Market Commentary

Energy prices rose again in yesterday’s trading due to concerns of a US and Iran conflict, the EIA reporting a surprise drop in US crude oil inventories for the week ending January 23rd, and the US dollar falling to a new 4-year low. US sources said President Donald Trump is […]

Front month HO had a strong up day as the cold weather drives the front month futures contract higher on heating demand. The front-month contract settled over 0.13 cents higher on the day. At one point this weekend, the market saw all-time highs of heating oil usage in New England […]

The government of Venezuela got it first payment from the sale of oil by the US government that generated $500 million dollars. Venezuela got roughly $00 million dollars of much needed money injected into their economy for the first time in months. China’s refinery throughput in 2025 rose 4.1% year […]

How can the US be getting 30 to 50 million barrels of oil in an already oversupplied market, and prices go higher? There must be more to this market outlook than Venezuelan oil, and I think it is the country itself. How can anyone know how it will be governed […]

UBS said the outlook for Venezuela remains highly uncertain with short term risk to oil production skewed to the downside. It said that over the next 12 months, it does not expect any significant impact on global oil markets balances. UBS forecast global oil demand to increase by about 1.2 […]

The U.S. intervention in Venezuela has most everyone’s attention. And of course, the main headline we’ve all seen is that Venezuela has the largest proven oil reserves in the world.  At this point, there are more questions than answers about what this all looks like moving forward. Specifically for energy, […]

The DOE inventory report released yesterday late in the afternoon. It had crude oil inventories up 410,000 barrels, gasoline inventories up 2.9 million barrels and distillates up 202,000 barrels. The builds across the board helped to pull the market back some, but prices still finished higher. Geopolitical news has dominated […]

Baker Hughes reports 409 oil rigs are in service, down from 483 at this time last year. On Friday, the energy markets were lower on an optimistic tone from President Trump and President Zelensky on their talks to move the peace agreement closer to a reality. But over the weekend […]

The energy markets will be closed on Christmas Eve and Christmas Day. The markets will resume normal hours on Friday, December 26.  That means no forward contract will be available on Wednesday and Thursday.  The energy markets are up a bit to start this short Christmas week with many traders […]

The energy markets traded lower yesterday as the peace talks between Russia and Ukraine seems to have a positive slant currently offering the bears hope for more barrels and pressuring prices lower. These bearish factors had the upper hand in yesterday’s trading and making more noise than the geopolitical concerns […]

The Fed is expected to cut interest rates at their meeting today. Is this news already baked into prices or will the market trader higher on this news. This would certainly be positive but there is still tons of uncertainty surrounding these markets and no clear path forward. The peace […]

The API inventory report yesterday said that crude oil supplies were up 2.48 million barrels, gasoline inventories were up 3.14 million barrels, and distillates were up 2.88 million barrels. The average estimates for today’s DOE inventory update from the Bloomberg survey are for crude oil supplies to decrease 1.128 million, […]