Week in Review – July 31, 2020

WTI Crude finished the week lower as the coronavirus pandemic continues to weigh on the economy.  A recent surge in cases across the country caused a rollback of reopening plans and rekindled fears of demand concerns in the crude market. In inventory news, a large surprise draw of 10.6 MMbbls reported by the EIA barely […]

The Fed Holds Rates Steady

On Wednesday, WTI Crude closed slightly higher.  Crude stocks had a large surprise draw of 10.6 MMbbls, which helped to lift markets.  Also lifting markets yesterday was news from the Fed.  Crude is down in early trading this morning as demand worries once again overshadow positive news. As expected on Wednesday, the Federal Reserve held […]

Iran Fires Missiles at Mock US Carrier

After moderate losses during yesterday’s trading session, oil prices are recovering slightly, supported by surprising oil inventory data from the API. While economic stimulus remains the critical story of the day, markets are also eyeing geopolitical unrest in some areas of the world. In the Middle East, Iran appears to have built a replica aircraft […]

Mid-Week Review – July 29, 2020

End Game for Oil Somare speculating that oil demand may never recover to pre-COVID levels. If that’s the case, a lot of OPEC nations, reliant on exports to fill government coffers, may be in trouble. Click here to read from Reuters how the group is coping with declining oil demand.   Infrastructure: The Next Big […]

Congress Debates $1 Trillion Stimulus

Yesterday, WTI crude closed up slightly on hopes of a new round of stimulus measures being discussed in the US.  A monetary injection into the economy in the form of another stimulus package would give a jolt to the wavering economy as it oscillates between gains and losses due to coronavirus fears.  In the crude […]

Stimulus and Fed Meeting Will Dictate Week’s Trading

Oil markets are seeing light activity this morning following Friday’s news of the first weekly increase in US oil rig counts since March. The US economy is in focus for oil markets today, as two major releases are expected this week. First, Senate Republicans today will unveil their latest economic stimulus package, which most expect […]

US-China Tensions Flare, Tropical Storms Forming

Oil prices are trading sideways this morning to close out a relatively uneventful week, at least from a pricing standpoint. Thursday saw prices turn lower across financial markets amid continued coronavirus fears. In geopolitical news, China has forced the closure of a US consulate in Chengdu, after America demanded the country close its Houston consulate. […]

Natural Gas News – July 23, 2020

Natural Gas News – July 23, 2020 US LNG cargo cancellations slow for September Sluggish global demand for liquefied natural gas (LNG) continued to push US LNG buyers to cancel cargo loading for September, according to industry sources for Reuters. However, the pace of cancellation in September seems to have slowed down. Some sources estimate […]

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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