impressed with yesterday’s EIA report despite across-the-board draws for crude, diesel, and gasoline stocks. Crude oil fell back down to the $63/bbl range, with diesel prices following. Yesterday’s losses were less related to the EIA’s report, though, and more tied to equity markets. […]

Russia Considers Production Hike

Though prices made another run at closing above $64 on Friday, momentum weakened later in the day, leading to a close just under that level. This morning crude remained under pressure, facing resistance as it seeks to push new highs. WTI crude is currently trading at $63.16, down 73 cents. Weakening crude prices are spilling […]

OPEC Hesitant to Increase Output

Markets retreated a bit yesterday, but this morning are on track to recapture their gains and close the week strong.  A weaker dollar is providing some support along with on-going political and geopolitical uncertainty. Crude is currently trading at $64.16, up 58 cents. Fuel prices are receiving a lift as well. Diesel prices are trading […]

Gearing Up for a Tariff-ic Summer

After pushing new annual highs yesterday, oil prices are cooling off some as traders pocket their profits and exit the market. Crude oil is currently trading at $64.05, down 56 cents from yesterday’s close. Fuel prices are also moving lower. Diesel prices are trading at $2.0741, down 1.4 cents. Gasoline is experiencing even faster losses, […]

New Market Reports Paint a Bullish Picture

Oil is moving higher this morning amid a generally bullish API report and OPEC’s most recent monthly oil report. Crude oil is currently trading at $64.41, up 43 cents. Fuel prices are also on the rise, supported by steep product draws. Gasoline prices are currently $2.0338, up 3.5 cents to the highest level since October […]

Mid-Week Review

Oil slips from 5-month highs as Russia casts doubt on further output cuts Oil prices hit fresh five-month highs on Tuesday, supported by concern that violence in Libya could further tighten supply, although Russian comments signaling willingness to pump more dampened the rally. Supply curbs led by OPEC have underpinned a more than 30 percent […]

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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