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 […]

Beyond the Rumor Mill

Tired of the oil market rumor mill? Heard too much about China and OPEC? We feel you. Oil prices have been balanced within the $50-$60 range for months now, constantly driven one way or another by speculation regarding US-China trade and OPEC production targets. Nearly every headline on both issues become irrelevant within a week […]

China Economy Weakens but OPEC Not Concerned

Friday saw some bumpy trading action for oil markets, with oil prices slipping in the morning before rising again heading into the close. Weakened trade sentiments are weighing on oil this morning. Crude oil is currently trading at $56.45, down 79 cents from Friday’s close. Fuel prices are sinking lower as well after small losses […]

Comfortable with Oil Prices? That’s a Bad Sign

Oil prices are continuing their upward trend this morning after gains weakened yesterday afternoon. Although prices launched nearly a dollar higher at points in the day, crude closed just 30 cents higher at the end of yesterday’s session. Today, crude oil is trading at $56.94, up 40 cents. Fuel prices also saw moderate gains yesterday, […]

Trade and OPEC – What’s Suppressing Markets Today?

Oil prices fell yesterday following comments from Russia regarding future OPEC cuts. Still, positive sentiments on interest rates are buoying the market, providing a bit of support to cushion the drop. The Fed is expected to cut interest rates this week, lifting equity markets to near-record levels. Crude oil is currently trading at $54.83, down […]

Week in Review – October 25, 2019

The Crude Market was up for the week.  The week started with positive comments from China regarding trade talks which helped to lift the market.  However, by mid-week, inventory news was the major headline driving markets. On Wednesday, the EIA reported a surprise crude draw of 1.7 MMbbls versus expectations of a crude build of […]

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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