Trump Threatens Oil Tariffs

Yesterday, crude followed equities higher to start the day, but then ended lower as did equities on general pessimistic coronavirus sentiment.  Crude is trading higher this morning on the hopes that OPEC+ will come to some supply cut agreement as they meet tomorrow.  Expectations are for the largest supply cut ever agreed to by the […]

Outbreak May Evolve into Pandemic

In Asia, Europe, and the Middle East hundreds of new cases of the coronavirus, COVID-19, have been reported.  The virus has been found in about 30 countries.  In the US, the Center for Disease Control warned of the inevitable outbreak of the virus.  The organization is preparing for “severe” disruptions to daily life in the […]

China Oil Demand Down 20%

Anonymous Chinese energy officials have hinted that Chinese oil demand is down by 3 million barrels per day currently – more than ten times original estimates from Goldman Sachs. If confirmed, this loss of 20% of China’s consumption would be the most severe global demand drop since the 2008-09 Great Recession, when oil prices fell […]

Libyan Oil Disruption has Minimal Price Impacts

Over the weekend, crude prices traded higher during the Asian morning session after the Libyan National Army closed the country’s eastern oil export terminals.  Libya’s National Oil Corporation declared a force majeure on Saturday, following the loss of 800 kbpd of exports, 2/3rds of Libya’s recent production; this was a political move ahead of the […]

Iran Assessing Response to Killing

Crude is down in early trading this morning.  Crude is currently trading at $62.60, a loss of 67 cents. Fuel prices are down.  Diesel is trading at $2.0136, a loss of 2.0 cents.  Gasoline is trading at $1.7232, a loss of 3.1 cents. Yesterday markets rose as the US warned of heightened threats to energy […]

Oil Hits 8-Month High after US Kills Iranian General

Yesterday, we said that 2020 will have a hard time living up to the geopolitical drama of last year. We may have spoken too soon. Oil prices are soaring higher this morning following a US military strike on Iranian General Qasem Soleimani in Iraq last night. Crude oil prices are up by more than $2/bbl […]

Mid-Week Review – December 18, 2019

Oil settles higher for a 4th session in a row Oil futures on Tuesday posted a fourth consecutive gain, building on a rally that has lifted prices to their highest levels in three months in the wake of a “phase-one” U.S.-China trade deal.  Click here to read more from MarketWatch. US proved oil & gas […]

Fed Leaves Rates Unchanged

Oil prices are up this morning, recovering some of yesterday’s losses.  WTI Crude is trading at $58.93, a gain of 17 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9416, a gain of 1.3 cents.  Gasoline is trading at $1.6323, a gain of 0.6 cents. On Wednesday, crude prices fell […]

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 […]

OPEC Jawboning Sways Markets

Crude is down in early trading this morning.   News of deeper OPEC supply cuts seem to be offset by weak manufacturing data coming from the US.  Crude is currently trading at $55.55, a loss of 41 cents. Fuel prices are down in line with crude.  Diesel is trading at $1.8747, a loss of 1.1 cents.  […]

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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