Market Commentary
US-China Expected to Sign Trade Pact Today
January 15, 2020
The inventory report put out by the API said that crude oil stocks were up 1.1 million barrels and the crude stocks at Cushing, Ok were down 69,000 barrels. Gasoline stocks were up 3.2 million barrels and distillate stocks were up 6.8 million barrels . The average estimates from the […]
Tensions Ease in the Middle East
January 14, 2020
Crude oil and refined fuel product prices traded lower yesterday, and it was mainly driven by easing tension in the Middle East and lower seasonal gasoline demand following last week’s big jump in gasoline stocks of 9.1 million barrels. That big build to inventory was the largest weekly build reported […]
Iran Mistakenly Shot Down Ukranian Passenger Jet
January 13, 2020
Iran has now admitted that it mistakenly shot down the Ukrainian passenger jet carrying 176 people. As a result, the country has seen protest again from its people. The United States and China are set to sign the initial “Phase 1 “ trade agreement this week here in the US. […]
Western Powers Believe Iran Shot Down Passenger Jet
January 10, 2020
Crude oil and refined fuel products prices fell slightly yesterday except RBOB which rose by 0.2% for the nearby futures month. Prices fell dramatically on Wednesday after the government report showing massive rise in total United States gasoline, crude oil, and distillates stocks. Also pushing prices lower were United States […]
Goldman Sachs: Oil Rally Unsustainable Without Actual Disruption
January 9, 2020
The DOE inventory report showed that crude oil stocks were up 1.1164 million barrels. Gasoline stock were up 9.137 million barrels and distillates were up 5.33 million barrels. The crude oil stocks at Cushing, Oklahoma were down 821,000 barrels. The builds on crude, gasoline and diesel that were bigger than […]
Iranian Missile Launch Hits U.S. Bases
January 8, 2020
The news again for today is again all about the US and Iran. Last night around 6 PM CST the new broke that Iran had launched more than a dozen ballistic missile against multiple bases housing US military troops in Iraq. As the new of this attack broke energy price […]
Market Eases Off Recent Highs
January 7, 2020
The market continues to ease back off the recent highs as it appears that traders are taking profits as the market continues to watch the news for updates related to potential retaliation from Iran. The speculations and opinions are all across the board on what might happen an until something […]
Iran Promises Revenge Against United States
January 6, 2020
On Friday the market got the Baker Hughes rig count and it showed that US crude oil rigs were down 7 and in Canada oil rigs were down 25. The outlook for US shale has been for rigs to decline as US shale companies try to generate better returns for […]
U.S. Airstrike Kills Iranian General, Stokes Tension
January 3, 2020
The news of today is that overnight the US carrier out an air strike in Baghdad and Qassem Soleimani, one of Iran’s most powerful generals who lead proxy militias that extend the country’s power across the Middle East, was killed in this air strike. Iran’s supreme Ayatollah Ali Khamenei vowed […]