US-China Trade Weighs on Prices

Prices rose roughly 1% yesterday following constructive data from the EIA. This afternoon, however, prices are heading lower once more, burdened by US-China trade consternation. Crude oil is currently trading at $61.64, down 48 cents. Fuel prices are also printing in the red this afternoon. Diesel prices are trading at $2.0428, a loss of 1.3 […]

Iran Threatens Nuclear Program if Sanctions Continue

Oil saw continued losses yesterday after hefty gains on Monday, keeping crude roughly flat for the week. Crude oil is trading up this morning at $61.62, a gain of 22 cents. Fuel is mixed but relatively flat this morning.  Diesel is trading at $2.0435, a fractional gain of 0.6 cents.  Gasoline is trading at $1.9461 […]

IEA Warns Renewable Growth Must Increase

After opening quite low yesterday, oil prices managed to eke out moderate gains for the day, though this morning prices are printing in the red once again. Commitments from Saudi Aramco to boost production are weighing heavily on markets. Crude oil is currently trading at $61.55, down 70 cents (-1.1%) from Monday’s close. Fuel prices […]

Trump Tweet Sinks Trade Deal Hopes

Prices saw a strong dip in prices overnight, sinking as low as $60/bbl before rebounding again, though crude still has yet to rise to Friday’s closing level. Today crude oil is trading at $61.85, down 9 cents from Friday’s close. Fuel prices saw a similar overnight drop, though gasoline’s rally was far more muted than […]

Quiet Friday following Yesterday’s Selloff

Yesterday brought a steep sell-off in oil markets, with crude down almost $2/bbl from the previous day. The catalyst seems to be more technical than fundamental; while the EIA’s report was certainly bearish, it didn’t necessarily suggest any step-change from recent overall bullish trends. This morning crude oil is pausing from its decline, trading up […]

Week in Review

As of Friday’s open, the crude market is down for the week.  The week opened with a continuation of the previous week’s closing weakness.  The markets were relatively flat through mid-week as markets continued to weigh the effects of sanctions on Iran and Venezualen turbulence versus OPEC+’s ability and desire to make sure the markets […]

Oil Companies Fight for Permian Control

Oil markets sustained moderate gains yesterday thanks to OPEC reports of continued cuts, and this morning they’re trading roughly flat. Crude oil is currently trading at $63.89, unchanged from yesterday’s close. Fuel prices are trading slightly higher on a supportive API report. Diesel prices are currently trading at $2.0888, up 1.1 cents from yesterday’s close. […]

Iran Sanctions Complications Continue Oil Rally

Oil prices are turning higher this morning thanks to supportive news from OPEC, following yesterday’s moderate gains. Crude oil is currently trading at $63.89, up a meager 39 cents (0.6%). Fuel prices are trending higher as well, with gains outpacing crude thanks to uncertainty regarding European refineries reliant on a contaminated pipeline from Russia that […]

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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