Markets Move on Inventory News and Hope of Supply Cuts

A larger-than-expected draw reported by the API seems to be putting upward pressure on crude markets this morning.  WTI Crude is trading at $57.15, a gain of $1.05. Fuel is up in early trading this morning.  Diesel is trading at $1.9144, a gain of 3.5 cents.  Gasoline is trading at $1.1.5934, a gain of a […]

Russia Against Deeper Supply Cuts

While there was a larger-than-expected build in crude stocks reported by the API, there was a draw at Cushing which seems to be putting upward pressure on prices this morning.  WTI Crude is trading at $55.66, a gain of 45 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.8743, a […]

Opposing News is Weighed by the Market

The EIA reported a larger-than-expected build in crude stocks.  This bearish news may be outweighed by the first draw at Cushing in seven weeks.  WTI Crude is trading at $56.93 a gain of 16 cents. Fuel is flat this morning.  Diesel is trading at $1.9194, a fractional gain.  Gasoline is trading at $1.6229, also a […]

Week in Review – November 15, 2019

The Crude Market was down for the week.  The market was up and down to start the week as it tried to figure out what to make of pessimistic trade news and OPEC’s jawboning to start the week.  Traders seemed to latch onto bullish inventory news reported by the API late Wednesday of a surprise […]

Surprise Draw is Moving the Markets

A surprise draw in crude stocks is putting upward pressure on prices this morning.  WTI Crude is trading at $57.55 a gain of 43 cents. Fuel is up this morning.  Diesel is trading at $1.9345, a gain of 2.2 cents.  Gasoline is trading at $1.6456, a gain of 0.9 cents. Crude prices rose after the […]

Inventory Build Beats Positive Trade Sentiment

A larger-than-expected build in crude stocks is putting downward pressure on prices this morning.  WTI Crude is trading at $56.98, a loss of 25 cents. Fuel is down this morning.  Diesel is trading at $1.9440, a loss of 1.3 cents.  Gasoline is trading at $1.6573, a loss of 1.7 cents. On Tuesday, crude prices rose […]

Crude Draw, but Build at Cushing

A build at Cushing is putting downward pressure on prices this morning.  WTI Crude is trading at $55.34, a loss of 20 cents. Fuel is mixed this morning.  Diesel is trading at $1.9544, a fractional loss.  Gasoline is trading at $1.6975, a gain of 1.2 cents. On Tuesday, crude prices fell after mixed news from […]

Bulls Held Up by Inventory News Again

Rising crude stocks are putting downward pressure on prices again this morning.  WTI Crude is trading at $53.77, a loss of 71 cents. Fuel is down this morning.  Diesel is trading at $1.9261, a loss of 1.8 cents.  Gasoline is trading at $1.5989, a loss of a penny. On Tuesday, crude prices rose on positive […]

Bullish Supply and Trade News Offset by Inventories

Rising crude stocks are putting downward pressure on prices this morning.  WTI Crude is trading at $52.95, a loss of 41 cents. Fuel is down this morning.  Diesel is trading at $1.9296, a loss of 1.3 cents.  Gasoline is trading at $1.6069, a loss of 1.8 cents. On Wednesday, crude prices rose on news from […]

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.  […]

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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