De-escalation and Inventory News Drive Markets Lower

WTI crude oil prices settled yesterday at the lowest levels since December 12th to close at $59.61, a loss of $3.09 (-4.9%).  WTI Crude is trading sideways this morning at $59.63, a gain of 2 cents. Fuel is mixed but relatively flat in early trading this morning.  Diesel is trading at $1.9479, a loss of […]

Platts Warns of Diesel Price Gains Amid IMO 2020

We all heard the hype about IMO 2020, and the projected price increases. When January 1 hit, markets watched the market – only to see a minimal impact. While marine fuel prices are definitely up, the effect has not rippled through the market. At least, not yet. In a recent article, S&P Platts warns that […]

IMO 2020 Hits, Diesel Prices Steady

For all the talk about IMO 2020, markets seem to be adapting quite well to the massive change which affects roughly 4% of the world’s oil demand. The regulation officially went into effect yesterday, requiring that all marine vessels switch from using 3.5% sulfur fuel to 0.5% sulfur fuel. While marine fuel prices have seen […]

Mid-Week Review – November 6, 2019

The First OPEC Member to Cut Oil Targets Over Climate Concerns OPEC’s fourth-largest producer currently, Kuwait, may revise down its long-term oil capacity production targets due to concerns that environmental risks will limit oil demand growth, in what would be a first acknowledgement from an OPEC member that climate change could stifle oil demand.  Click […]

Comfortable with Oil Prices? That’s a Bad Sign

Oil prices are continuing their upward trend this morning after gains weakened yesterday afternoon. Although prices launched nearly a dollar higher at points in the day, crude closed just 30 cents higher at the end of yesterday’s session. Today, crude oil is trading at $56.94, up 40 cents. Fuel prices also saw moderate gains yesterday, […]

Diesel Draw Stokes IMO 2020 Concerns

Markets are trending sideways to lower this morning following yesterday’s continued gain for oil markets. Although prices began the day on weak economic data yesterday, the market could not let go of the bullish EIA data. Crude oil is currently trading at $56.10, down 13 cents from yesterday’s close. Fuel prices are remaining in check […]

Missile Strikes on Iranian Tanker

Markets closed higher yesterday on news from OPEC regarding production cuts, and this morning headline declaring missile strikes on an Iranian tanker are continuing the gains. Crude oil is currently trading at $54.10, up 55 cents. Fuel prices are also higher this morning, with diesel leading the complex higher. With inventories falling quickly and IMO […]

Week in Review – October 11, 2019

The crude market was up for the week.  The big driver for the week was positive sentiment around US-China trade talks.  Some reports suggest that the Chinese would be willing to accept a partial trade deal with the US – possibly increasing annual purchases of agricultural products in order to secure an interim trade deal […]

Unemployment at Record Low, IMO 2020 Pressures Diesel

Oil prices are creeping higher this morning after a long streak of down days. Markets have closed lower for the past eight days, so pay attention to see if prices continue sinking today. The longest streak of down days in NYMEX WTI Crude history was 12 straight sessions, a record set just a year ago […]

What to Watch in Crude Inventories

Oil has traded within a $58-$59 range for a week now following the Saudi attacks last week. While that’s on the high end of 2019’s $50-$60 range, there has not been a marked break above the range, highlighting how flexible markets have become over the last few years as American oil has dominated the global […]

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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