Mid-Week Review – January 15, 2020

The Oil and Gas Situation: In the Midst of a Major Global Boom Forty years ago, the conventional wisdom about oil was that we were running out of it and needed to find ways to conserve. Twenty years ago, it was faddish for people in the oil business to talk about the then-assumed fact that […]

China No Longer Labeled Currency Manipulator

Yesterday markets closed lower – extending to five days the streak of losses.  The market appears to have dismissed Middle East tensions in the short term.  However, crude is up in early trading this morning.  Crude is currently trading at $58.66, a gain of 58 cents. Fuel prices are up.  Diesel is trading at $1.9113, […]

Markets Turn to US-China Trade Deal

Friday saw oil markets continue their descent to lower territory, extending the streak of losses to four trading sessions. If this morning’s trading patterns hold, it looks like that streak might extend to five days. Crude oil is currently trading at $58.51, 53 cents (0.9%) below Friday’s close. Fuel prices are trading slightly lower as […]

Markets De-Escalate, OPEC Production Falls

One week after the announcement of Iranian General Soleimani’s death, oil markets are trading below pre-attack levels.  Crude oil prices are back below $60/bbl, diesel prices are below $2.00, and gasoline is below $1.70. Crude oil is currently trading at $59.05, down 51 cents from yesterday’s close. Fuel prices are mixed this morning, with diesel […]

Week in Review – January 10, 2020

The crude market was down for the week.  The major news for the week driving markets was Iran’s retaliation on Wednesday for the US killing Iranian military commander Qassem Soleimani.  Iran’s missile attack targeted equipment at two air bases from which the Soleimani’s attack was launched.   There were no reports of casualties or injuries.  This […]

De-escalation and Inventory News Drive Markets Lower

WTI crude oil prices settled yesterday at the lowest levels since December 12th to close at $59.61, a loss of $3.09 (-4.9%).  WTI Crude is trading sideways this morning at $59.63, a gain of 2 cents. Fuel is mixed but relatively flat in early trading this morning.  Diesel is trading at $1.9479, a loss of […]

Iran Airstrikes, a Limited Response

Iran’s limited retaliation and statement against further escalation are pushing markets lower.  WTI Crude is trading at $62.04, a loss of 66 cents. Fuel is down in early trading this morning.  Diesel is trading at $2.0186, a loss of 1.4 cents.  Gasoline is trading at $1.7110, a loss of a 1.1 cents. Crude markets are […]

Mid-Week Review – January 8, 2020

Oil Rally Cools as Iranian Strike Causes No U.S. Casualties Oil’s rally faded as the U.S said Iranian airstrikes on military bases in Iraq didn’t cause any casualties, reinforcing speculation that Tehran is opting for limited retaliation over the killing of a top general. Futures in London initially surged more than 5% as the Islamic […]

Iran Assessing Response to Killing

Crude is down in early trading this morning.  Crude is currently trading at $62.60, a loss of 67 cents. Fuel prices are down.  Diesel is trading at $2.0136, a loss of 2.0 cents.  Gasoline is trading at $1.7232, a loss of 3.1 cents. Yesterday markets rose as the US warned of heightened threats to energy […]

Platts Warns of Diesel Price Gains Amid IMO 2020

We all heard the hype about IMO 2020, and the projected price increases. When January 1 hit, markets watched the market – only to see a minimal impact. While marine fuel prices are definitely up, the effect has not rippled through the market. At least, not yet. In a recent article, S&P Platts warns 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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