News Out of Asia Putting Downward Pressure on Markets

On Thursday, WTI Crude finished higher even in the face of relatively bearish EIA inventory news.  This week will mark the first week of losses with the previous four consecutive weeks of gains in crude.  Even with this week’s losses, the month of May is on track to finish with over 70% in monthly gains. […]

Week in Review – May 29, 2020

WTI crude started the short week on Tuesday, trading at levels not seen since early March.  Comments from the IEA’s executive director were bullish on demand returning to pre-crisis levels and higher. Souring the rally as the week progressed was OPEC+ news from Russia regarding tapering off production cuts in July.  While the original OPEC+ […]

Airlines Welcome Uptick in Demand

On Tuesday, WTI Crude finished a quiet day up about 50 cents to close out the June contract with gains on the books.  Oil prices have been on an upward trend for the past three weeks – spurred by increasing demand and OPEC+ production cuts. This morning we are seeing prices lifted by a bullish […]

Fed Chairman States – Don’t Bet Against America

Yesterday, WTI crude broke into the $30 price range for the first time since the 1st quarter of this year. Prices are continuing their upward trend in early trading this morning. The negative prices of last month seem like a distant memory as the June contract prepares to expire while holding onto gains. Several factors […]

Bullish EIA STEO Lift Markets

On Tuesday, WTI Crude finished the day up.  It spiked mid-session on the news that OPEC+ may keep supply cuts in place past June.  Crude prices are flat this morning, as traders weigh possible OPEC+ plans to deepen supply cuts against demand concerns made worse by a possible second wave of coronavirus infections as countries […]

Mid-Week Review – May 13, 2020

Oil inventories soar yet again despite demand rebound The American Petroleum Institute (API) estimated on Tuesday another sizeable crude oil inventory build, of 7.58 million barrels for the week ending May 8, even as several U.S. states begin the slow process of reopening specific segments of their battered economies.  Click here to read more from […]

Oil Rallies as Demand for Gasoline Rises

Yesterday, crude prices advanced sharply on bullish inventory news confirmed by the EIA.  A smaller -than-expected build in crude stocks and a surprise draw in gasoline inventories helped move prices higher.  Further supporting the rally in oil, the US Equities market rallied on news of a potentially useful drug treatment for the coronavirus.  In addition, […]

Trump and Putin Agree to Talks on Stabilizing Energy Markets

Yesterday, crude oil and refined fuels futures prices fell sharply, with WTI crude briefly dipping below $20 bbl after the United States announced extended travel restrictions and social distancing guidelines to last through the end of April, further denting the outlook for global oil demand. Crude prices are up this morning after climbing off 18-year […]

Week in Review – March 13, 2020

The crude market experienced one of the worst downturns since 2008 this week.  The major news moving markets was the beginning of the oil price wars between Russia and Saudi Arabia, causing the largest single day drop (over 20%) since the 1991 Gulf War.  News of Saudi Arabia’s plans to pump 25% more crude next […]

Markets Turn Higher, But Long Recovery Road Ahead

After a week of panic selling and market struggles, both equities and commodities are beginning to find their footing, providing a reprieve (however brief) from the bear market. Of course, it’s hard to determine how much of today’s rally is short covering versus a slow return to normalcy. While equities have been spooked by coronavirus […]

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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