China Economy Weakens but OPEC Not Concerned

Friday saw some bumpy trading action for oil markets, with oil prices slipping in the morning before rising again heading into the close. Weakened trade sentiments are weighing on oil this morning. Crude oil is currently trading at $56.45, down 79 cents from Friday’s close. Fuel prices are sinking lower as well after small losses […]

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, […]

Saudi Aramco Officially Going Public

Oil prices roared higher on Friday thanks to surprisingly strong economic reports in the US and China. Today those gains continue. WTI crude oil is trading at $57.01, a gain of 80 cents (1.4%). Fuel prices are also zipping higher. Diesel is trading at $1.9568, up 2.4 cents (1.2%) from Friday’s close. Gasoline prices are […]

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 […]

Mid-Week Review – October 30, 2019

Oil markets could face oversupply in 2020, the IEA says In its latest monthly report, the Paris-based agency cut its oil demand growth figure by 100,000 barrels a day for both 2019 and 2020. Oil demand is expected grow 1.2 million barrels a day in 2020, IEA said in the report.  Click here to read […]

Trade and OPEC – What’s Suppressing Markets Today?

Oil prices fell yesterday following comments from Russia regarding future OPEC cuts. Still, positive sentiments on interest rates are buoying the market, providing a bit of support to cushion the drop. The Fed is expected to cut interest rates this week, lifting equity markets to near-record levels. Crude oil is currently trading at $54.83, down […]

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 […]

Economic Fears Rear Head Again

As traders refocus on macroeconomic fears, oil followed equities lower yesterday, extending the streak of crude oil price losses to seven days.  EIA reports of a larger-than-expected build in crude put downward pressure on markets.  WTI Crude is trading at $52.50, a loss of 14 cents. Fuel is mixed this morning.  Diesel is trading at […]

Markets Rise on Lower Output and Equity Gains

Oil prices are getting a lift this morning, a break from the five-day down streak the market has experienced since last week. Crude oil is currently trading at $54.51, up 44 cents. Fuel prices are also moving a bit higher, though the switch to November futures contracts has gasoline trading a bit lower than October […]

Lower Prices, Stronger Dollar as Traders Flock to Safety

Oil prices are trading lower this morning. Markets continue shrinking back, extending last week’s losses amid continued diplomacy in the Middle East. Crude oil this morning is trading at $55.17, down 74 cents. Fuel prices are down this morning.  Diesel is trading at $1.9224, down 1.9 cents.  Gasoline is also trading lower at $1.6338, a […]

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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