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 […]
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 […]
The crude market was down for the week and continues its downward trend in early trading this morning. The major news moving markets this week was all about the coronavirus and its rapid spread outside of China. South Korea, Iran, Italy and Japan among others, are all taking major steps to slow the spread of […]
Oil markets are continuing their steep drop, in a sell-off reminiscent of the price crashes seen in 2015-16 and, before that, in 2009. Crude oil and diesel prices have shed nearly 30% of their value since the beginning of the year, while gasoline losses are around 22%. Crude prices are at their lowest level in […]
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 […]
