Week in Review – October 25, 2019

The Crude Market was up for the week.  The week started with positive comments from China regarding trade talks which helped to lift the market.  However, by mid-week, inventory news was the major headline driving markets.

On Wednesday, the EIA reported a surprise crude draw of 1.7 MMbbls versus expectations of a crude build of 2.2 MMbbls.  Traders were happy to latch on to the bullish news and drove markets higher to close out the week.

Prices in Review

WTI Crude opened the week at $53.71. It tracked higher through the week.  Crude opened Friday at $56.07, a gain of $2.36 (4.4%).

Diesel opened the week at $1.9438.  It generally followed crude through the week.  Diesel opened Friday at $1.9838, a gain of 4.0 cents (2.1%).

Gasoline opened the week at $1.6159.  It followed crude through out the week.  Gasoline opened Friday at $1.6595, a gain of 4.4 cents (2.7%).

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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