Week in Review

For the week, the Crude Market was relatively flat overall with some peaks and valleys mid-week.  The week started out up with positive news about China trade talks.  In addition, Iran’s seizure of a British tanker helped to move the market up on Monday.

Mid-week spike in prices were influenced by an 11 MMbbls draw on crude inventory, but even this large draw could not overcome news about easing Iran tensions which caused the markets to revert lower.

Prices in Review

WTI Crude opened the week at $56.22.  Conflicting factors of a large draw on inventory and easing Iran tensions helped to keep the market relatively flat for the week.  Crude opened Friday at $55.93, a loss of 29 cents (-0.5%).

Diesel opened the week at $1.9001. Diesel generally followed crude for the week.  Diesel opened Friday at $1.9070, up fractionally, 0.7 cents (0.4%).

Gasoline opened the week at $1.8530.  It had a small draw instead of an expected moderate build which helped buoy prices.  Gasoline opened Friday at $1.8803, a gain of 2.7 cents (1.5%).

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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