Week in Review – March 18, 2022

This week headlines included Russia-Ukraine talks driving prices down at the beginning of the week, oil falling below $100 and what that means for gas, where Russian sanctions are hurting most, and the Fed approving an interest rate hike. Since the invasion, Russia has already agreed to allow safe zones for Ukrainian citizens; however, the […]

Fed Approves Interest Rate Hike – First in Over Three Years

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 […]

Two Reasons Fuel Prices Are Down 20 Cents

Over the past two weeks, oil prices have collapsed to the lowest point in three months. While observers can clearly attribute bearish sentiment to the spread of the Delta variant, the fundamental supply/demand picture has not changed significantly. So, why the intense selloff this week? Today, we’ll explore two specific reasons why oil prices have […]

Week in Review – 3 Reasons Oil Recovered from Last Week’s Drop

Prices continued recovering this week after crashing to $66/bbl last week. WTI crude opened at $72/bbl this week and continued climbing from there. Several supportive headlines for oil prices have kept prices from testing last week’s low. Federal Reserve Sees Positive Outlook. The Federal Reserve kept interest rates near zero on Wednesday, noting that the […]

Fed Chairman Urges Congress for Stimulus Package

On Wednesday, WTI crude closed slightly higher but is trading sideways in early trading this morning. Despite the resoundingly bullish EIA report yesterday, markets failed to rise above $40/bbl. The dollar strengthened for the fifth day in a row as US equities fell and investors fled to cash. Yesterday’s flight to cash was triggered by […]

Fed Leaves Rates Unchanged

Oil prices are up this morning, recovering some of yesterday’s losses.  WTI Crude is trading at $58.93, a gain of 17 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9416, a gain of 1.3 cents.  Gasoline is trading at $1.6323, a gain of 0.6 cents. On Wednesday, crude prices fell […]

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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