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 […]

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, […]

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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