US-China Trade Deal – Making Progress Despite Shortcomings

On Tuesday, WTI crude closed higher ahead of Hurricane Laura making landfall in Texas and Louisiana tomorrow morning. Crude is relatively unchanged this morning as the hurricane’s effects seem to have been largely priced into the market. The Phase One trade deal between the US and China is moving forward as planned. On a phone […]

Mid-Week Review – August 26, 2020

Laura Looms: Gulf Coast Oil Refineries Brace for Cat 3 Hurricane Hurricane Laura is set on a collision course with America’s refinery row. Forecast to grow into a Category 3 storm before landfall early Thursday morning, Laura will strike near the border of Texas and Louisiana. The nation’s biggest refinery, Saudi Aramco’s 600,000 bpd plant […]

Tropical Storm Isaias Eyes the Northeast

Yesterday, WTI crude closed higher on better than expected manufacturing data coming from Asia, Europe, and the US. The data would seem to indicate that the worst of the impact from the pandemic is behind us. Crude is continuing to trend higher this morning as it rallies from earlier lows. Isaias made landfall as a […]

Trump States US-China Trade Deal “Fully Intact”

Yesterday, WTI crude was up 2% on tighter crude supplies from major producers. In addition, coronavirus lockdowns kept easing despite a record rise in cases globally. WTI settled at $40.73/bbl, rising 90 cents (2.2%). Crude prices are up in early trading this morning as White House officials clarified a previously confusing statement saying that the […]

News Out of Asia Putting Downward Pressure on Markets

On Thursday, WTI Crude finished higher even in the face of relatively bearish EIA inventory news.  This week will mark the first week of losses with the previous four consecutive weeks of gains in crude.  Even with this week’s losses, the month of May is on track to finish with over 70% in monthly gains. […]

Week in Review – May 29, 2020

WTI crude started the short week on Tuesday, trading at levels not seen since early March.  Comments from the IEA’s executive director were bullish on demand returning to pre-crisis levels and higher. Souring the rally as the week progressed was OPEC+ news from Russia regarding tapering off production cuts in July.  While the original OPEC+ […]

Mid-Week Review – January 15, 2020

The Oil and Gas Situation: In the Midst of a Major Global Boom Forty years ago, the conventional wisdom about oil was that we were running out of it and needed to find ways to conserve. Twenty years ago, it was faddish for people in the oil business to talk about the then-assumed fact that […]

Lack of Trade Deal Progress Weighs on Markets

A lack of progress in getting a trade deal done is putting downward pressure on prices this morning.  WTI Crude is trading at $56.43, a loss of 37 cents. Fuel is down this morning.  Diesel is trading at $1.8718, a loss of 2.6 cents.  Gasoline is trading at $1.6075, a loss of 0.7 cents. On […]

Trade Deal Progress Dims

After rising to the highest point since September yesterday, crude markets retreated while retaining 80-cent gains. Today, those gains have been shed. Crude oil is currently trading at $56.17, down 98 cents (1.7%) from Thursday’s close. Fuel prices are down as well, with diesel leading the complex lower.  Diesel prices are trading at $1.8795 this […]

Trade Optimism from China Overshadows Bearish Inventory News

Positive trade news out of China late yesterday is driving markets higher this morning.  WTI Crude is trading at $57.30, a gain of 95 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9439, a gain of 1.6 cents.  Gasoline is trading at $1.6394, a gain of 1.3 cents. On Wednesday, […]

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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