Mid-Week Review – November 20, 2019

U.S. oil futures mark lowest finish so far this month Oil futures fell on Tuesday, with U.S. prices settling at their lowest so far this month. A report from Reuters said Russia would likely commit to extend an existing pact to curb output at the early December meeting of the Organization of the Petroleum Exporting […]

Surprise Draw is Moving the Markets

A surprise draw in crude stocks is putting upward pressure on prices this morning.  WTI Crude is trading at $57.55 a gain of 43 cents. Fuel is up this morning.  Diesel is trading at $1.9345, a gain of 2.2 cents.  Gasoline is trading at $1.6456, a gain of 0.9 cents. Crude prices rose after the […]

Crude Draw, but Build at Cushing

A build at Cushing is putting downward pressure on prices this morning.  WTI Crude is trading at $55.34, a loss of 20 cents. Fuel is mixed this morning.  Diesel is trading at $1.9544, a fractional loss.  Gasoline is trading at $1.6975, a gain of 1.2 cents. On Tuesday, crude prices fell after mixed news from […]

Week in Review – October 25, 2019

The Crude Market was up for the week.  The week started with positive comments from China regarding trade talks which helped to lift the market.  However, by mid-week, inventory news was the major headline driving markets. On Wednesday, the EIA reported a surprise crude draw of 1.7 MMbbls versus expectations of a crude build of […]

Surprise Crude Draw Drives Market Up

The market is trying to continue yesterday’s bull run that was based on a surprise draw.  WTI Crude is trading at $56.09, a gain of 12 cents. Fuel is flat in early trading this morning.  Diesel is trading at $1.9664, a fractional gain.  Gasoline is trading at $1.6524, also a fractional gain. On Wednesday, markets […]

Bulls Held Up by Inventory News Again

Rising crude stocks are putting downward pressure on prices again this morning.  WTI Crude is trading at $53.77, a loss of 71 cents. Fuel is down this morning.  Diesel is trading at $1.9261, a loss of 1.8 cents.  Gasoline is trading at $1.5989, a loss of a penny. On Tuesday, crude prices rose on positive […]

IMF Cuts Global Growth Forecast Again

Prices are flat this morning as the specter of slower economic growth is weighed against potential OPEC cuts.  WTI Crude is trading at $52.87, a gain of 6 cents. Fuel is mixed this morning.  Diesel is trading at $1.9196, a gain of 1 cent.  Gasoline is trading at $1.6081, a loss of 0.6 cents. On […]

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 […]

Mid-Week Review – October 2, 2019

Oil prices drop after reports Saudi Aramco has restored output capacity to pre-attack levels Oil futures sank on Monday, sending U.S. prices to their lowest settlement in a month, after reports that Saudi Aramco has fully restored production capacity that was lost to the crippling attacks on Saudi oil facilities earlier in September.  Click here […]

Week in Review – September 27, 2019

The Crude Market was down for the week.  The week started as a continuation of last week with the markets continuing to weigh the outcomes form the attack on Saudi oil infrastructure.  Despite international consensus that Iran was behind the attacks, it became clear that direct military action against Iran was unlikely.  As the week […]

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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