Markets Recover from Very Large Product Builds

Crude is recovering from yesterday’s losses with modest gains in early trading Thursday morning.  WTI Crude is trading up this morning at $58.17, a gain of 36 cents. Fuel is mixed but relatively flat in early trading this morning.  Diesel is trading at $1.8667, a loss of 1.1 cents.  Gasoline is trading at $1.6413, a […]

China No Longer Labeled Currency Manipulator

Yesterday markets closed lower – extending to five days the streak of losses.  The market appears to have dismissed Middle East tensions in the short term.  However, crude is up in early trading this morning.  Crude is currently trading at $58.66, a gain of 58 cents. Fuel prices are up.  Diesel is trading at $1.9113, […]

Week in Review

The crude market was up for the week.  It started the week relatively unchanged on little news, but as mid-week came around, the markets fell on bearish inventory numbers.  On Wednesday, prices recovered from session lows on positive trade sentiment and the markets closed the week higher on news of a phase one trade deal […]

“Getting VERY close to a BIG DEAL with China”

Yesterday morning brought an oil price surge as Trump tweeted that the US and China were on the cusp of finalizing a major trade deal. WTI crude briefly touched $60/bbl this morning, the highest price since the Saudi oil attack in September. Currently, crude prices are trading at $59.36, up 18 cents from yesterday’s close […]

OPEC Cuts Elevate Markets

Oil prices are lower early Monday amid profit taking from last week’s gains. Crude oil is currently trading at $58.41, down 79 cents. Fuel is also down this morning.  Diesel is trading at $1.9278, a loss of 2.4 cents.  Gasoline is also lower, trading at $1.6289, down 1.9 cents. On Friday, crude prices rose following […]

OPEC Jawboning Sways Markets

Crude is down in early trading this morning.   News of deeper OPEC supply cuts seem to be offset by weak manufacturing data coming from the US.  Crude is currently trading at $55.55, a loss of 41 cents. Fuel prices are down in line with crude.  Diesel is trading at $1.8747, a loss of 1.1 cents.  […]

Oil Briefly Above 200-Day Moving Average

Once again a large price swing is being negated this morning as markets are driven by headlines rather than fundamentals. Crude oil is trading at $56.76, down 96 cents (-1.7%) from Friday’s close. Fuel prices are taking a hit as well. Diesel prices are trading at $1.9018, down 4.6 cents (-2.4%). Gasoline prices are currently […]

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 […]

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 […]

Lack of Trade Deal Progress Weighs on Markets

A lack of progress in getting a trade deal done is putting downward pressure on prices this morning.  WTI Crude is trading at $56.43, a loss of 37 cents. Fuel is down this morning.  Diesel is trading at $1.8718, a loss of 2.6 cents.  Gasoline is trading at $1.6075, a loss of 0.7 cents. On […]

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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