Week in Review – September 6, 2019

The Crude Market was up during this short trading week.  The market took a downward turn on Tuesday following US-China tariff implementation and Hurricane Dorian cutting into demand.  Markets moved higher later in the day on positive news about Brexit and economic data from China. Reports from the API were delayed due to the short […]

Despite Bearish Data, Oil Markets Rise

Oil prices are continuing their ascent this morning following yesterday’s lofty 4.3% gains. Prices are at their highest level in weeks, though it’s worth mentioning that WTI crude prices have not deviated from their $50-$60 band since May. Today, crude prices are currently $56.98, up 72 cents from yesterday’s closing price. Fuel prices are up […]

Tariffs and Dorian Weigh on Oil Prices

After a strong drop in oil prices last Friday, the oil complex remains weak following the long holiday weekend. With Dorian’s track now well away from any Gulf Coast oil wells, there seems to be little risk of a production shut-in. Crude oil this morning is trading at $53.29, down a hefty $1.81 (-3.3%) from […]

Quiet Trading ahead of Holiday

FUELSNews will resume publication on Tuesday, September 3. Happy Labor Day! Oil prices are trading lower this morning after steady gains this week. There’s little news influencing global oil prices ahead of the holiday weekend, though in the US markets are closely watching Hurricane Dorian for demand-dampening impacts and any potential shift towards Gulf of […]

Dorian to Hit Florida, Prices Flat Despite Bullish Data

The EIA’s data released yesterday morning lifted oil prices from its slump earlier this week. In fact, the whole oil complex received a solid boost from the report. Crude oil is trading at $56.16 this morning, up 38 cents. Fuel prices moved higher in their own rights, up 3.5 cents and 4.2 cents for diesel […]

Farmers’ Almanac Calls for “Polar Coaster”

Oil prices have been boosted once again by substantial draws from US crude inventories. The API’s data yesterday afternoon shattered the flat trading of the day, resulting in greater than $1/bbl gains heading into the close. This morning, WTI crude is sustaining that growth, up another $1.37 to trade at $56.30. Fuel prices are also […]

Fed’s Dovish Stance Outweighs Trade War Concerns

Oil prices are once again tip-toeing higher after ending last week with significant losses. Still, price remain bound within the $50-$60 range in which they’ve held steady since May.  Today, prices head back towards the midpoint of that range. WTI crude oil is currently trading at $55.16, up almost a dollar from Friday’s close. Fuel […]

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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