After another weak session to close out last week’s trading, oil remains lower today amid OPEC+ turmoil. While many had hoped Russia would quickly agree with OPEC’s recommendations for deeper cuts, so far the country has called for a more patient approach. It appears OPEC may not meet until March to discuss production cut extensions, […]
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 […]
The crude market was down for the week. The major news driving markets this week is the Coronavirus coming from China. The sickness has stoked the fear that people will travel less or stop travelling all together. According to Goldman Sachs, oil markets are likely to take a hit from China’s deadly coronavirus, with aviation […]
On Thursday, crude prices continued the downward trend we had seen through the week based upon the news of the possible spread of the coronavirus. The virus has prompted the suspension of public transportation in 10 Chinese cities. Health authorities fear the infection could spread as millions of Chinese travel over the Lunar New Years […]
The crude market was up for the week. It started the week on an upward trajectory on trade news details. By mid-week easing trade tensions and macroeconomic news continued to drive markets higher. EIA inventory numbers were also bullish when compared to the API numbers and those numbers and positive trade sentiment helped to lift […]
Yesterday brought another round of buying, pushing crude oil to close above $61/bbl. Today, prices are fading slightly, with markets slowing heading into a holiday week. Crude oil prices are currently $60.79, down 39 cents. Unlike crude, fuel prices are slightly higher this morning. Diesel prices are trading at $2.0392, up roughly a penny from […]
Oil prices are relatively unchanged this morning. WTI Crude is trading at $60.91, a loss of 2 cents. Fuel is up in early trading this morning. Diesel is trading at $2.0225, a gain of 0.2 cents. Gasoline is trading at $1.6930, a gain of 0.9 cents. On Wednesday, crude prices closed flat after trading lower […]
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 […]
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 […]
The U.S. Dominates New Oil and Gas Production Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels. Natural gas reserves have surged over 80% to ~430 trillion cubic feet. Already the largest oil and gas producer, the U.S. is set to increase its share of […]
