Markets Hopeful for Interim Trade Deal

Reports of the Chinese being willing to accept a partial trade deal are lifting markets this morning.  WTI Crude is trading at $53.36, a gain of 73 cents. Fuel is up this morning.  The API reported larger-than-expected draws in products are helping to buoy prices.  Diesel is trading at $1.9344, a gain of 2.4 cents.  […]

Mid-Week Review – October 9, 2019

Oil lower as tensions grow ahead of U.S.-China trade talks Oil futures headed lower Tuesday as traders kept tabs on developments ahead of U.S.-China trade talks due later this week, which could shape expectations around demand for crude. Oil is being dragged down with stocks and other assets sensitive to global growth expectations, which continue […]

Economy Weighs on Prices Despite Middle East Turmoil

After a brief pause on Friday and Monday, oil prices are resuming their downward trajectory. Economic fears have weighed heavily on the market, keeping a lid on any short-term bullish sentiments. Crude oil prices are currently trading at $52.04, down 71 cents. Fuel prices are also dropping lower once again. Diesel prices are trading at […]

Markets Await Oil Reports, Trump Re-Affirms Biofuel Support

Prices eked out small gains on Friday, halting the 8-day down streak, though barely.  Over the weekend, sentiments shifted to a more positive outlook on the economy given US-China trade talks resuming and a possible rate cut from the Federal Reserve. This morning crude oil is trading at $53.53, up 72 cents (1.4%) from Friday’s […]

Unemployment at Record Low, IMO 2020 Pressures Diesel

Oil prices are creeping higher this morning after a long streak of down days. Markets have closed lower for the past eight days, so pay attention to see if prices continue sinking today. The longest streak of down days in NYMEX WTI Crude history was 12 straight sessions, a record set just a year ago […]

Week in Review – October 4, 2019

The Crude Market was down for the week.  The week opened with news of continued diplomacy in the Middle East and a strong dollar, both of which put downward pressure on the markets.  Poor manufacturing reports and general macroeconomic pessimism continued to drive markets lower through the week.  The downward trend in equities spilled over […]

Economic Fears Rear Head Again

As traders refocus on macroeconomic fears, oil followed equities lower yesterday, extending the streak of crude oil price losses to seven days.  EIA reports of a larger-than-expected build in crude put downward pressure on markets.  WTI Crude is trading at $52.50, a loss of 14 cents. Fuel is mixed this morning.  Diesel is trading at […]

Negative Manufacturing Reports Drive Equities and Oil Lower

After a bullish start yesterday, oil followed equities lower after poor manufacturing reports.   This led to the sixth straight day of losses for crude.  API reports of a surprise draw in crude are lifting markets this morning.  WTI Crude is trading at $53.86, a gain of 24 cents. Fuel is flat this morning.  Diesel is […]

Mid-Week Review – October 2, 2019

Oil prices drop after reports Saudi Aramco has restored output capacity to pre-attack levels Oil futures sank on Monday, sending U.S. prices to their lowest settlement in a month, after reports that Saudi Aramco has fully restored production capacity that was lost to the crippling attacks on Saudi oil facilities earlier in September.  Click here […]

Markets Rise on Lower Output and Equity Gains

Oil prices are getting a lift this morning, a break from the five-day down streak the market has experienced since last week. Crude oil is currently trading at $54.51, up 44 cents. Fuel prices are also moving a bit higher, though the switch to November futures contracts has gasoline trading a bit lower than October […]

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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