Mid-Week Review – July 21, 2021

Oil-Price Swoon Spurs Traders to Bet on Further Declines Bets that oil investors made in options markets help explain why crude prices fell so sharply on Monday, and show that traders are bracing for prices to lurch lower once more. U.S. crude prices swooned in tandem with stocks and other industrial commodities to start the […]

Prices Continue to Fall After OPEC+ Agreement

This morning prices continued to fall while posting some of their lowest opening numbers of the week. Crude this morning opened at $72.96, diesel at $2.1379, and gasoline at $2.2926. The agreement between Saudi Arabia and the United Arab Emirates (UAE) is helping to weaken the oil rally, since it will provide more supply each […]

Fuel Prices During Harvey

Hurricane Harvey (still categorized as a Tropical Depression at the time of writing) brought record-level rainfalls to East Texas and West Louisiana, causing flooding and destruction throughout the Gulf Coast. Cumulative rain falls surpassed 50 inches in some area, the most rain ever received from a tropical cyclone system in the Lower 48 states. Because […]

Today’s Market Trend

After plummeting $1.50 on Friday, crude prices are up slightly to $45.99 this morning, a gain of 22 cents over Friday’s close. Markets fell dramatically ahead of OPEC’s meeting this weekend as markets expected no constructive announcements. Prices opened at $45.62, nearly $1.30 (2.8%) below Friday’s opening price of $46.91. Diesel price and gasoline prices […]

Gasoline and Diesel Retail Prices

The EIA released its weekly retail gasoline and diesel prices yesterday. Prices were mixed, with diesel prices mostly rising and gasoline prices falling. Given the precipitous rise in NYMEX prices for both wholesale and gasoline, the mixed results are somewhat surprising. NYMEX gasoline (RBOB) saw gains of roughly 4 cents, while NYMEX diesel (HO) rose […]

Today’s Market Trend

Crude prices are down slightly to $46.50 this morning, losing a minor 4 cents this morning. Prices opened this morning 60 cents higher than Friday’s opening price. Prices have fallen slightly since today’s open, with no fundamental news driving price action. Diesel price are $1.5137, down 13 points since yesterday. Prices opened this morning 2.4 […]

Today’s Market Trend

WTI crude prices remain in the $44.00/b-$44.25/b range this morning. WTI prices climbed as high as $44.44/b yesterday, before subsiding to a close of $44.24/b. WTI opened at $43.70/b today, an increase of $0.21, or 0.48%, above yesterday’s opening price. Prices are $44.09/b currently, down by $0.15 from yesterday’s closing price. Diesel opened at $1.4035/gallon […]

Today’s Market Trend

WTI crude prices are in the $43.00/b-$43.50/b range this morning. Prices strengthened modestly on Friday, closing at $43.01/b, which was a gain of $0.21 for the day. The week as a whole nonetheless ended in the red, down by $1.67 between Monday’s opening and Friday’s close. WTI opened at $43.16/b today, up by $0.36, or […]

Today’s Market Trend

WTI crude prices are in the $44.50/b-$44.75/b range this morning. WTI opened at $44.68/b today, an increase of $0.43, or 0.97%, below Friday’s opening price. Current prices are $44.85/b, up by $0.11 from Friday’s closing price. Last week, WTI closed at $44.74/b, which was down $1.06 for the week. Today’s opening price was the lowest […]

Today’s Market Trend

WTI crude prices have fallen to the $44.50/b-$44.75/b range this morning, following another sharp collapse yesterday. WTI opened at $44.69/b today, a steep drop of $1.25, or 2.72%, below yesterday’s opening price. Current prices are $44.58/b, down by $0.15 from yesterday’s closing price. Diesel opened at $1.410/gallon this morning. This was a significant drop of […]

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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