Today’s Market Trend

Yesterday’s trading session saw mixed results after the EIA reported the 8th consecutive stock draw from crude oil, and stock builds for both products. Crude gained 30 cents from its opening price to settle at a three year high of $63.80. Today, crude prices are trending lower, with prices currently at $63.24, a loss of […]

Today’s Market Trend

Markets remained mostly flat during yesterday’s trading session following an EIA report that showed minimal draws compared to the large draws estimated by the API report. Despite the rather disappointing inventory report, crude kept its strength throughout the day and closed 16 cents higher than its opening price. This gain can be partly contributed to […]

EIA Forecasts Mostly Flat Crude Oil Prices and Increasing Production in 2018 and 2019

The price of Brent crude oil averaged $54/barrel (b) in 2017, an increase of $10/b from 2016. EIA’s January Short-Term Energy Outlook forecasts Brent to average $60/b in 2018 and $61/b in 2019. In both 2018 and 2019, EIA expects total global production to be slightly greater than global consumption, with U.S. production increasing faster than production […]

Today’s Market Trend

Markets continued their bullish run yesterday with gains exceeding $1/bbl (1.7%), thanks to a large inventory stock draw reported by the API. The latest push boosted prices above $63, another multi-year high for crude oil, though prices fell slightly below the threshold before closing. Today, prices are continuing to push higher, with prices currently at […]

Today’s Market Trend

After some ups and downs yesterday, crude oil managed to wend its way back to positive territory, with prices ending the day 12 cents higher. Today, prices are pushing their way higher once again, with prices currently surpassing $62/bbl. Over the past week, prices have peaked above $62 a couple times, but higher ground has […]

Today’s Market Trend

After across-the-board losses on Friday, markets are trading relatively flat this morning. After peaking above $62 on Friday morning, crude oil gave up 46 cents (-0.8%), closing the day at $61.44. This morning, prices opened at $61.61, and have remained relatively anchored to that price. Crude prices are currently 22 cents above Friday’s close (and just 5 cents […]

Today’s Market Trend

Oil markets are trading steady this morning after another set of large gains yesterday. Yesterday, the API’s inventory report helped propel crude oil higher by more than $1.20 (2.1%), well surpassing $61/bbl. This morning, markets have found less exuberance, trading flat with just an 8-cent price increase, putting crude prices at $61.71. Refined fuel both […]

Today’s Market Trend

Markets are rising once again, propelled by instability in Iran. After small 17 cent gains yesterday, crude oil is up 52 cents (0.9%) today, trading at $60.89. Refined fuel prices took a hit yesterday, experiencing losses of 0.5% (diesel) and 1.7% (gasoline). Today, markets are reversing their losses. Diesel prices are currently up 2.1 cents […]

Today’s Market Trend

Happy New Year! As some analysts predicted, WTI crude oil prices managed to reign in the New Year with prices that peaked above $60/bbl, and have stayed there since last Friday. Two major trends helped propel oil prices higher: Extremely cold weather in the Northeast have caused natural gas shortages, forcing residential and commercial buildings […]

Today’s Market Trend

The oil complex is experiencing moderate losses this morning after a week of steady gains. Across the board, markets were able to reverse their losses yesterday morning and trend higher, rising enthusiasm following Wednesday’s bullish inventory report. This morning, crude prices are currently trading at $57.99, a loss of 37 cents (0.6%). Refined products tracked crude’s gains, with […]

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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