Mid-Week Review – May 5, 2021

Will Oil Hit $80 This Summer? India, the world’s third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured oil prices. OPEC+, out of its own necessity, has intervened in the oil market on the supply side of […]

Mid-Week Review – April 28, 2021

Oil Prices Climb As OPEC+ Holds Firm on Output Cuts The OPEC+ group will not hold a full ministerial meeting on Wednesday as planned, delegates at the Joint Ministerial Monitoring Committee (JMMC) agreed at their meeting on Tuesday, signaling confidence in the current plans to ease the production cuts as of May despite surging COVID […]

Mid-Week Review – April 21, 2021

Oil prices lower on global COVID worries, U.S. inventories Oil futures traded lower Tuesday as traders grappled with rising COVID-19 infections in Asia, while awaiting official data on U.S. crude supply levels after a trade group reported an unexpected rise in inventories. West Texas Intermediate crude for June delivery CL.1, -1.06% CLM21, -1.42% fell 91 cents, or 1.5%, to $61.76 […]

Mid-Week Review – April 14, 2021

Oil Market Report – April 2021 A year on from what the IEA called “Black April”, one of the darkest months ever for world oil markets, fundamentals look decidedly stronger. The massive overhang in global oil inventories that built up during last year’s Covid-19 demand shock is being worked off, vaccine campaigns are gathering pace […]

Mid-Week Review – April 7, 2021

Oil prices rise on stronger economic outlook, US stockpile draw Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. But optimism over talks between the United States and Iran and an impending increase in supply […]

Mid-Week Review – March 31, 2021

Crude Oil Price Forecast – Crude Oil Markets Continue Noisy Behavior The West Texas Intermediate Crude Oil market has been all over the place during the trading session on Monday as we continue to see conflicting headlines cause major issues. For example, the tanker in the Suez Canal has finally been moved, but at this point in […]

Mid-Week Review – March 24, 2021

EIA Expects Crude Prices to Rise Through April In its March Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects Brent crude oil prices will average $64 per barrel (b) in the second quarter of 2021 and then fall to less than $60/b through the end of 2022. Higher crude oil prices in March and […]

Mid-Week Review – January 27, 2021

Elon Musk’s gas drilling plans in Texas meet legal resistance Elon Musk recently moved to Texas, where he launches some of his rockets and is building a battery factory. Now, for good measure, he plans to drill for natural gas in the state. The billionaire’s SpaceX intends to drill wells close to the company’s Boca […]

Mid-Week Review – November 4, 2020

Forget Fracking, Oil Stocks Will Likely Move More On These Factors Post-Election Whoever wins the presidential election will help shape the U.S. energy industry long term, but the victory will have less impact on oil stocks in the near term as weak demand during the coronavirus pandemic weighs on oil prices. Click here to read […]

Mid-Week Review – October 14, 2020

IEA forecasts a serious, ongoing oil demand hit from Covid-19 After an unprecedented 8% drop this year, global oil consumption will return to pre-crisis levels in 2023, provided Covid-19 is brought under control next year, the Paris-based agency said on Tuesday. Even in that case, which is the most optimistic scenario for oil considered by […]

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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