Iran Fires Missiles at Mock US Carrier

After moderate losses during yesterday’s trading session, oil prices are recovering slightly, supported by surprising oil inventory data from the API. While economic stimulus remains the critical story of the day, markets are also eyeing geopolitical unrest in some areas of the world. In the Middle East, Iran appears to have built a replica aircraft […]

Mid-Week Review – July 29, 2020

End Game for Oil Somare speculating that oil demand may never recover to pre-COVID levels. If that’s the case, a lot of OPEC nations, reliant on exports to fill government coffers, may be in trouble. Click here to read from Reuters how the group is coping with declining oil demand.   Infrastructure: The Next Big […]

US-Iran Tensions Flare Despite COVID-19

In today’s topsy-turvy world, it’s hard to talk about anything other than COVID-19 news, perhaps with the occasional OPEC call-out. But over the last few weeks, tensions have been flaring in the Middle East, and COVID-19 may be right at the heart of the tension. Before we jump into geopolitics, let’s touch on the latest […]

Outbreak May Evolve into Pandemic

In Asia, Europe, and the Middle East hundreds of new cases of the coronavirus, COVID-19, have been reported.  The virus has been found in about 30 countries.  In the US, the Center for Disease Control warned of the inevitable outbreak of the virus.  The organization is preparing for “severe” disruptions to daily life in the […]

Mid-Week Review – January 8, 2020

Oil Rally Cools as Iranian Strike Causes No U.S. Casualties Oil’s rally faded as the U.S said Iranian airstrikes on military bases in Iraq didn’t cause any casualties, reinforcing speculation that Tehran is opting for limited retaliation over the killing of a top general. Futures in London initially surged more than 5% as the Islamic […]

Iran Assessing Response to Killing

Crude is down in early trading this morning.  Crude is currently trading at $62.60, a loss of 67 cents. Fuel prices are down.  Diesel is trading at $2.0136, a loss of 2.0 cents.  Gasoline is trading at $1.7232, a loss of 3.1 cents. Yesterday markets rose as the US warned of heightened threats to energy […]

Oil Hits 8-Month High after US Kills Iranian General

Yesterday, we said that 2020 will have a hard time living up to the geopolitical drama of last year. We may have spoken too soon. Oil prices are soaring higher this morning following a US military strike on Iranian General Qasem Soleimani in Iraq last night. Crude oil prices are up by more than $2/bbl […]

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, […]

Turkey-Kurd Conflict Spooks Market

After a weak opening this morning, oil prices have turned and are moving higher in response to instability in Syria and US-Turkey relations. Falling as low as $52.40 this morning, crude prices regained some ground to trade at $53.21, still 38 cents below yesterday’s closing price. Fuel prices are trading flat as crude markets fluctuate. […]

Markets Hopeful for Interim Trade Deal

Reports of the Chinese being willing to accept a partial trade deal are lifting markets this morning.  WTI Crude is trading at $53.36, a gain of 73 cents. Fuel is up this morning.  The API reported larger-than-expected draws in products are helping to buoy prices.  Diesel is trading at $1.9344, a gain of 2.4 cents.  […]

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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