China, 60% Back to Work

Crude prices are relatively flat this morning after yesterday’s large drop, the largest drop in almost seven weeks.  Investors are trying to gauge the economic consequences of the quickly spreading coronavirus and whether it will become a global pandemic.  Goldman Sachs says certain economic metrics appear at least 20% below what is normally seen this […]

Crude Reaches Highest Level This Month

Yesterday, oil prices reached their highest level this month as US sanctions on Russian oil company, Rosneft, and unrest in Libya added more uncertainty and concerns for the global crude supply. Crude prices are up this morning on optimism that China will enact economic stimulus to soften the demand destruction caused by the coronavirus.  Chinese […]

Mid-Week Review – February 19, 2020

Waiting on an IMO Diesel Spike One of the widely-held expectations concerning the International Maritime Organization’s (IMO) 2020 sulfur cap on marine fuels was that the price of gasoil/diesel would spike in the opening months of 2020, as demand for gasoil in the bunker market would strain existing supplies and push prices higher. Six weeks […]

A Closer Look at the Coronavirus

Pandemic threats are keeping markets on high alert this morning, and prices are plummeting out of fear that demand may grind to a standstill in China. With concerns escalating, we’ll focus today on review what a coronavirus is and why it’s impacting oil markets: What Is a Coronavirus? The coronavirus is actually a family of […]

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.  […]

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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