Today’s Market Trend

After falling gently across the board yesterday as traders cashed in their profits and exited the market, markets are trending slightly higher today. Crude prices gave up 17 cents (0.3%) yesterday, but have since recouped those small losses to regain their level above $52. Prices this morning are $52.24, a gain of 34 cents (0.7%). […]

Today’s Market Trend

Oil markets are trading flat this morning after seeing mixed pricing results on Friday. Crude oil fell and rose again on Friday, ending the day just 5 cents above their opening price. Today, crude is extending its steady trade, gaining just 15 cents this morning to reach $51.99. Refined products had a much better day on Friday. Diesel […]

Intensity of U.S. Energy Use in Manufacturing Decreases as Output Outpaces Fuel Use

The energy intensity of U.S. manufacturing has continued to decrease, according to the latest data from EIA’s Manufacturing Energy Consumption Survey (MECS). From 2010 to 2014, manufacturing fuel consumption increased by 4.7%, while real gross output increased by 9.6%—or more than twice that rate—resulting in a 4.4% decrease in energy intensity. Like EIA’s consumption surveys […]

Today’s Market Trend

Markets are slightly higher this morning, responding to a bullish API report in regard to crude. Crude oil remained flat yesterday, closing only 5 cents lower than opening prices. Currently crude prices are $52.09, with a measly 21-cent gain (.4%) since yesterday’s close. Crude has remained strong as prices have not dropped below $50bbl for […]

Today’s Market Trend

After locking in some gains yesterday, crude prices remain higher this morning. Prices gained 44 cents yesterday, closing at $51.87, the highest close since Sept 27 and continuing a three-day streak of gains. Whether today will continue that streak is yet to be seen; prices are stagnating with modest gains, awaiting the API’s inventory report […]

U.S. Crude Oil Production Expected to Increase through End of 2017, Setting Up Record 2018

EIA forecasts that U.S crude oil production will average 9.4 million barrels per day (b/d) in the second half of 2017, 340,000 b/d more than in the first half of 2017. Production in 2018 is expected to average 9.9 million b/d, surpassing the previous high of 9.6 million b/d set in 1970, based on projections […]

Today’s Market Trend

Oil markets are up significantly this morning, propelled by instability in the Middle East. After closing roughly 70 cents higher on Friday, crude prices have continued their gains today and are currently $52.19, a gain of 74 cents (1.4%). This is the highest prices have been since late September, when the Kurds in Northern Iraq voted […]

Today’s Market Trend

After strong gains yesterday, markets are continuing their builds this morning, propelled by expectations of bullish news from the IEA, OPEC, and the EIA. Crude prices finally took back the $50 support level, closing at $50.92, a gain of $1.37 (2.8%). Prices are holding their ground this morning, at $51.01 at the time of writing. […]

Today’s Market Trend

Oil markets are roaring back to life this morning, with oil prices up across the board. Oil prices were flat yesterday, with crude gaining just over a quarter, but prices have received a boost from confidence in OPEC’s talking points on market rebalancing. Prices have pushed above $50/bbl this morning, gaining $.93 (1.9%) since yesterday’s close. Crude prices […]

Predicting the Future? Oil Market Futures Fundamentals

Forward markets have been in a state of backwardation for quite some time, creating strength in prompt month pricing. Backwardation means that prices in the future are lower than prices today; it contrasts with contango, when markets are steadily rising in the future. What Are Oil Futures? For our newer readers, let’s take a quick […]

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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