Week in Review – November 22, 2019

The crude market was up for the week.  The market was down to start the week as it dealt with pessimistic trade news.  In addition, Russia had announced it was against deeper supply cuts.  The oil complex seemed to ignore any bearish news to end the week and it surged higher on even the slightest […]

Beyond the Rumor Mill

Tired of the oil market rumor mill? Heard too much about China and OPEC? We feel you. Oil prices have been balanced within the $50-$60 range for months now, constantly driven one way or another by speculation regarding US-China trade and OPEC production targets. Nearly every headline on both issues become irrelevant within a week […]

Trade Prospects Improve, California Power Outage

Oil prices are trading flat this morning after impressive gains to end last week. Oil prices saw the largest leap since the Saudi oil attack in September, demonstrating the power of positive trade news and low inventory concerns. Crude oil is currently trading at $56.64, unchanged from Friday’s close. Fuel prices are also mixed/flat. Diesel […]

US Extends Chevron Waivers in Venezuela

Yesterday brought yet another day closing within a dollar of $53/bbl, the fourth consecutive close in this range. Thought markets dipped lower yesterday, they are rising once again today. Crude oil is currently trading at $54.53, a gain of $1.22. Fuel is also trading higher this morning. Diesel is trading at $1.9637, up 2.3 cents.  […]

Markets Await Oil Reports, Trump Re-Affirms Biofuel Support

Prices eked out small gains on Friday, halting the 8-day down streak, though barely.  Over the weekend, sentiments shifted to a more positive outlook on the economy given US-China trade talks resuming and a possible rate cut from the Federal Reserve. This morning crude oil is trading at $53.53, up 72 cents (1.4%) from Friday’s […]

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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