OPEC+ Meeting Delayed Due to Disagreements

Crude closed down slightly yesterday. It is continuing to lose ground in early trading this morning. Pessimistic news coming out of the OPEC+ meeting is putting downward pressure on the market. The OPEC+ meeting scheduled for today has been pushed back to Thursday due to disagreements among members regarding continuing supply cuts next month. OPEC+ […]

Vaccine Rally Levels Off as Infections Rise

WTI crude closed slightly higher yesterday on the hopes of OPEC+ balancing the market and the continuation of the rally from coronavirus vaccine news. This morning, however, the market is feeling downward pressure from mounting coronavirus infections and deaths and rumors of the UAE considering leaving OPEC. The US has surpassed a grim milestone of […]

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 […]

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 […]

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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