Vaccine News Sparked this Multi-Week Rally

On Tuesday, WTI crude closed higher as the vaccine rollout continues and hopes for another round of economic stimulus in the US grows. The market is giving back some of those gain this morning even in the face of favorable inventory news from the API. The rally that the market has been on began in […]

Mid-Week Review – January 13, 2021

Oil prices rise to near 1-year highs on vaccines, stimulus, and Saudi Arabian production cuts Oil prices rose on Wednesday to close to 1-year highs, as data hinted at stronger demand, while more stimulus and production cuts brightened the outlook. It is a remarkable turnaround for oil prices, after demand tanked during the first wave […]

Oil Inventory Build Weakens Rally

Fuel markets climbed to yet another high to end yesterday’s trading session, putting the US crude contract at a whopping $47.62/bbl. Like many other mornings this week, trading is flat/lower. For the last two weeks, those types of mornings have either resulted in a flat trade or a moderate gain, but the EIA’s weekly petroleum […]

Weekly Round-up – December 16, 2020

IEA December Market Report The understandable euphoria around the start of vaccination programmes partly explains higher prices but it will be several months before we reach a critical mass of vaccinated, economically active people and thus see an impact on oil demand. In the meantime, the end of year holiday season will soon be upon […]

Vaccine Hopes Outweigh Bearish Inventory News

On Tuesday, WTI crude closed down slightly as US coronavirus cases topped 15 million. This bleak threshold was tempered by optimism in the market around the hope for vaccines’ success. Crude is up in early trading this morning as bearish inventory news is outweighed by news of the beginning of a mass vaccination program in […]

Mid-Week Review – December 9, 2020

Two small Iraqi oil wells set ablaze in ‘terrorist attack’, ministry says Two wells in a small oilfield in northern Iraq were set ablaze by explosives in a “terrorist attack” on Wednesday but overall production from the field was not affected, the Oil Ministry and officials said Wednesday. Click here to read more from Reuters. […]

Builds in Crude and Products Pressure Markets

On Tuesday, WTI crude closed lower on pessimistic news of a delayed meeting by OPEC+ regarding continuation of current supply cuts into next year. Crude is trading sideways this morning, but is feeling downward pressure from bearish inventory news from the API. Yesterday, the API reported a surprise build in crude and stock increases in […]

Mid-Week Review – December 2, 2020

Oil prices drift lower as traders await OPEC+ decision on production curbs Oil futures edged lower Wednesday, with traders awaiting a decision by the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, on whether to relax existing curbs on crude output next month. Click here to read more from […]

Bullish Inventory News with Election Overshadowing Market

On Tuesday, WTI crude closed higher on positive demand news out of China and positive supply chatter from OPEC+. In early traing this morning markets continue to rise even in the face of uncertain US Election results. Votes continue to be counted in a tight US election in which Biden has a small electoral vote […]

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 […]

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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