Market Commentary
President Trump Tweets at OPEC
March 29, 2019
The energy market has a very strong selloff in early trading yesterday. The reason is possibly two fold but the main driver that is getting attention is a tweet. President Trump again tweeted at OPEC that prices were getting too high. The President’s Tweet: “Very Important that OPEC increase the […]
China’s Exports Dropped 20% in February
March 8, 2019
China’s exports dropped 20.7% in February as seasonal factory shutdowns and continued uncertainty from the trade war combined to drag on shipments, adding to concerns over a weakening global economy. German factor orders dropped 2.6% in January, where a gain had been expected, with the fall caused by weak demand […]
Building crude stocks leave the market mixed
March 7, 2019
The DOE inventory report said that crude oil stocks were up a big 7.069 million barrels. Cushing, Ok crude oil stocks were up 873,000 barrels. Gasoline stocks were down 4.227 million barrels and distillate stocks were down 2.393 million barrels. Refinery Runs were up 0.4% to 87.5% of capacity. The […]
API Reports a Big Increase in Crude Stocks
March 6, 2019
The API reported a big increase in crude oil stocks of 7.3 million barrels. The market is expecting the DOE report today to show a 1.2 million barrel increase. Gasoline stocks were down 391,000 barrels and the outlook for today’s report is a decline of 2.01 million barrels. Distillate stocks […]
EPA Advances Proposal for Year-Round E15 Sales
March 5, 2019
White House economic adviser, Kevin Hassett, said that US Trade Representative, Robert Lighthizer, has made progress in talks with China and a deal was possible to end a dispute that has already put tariffs on hundreds of billions of dollars’ worth of goods. The Wall Street Journal reported that US […]