OPEC Meeting, Saudi Threats

OPEC rumors and bullish inventory news are lifting the markets.  WTI Crude is trading at $58.83, a gain of 40 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9373, a gain of 1.4 cents.  Gasoline is trading at $1.6228, a gain of 1.9 cents. On Wednesday, crude prices rose more […]

Markets Move on Inventory News and Hope of Supply Cuts

A larger-than-expected draw reported by the API seems to be putting upward pressure on crude markets this morning.  WTI Crude is trading at $57.15, a gain of $1.05. Fuel is up in early trading this morning.  Diesel is trading at $1.9144, a gain of 3.5 cents.  Gasoline is trading at $1.1.5934, a gain of a […]

Prices Rebound after Huge Drop on Friday

The turkey hangover seeped into markets on Friday, bringing the largest price drop since October. WTI crude gave up just shy of $3/bbl, falling from over $58/bbl to just above $55/bbl. This morning, prices are rallying back once again. Crude oil is trading at $56.39, up $1.22 cents. Fuel prices also crashed lower, with diesel […]

Markets Leap Despite IMO 2020 Fears Subsiding

Oil prices were brought to a crescendo yesterday, leading to the highest closing price for crude oil since September. That said, prices remain within the trading range we’ve seen for most of the year, between $50-$60/bbl. Crude oil this morning is trading at $58.63, up a nickel from yesterday’s 2-month high. Fuel prices also got […]

Week in Review – November 22, 2019

The crude market was up for the week.  The market was down to start the week as it dealt with pessimistic trade news.  In addition, Russia had announced it was against deeper supply cuts.  The oil complex seemed to ignore any bearish news to end the week and it surged higher on even the slightest […]

Oil Complex Ignoring Bearish News

While there was a build in crude stocks reported by the EIA, there was a sizable draw at Cushing which seems to be lifting prices this morning.  WTI Crude is trading at $57.43, a gain of 42 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9082, a gain of 1.6 […]

US Deemed a Net Oil Exporter

Crude is down on negative trade sentiment. Crude prices continue to be lower this morning following negative sentiment out of China surrounding Trump’s comment that there was no agreement on phasing out tariffs.  A Chinese government source was quoted by CNBC as saying there was “gloom” in Beijing about prospects for a trade compromise.  Crude […]

Week in Review – November 15, 2019

The Crude Market was down for the week.  The market was up and down to start the week as it tried to figure out what to make of pessimistic trade news and OPEC’s jawboning to start the week.  Traders seemed to latch onto bullish inventory news reported by the API late Wednesday of a surprise […]

Surprise Draw is Moving the Markets

A surprise draw in crude stocks is putting upward pressure on prices this morning.  WTI Crude is trading at $57.55 a gain of 43 cents. Fuel is up this morning.  Diesel is trading at $1.9345, a gain of 2.2 cents.  Gasoline is trading at $1.6456, a gain of 0.9 cents. Crude prices rose after the […]

Lack of Trade Deal Progress Weighs on Markets

A lack of progress in getting a trade deal done is putting downward pressure on prices this morning.  WTI Crude is trading at $56.43, a loss of 37 cents. Fuel is down this morning.  Diesel is trading at $1.8718, a loss of 2.6 cents.  Gasoline is trading at $1.6075, a loss of 0.7 cents. On […]

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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