US Rig Count Keeps Falling

Following a tumultuous week for fuel prices, the weekend was relatively calm. Picking up $2/bbl on Friday, the week ended with light $1/bbl losses relative to the beginning of the week. Today, crude prices are flat after a brief stint higher, currently at $54.33. Fuel prices are mixed, with diesel staying flat while gasoline prices […]

Saudi Props Up Market

Although prices have dropped precipitously this week to the lowest point since January, late-week action has brought a move higher. Crude prices climbed over a dollar higher yesterday, while fuel put in roughly 2.5 cent gains. This morning, WTI crude is trading at $54.31, up $1.77 (3.4%). Fuel prices are also continuing to climb higher. […]

Saudi Arabia counters EIA Data & Trade War

Oil markets rocketed lower once again yesterday following a wave of bearish economic indicators worldwide and the EIA’s inventory report. WTI Crude is recovering some ground, trading at $52.13, a gain of $1.04. Fuel is up marginally, following crude higher.  Diesel is trading at $1.7599, up 0.7 cents.  Gasoline is trading higher at $1.6419, up […]

Mid-Week Review

Oil resumes steep drop as U.S.-China trade row raises demand worries Oil futures resumed their drop Monday, tracking losses ripping through broader financial markets as concern for a prolonged trade war and its risk to global crude demand was rekindled.  Last week, the U.S. oil benchmark suffered its biggest one-day fall in more than four […]

Already a Busy Week for US Foreign Policy

Oil prices see-sawed yesterday, ending the session with roughly $1/bbl losses, while fuel prices saw steady declines throughout the day. Today markets are generally trading flat/slightly higher. Crude is currently at $54.77, unchanged from yesterday’s close. Fuel prices are moderately higher after hefty losses yesterday. Diesel prices, down 5.5 cents yesterday, are currently trading at […]

Economic Headwinds Overshadow Oil Tanker Seizure

After moderate gains made during Friday’s trading session, the oil complex is once again dipping lower, more in line with the post-tariff crash seen on Thursday. Crude oil is currently trading at $54.45, down $1.21 (-2.2%) from Friday’s close. Fuel prices are seeing similar losses. Diesel prices are trading at $1.8562, down 3.4 cents (-1.8%) […]

Week in Review

For the week, the crude market was down.  On Monday the market opened up on the heels of renewed U.S.-China trade talks.  Tuesday saw gains based on API data showing a large draw.  Wednesday saw conflicting factors pulling the market in both directions.  Wednesday’s EIA data confirmed an even larger than anticipated draw on crude […]

Markets See 5-Yr Record Drop on New Tariffs

Oil prices plummeted yesterday, experiencing one of the steepest drops in years following Trump’s tariffs announcement. WTI fell by $4.60, the largest single-day drop since November 2014 (and before that, you’d have to look back to 2011 when prices were $80-$90/bbl). Today, the market has rebounded somewhat, with crude up $1.44 to trade at $55.39. […]

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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