This Isn’t Your Normal Cup of Tea

If you are tired of reading about tensions in the Middle East, then you may enjoy today’s editorial.  Let’s take a different perspective on the news and read what the “tea leaves” maybe indicating this morning. Crack spreads, the value difference from crude pricing and the ultimate pricing of the finished products (gasoline and diesel), […]

Oil shrugs off U.S. crude build

Crude stocks swelled by 5.4 million barrels, surprising analysts who had expected a decrease of 800,000 barrels.  The build was still smaller than the 9 million-barrel build estimated on Tuesday by the American Petroleum Institute.  Distillate stocks were relatively flat and gasoline stocks drew 1.1 million barrels. Oil futures inched up on Wednesday as the […]

Sabotage attack damages two Saudi oil tankers, Iran calls the U.S. a “target”

Early market price action was decidedly higher on Monday following a pair of bullish geopolitical news stories.  Tough rhetoric from Iran has become pretty common place over the last few months as sanctions take a toll on their oil production.  However, over the weekend a senior Iranian Revolutionary Guards commander said that U.S. military forces […]

Oil Trades in Narrow Range on Trade Woes and Tight Supply

Yesterday’s market slowed its descent, though still ending in the red. Crude oil this morning is trading flat, up just 8 cents at $61.78. Unlike crude, fuel prices are trading a bit higher this morning. Diesel prices are $2.0546, up 1.1 cents. Gasoline prices are pushing against the $2/gal level again, trading up 1.7 cents […]

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 […]

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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