OPEC Cuts Elevate Markets

Oil prices are lower early Monday amid profit taking from last week’s gains. Crude oil is currently trading at $58.41, down 79 cents. Fuel is also down this morning.  Diesel is trading at $1.9278, a loss of 2.4 cents.  Gasoline is also lower, trading at $1.6289, down 1.9 cents. On Friday, crude prices rose following […]

OPEC Meeting, Saudi Threats

OPEC rumors and bullish inventory news are lifting the markets.  WTI Crude is trading at $58.83, a gain of 40 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9373, a gain of 1.4 cents.  Gasoline is trading at $1.6228, a gain of 1.9 cents. On Wednesday, crude prices rose more […]

Russia Against Deeper Supply Cuts

While there was a larger-than-expected build in crude stocks reported by the API, there was a draw at Cushing which seems to be putting upward pressure on prices this morning.  WTI Crude is trading at $55.66, a gain of 45 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.8743, a […]

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 […]

US Deemed a Net Oil Exporter

Crude is down on negative trade sentiment. Crude prices continue to be lower this morning following negative sentiment out of China surrounding Trump’s comment that there was no agreement on phasing out tariffs.  A Chinese government source was quoted by CNBC as saying there was “gloom” in Beijing about prospects for a trade compromise.  Crude […]

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 […]

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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