API Reports Surprise Crude Build

On Tuesday, WTI Crude closed up sharply on news of a European Union stimulus deal and hopes for a coronavirus vaccine in the near future.  This morning the market is giving back some of those gains in early trading as fears of a resurgence in lockdowns retakes precedents. Also putting downward pressure on markets today […]

Mid-Week Review – July 22, 2020

With oil cheap, Arab states cannot balance their books Peak demand for oil may still be years away, but covid-19 has given the Middle East and north Africa a taste of the future. Prices of the black stuff plummeted as countries went into lockdown. The region’s energy exporters are expected to earn about half as […]

EU Stimulus Lifts Markets

Yesterday, WTI crude closed the day marginally higher.  Prices are up in early trading this morning on news from the European Union of a 750 billion euro ($859 billion) fund to assist EU economies hurt by the coronavirus.  The unprecedented deal allows the European Commission to raise billions of euros on capital markets on behalf […]

Natural Gas News – July 6, 2020

Nat Gas News – July 6, 2020 Warren Buffett’s Berkshire Buys Dominion Energy Natural Gas Assets in $10 Billion Deal Warren Buffett’s Berkshire Hathaway is finally pulling the trigger. The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals […]

Mixed Inventory News Puts Downward Pressure on Markets

On Tuesday, WTI crude gave back most of Monday’s gains on little headline news and fears of an uptick in coronavirus cases globally. The market is down in early trading this morning on mixed inventory news. The API signaled another build in crude inventories yesterday.  The larger-than-expected rise in oil stocks put downward pressure on […]

Mid-Week Review – June 24, 2020

With contracts canceled and debts mounting, offshore oil drillers face another shakeout The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. Click here to […]

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 […]

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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