This morning oil prices are rising again, jumping up around 6% from yesterday after three straight days of losses. The International Energy Agency (IEA) warned of “the biggest supply crisis in decades” as Russian exports are set to drop by 3 million barrels per day next month. It’s a sign of recent volatility that diesel […]
On Wednesday, WTI crude closed relatively unchanged. However, crude is moving lower in early trading this morning. Fed comments from the Federal Open Market Committee (FOMC) meeting minutes regarding the slow pace of economic recovery gave pause to equities and oil markets, although weakness in the dollar helped to support oil prices. “Participants generally agreed […]
On Wednesday, WTI Crude closed slightly higher. Crude stocks had a large surprise draw of 10.6 MMbbls, which helped to lift markets. Also lifting markets yesterday was news from the Fed. Crude is down in early trading this morning as demand worries once again overshadow positive news. As expected on Wednesday, the Federal Reserve held […]
After a strong finish yesterday, oil prices are suffering heavy losses stemming from a variety of headlines. On Wednesday, WTI Crude finished higher after bullish demand news and a mixed EIA inventory report that was bearish, but less so than this week’s API numbers. This morning, prices are retreating following an increase in COVID-19 cases […]
Yesterday, WTI crude broke into the $30 price range for the first time since the 1st quarter of this year. Prices are continuing their upward trend in early trading this morning. The negative prices of last month seem like a distant memory as the June contract prepares to expire while holding onto gains. Several factors […]
