Trump Directs EPA to Deny Biofuel Waivers

On Tuesday, WTI crude followed US equities lower, closing 7.6% down for the day.  The market was inundated with bearish news, including slowing crude demand coming from China and rising coronavirus cases around the world. The market is recouping some of yesterday’s losses in early trading this morning. President Trump gave direction to the Environmental […]

Mid-Week Review – September 9, 2020

Oil prices are collapsing after Saudi Arabia sends ominous signal The fierce selling in the energy market is being driven largely by rising concern about how much crude the fragile world economy needs. With Labor Day in the rearview mirror, summer driving season in the United States is over. Jet fuel demand remains extremely weak […]

Falling Inventories Not Enough to Influence Traders

On Wednesday, WTI crude closed lower despite new records set in US Equities and a bullish inventory report given by the EIA.  The price decline came on the news from the EIA of falling gasoline demand which caused concern among traders of a slowing recovery. The report showed US gasoline demand last week fell to […]

Draws Across the Board Lift Markets

On Tuesday, WTI Crude followed US equites to close lower.  Earlier in the session, crude and equities had been trading higher on news of slowing coronavirus cases being reported in the US, but falling technology stocks dragged the S&P 500 to close the day lower and crude followed suit. WTI Crude inventories had a large […]

Mid-Week Review – August 12, 2020

Oil rises after bigger-than-expected drop in U.S. inventories Oil prices rose on Wednesday after an industry report showed U.S. crude inventories last week fell more than analysts had expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. Click here to read more from Reuters. Oil climbs as slowing […]

US Added Rigs in June – Will Crude Production Resume?

Yesterday, WTI crude followed US equities higher in the morning session, then lower in the afternoon on coronavirus fears, ultimately closing the day about $1/bbl down. Headlines regarding renewed lockdowns and restrictions in the US and Asia surfaced in the afternoon and put downward pressure on markets.  Concerns that a surge in coronavirus cases could […]

IMF Cuts Global and US Forecasts

On Wednesday, WTI Crude fell more than $2 as it followed US equities lower on fears of a resurgence of coronavirus cases.  Swelling crude inventories reported by the EIA and a surge of new COVID-19 cases around the nation have raised concerns about crude demand in the US and abroad, dragging prices lower. The IMF […]

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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