EIA: Uptick in Global Supply Disruptions

Crude close the day Tuesday with some very modest gains on the crude oil side, while fuel prices declined. This morning, oil is getting yet another boost above $57/bbl, but recent history has shown this to be treacherous territory. The API’s report of a surprise crude build may contribute to a more bullish leaning this […]

Mid-Week Review

For China – One Belt, One Road, No Plan On Sept. 7, 2013, in a speech at Nazarbayev University in Astana, Kazakhstan, Chinese President Xi Jinping announced the launch of the One Belt One Road initiative, now widely referred to as the Belt and Road Initiative. This massive connectivity project, Xi said, would revive for […]

US Asks India to Limit Venezuelan Oil Imports

Markets once again peaked near multi-year highs this morning before retreating a bit. Prices have been trapped in a holding pattern between $55-$57 for the past few weeks, with neither the bulls nor the bears able to break through decisively. This afternoon, crude oil is trading at $56.92, gaining 13 cents after yesterday’s 70 cent […]

IEA: US Oil Exports to Surpass Russian Exports by 2024

After a brief dip that saw prices fall nearly $2/bbl on Friday, oil climbed in the late afternoon to close with just small losses. This morning, prices are on the up mend as Saudi Arabia suggests OPEC will not consider changing output quotas at its April meeting. Crude oil is currently trading at $56.50, up […]

Supply and Finances Fight for Oil Price Direction

Oil prices are taking a heavy hit this morning, breaking below the $55/bbl threshold on news that the European Central Bank is keeping interest rates unchanged – a move which strengthens the dollar and signals a weak economic outlook. Crude oil is currently trading at $54.97, down $1.69 (-3.0%) since yesterday. Fuel prices are experiencing […]

Week in Review

Analysis by Alan Apthorp This week has brought another Friday bear, building on the steep declines seen last Friday. Markets have seen large run-ups and falls in recent weeks; markets seem unsure of their next move. Recent days with large losses have been followed by steady gains to offset the sell-off. Driving the up/down/up/down cycle […]

EIA Shows Large Crude Build, Return of Imports

Crude experienced some modest selling pressure yesterday.  Today, however, crude is up trading at $56.71, up 49 cents.  Diesel is flat compared to yesterday, trading at $2.0180.  Gasoline is trading at $1.8032, up 1.4 cents. Markets are looking to Venezuela this morning, where data shows that only 3.2 million barrels of Venezuelan crude oil have […]

Mid-Week Review

Saudi Aramco says electric vehicles won’t heavily impact oil demand The world’s largest energy company says the electrification of vehicles isn’t anywhere near ready to overtake the traditional engine in the transport sector.  The transport industry accounts for more than half of oil demand and last year Morgan Stanley forecast that by 2025 there could […]

Libya Reopens 300 Kbpd Oil Field

After a steep sell-off on Friday, oil prices recovered a significant amount of their losses yesterday. This morning, prices are trading flat after giving up some early morning gains. Crude oil prices are trading at $56.51, just pennies away from yesterday’s close. Fuel prices are mixed this morning. Diesel prices are trading at $2.0049, down […]

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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