Market Commentary

The energy markets have taken all the risk premium out of the market and are now searching for direction as there is still a lot of uncertainty. OPEC+ is scheduled to meet again on July 6th to discuss August production, and the market is expecting them to offer another production […]

The DOE inventory report called crude oil stocks down 5.84 million barrels, putting total stocks at 415.11 million barrels and last year there were 460.696 and the 3-year average is 443.317. Gasoline supplies were down 2.08 million barrels, putting total stocks at 227.938 and last year there were 233.886 and […]

If someone told you Israel and Iran were at war, what would you guess the price of crude oil to be?  In the past, the predictions were $100 per barrel, $120, or even $200. I know that energy markets have gone up in the last week, but nothing like we […]

There are no energy markets on Thursday, June 19. It is a Federal holiday, and the markets are not open, so there are no forward contracts available that day. No Contract June 19, 2025. Crude oil prices were up big again yesterday as the Israeli and Iranian conflict continues to […]

The Baker Hughes Rig Count called oil rigs down 3 to a total of 439 oil rigs in operation. Last year at this time there were 488 oil rigs in operation. Energy prices had a big rally on Friday as the news of Israel attacking Iran was the hot news […]

Israel launched a wide-ranging attack against Iran in which it targeted the country’s nuclear program and military leadership. Energy sites and infrastructure were not targeted as of yet. Reports indicate that Iran had an initial retaliation on Friday morning, launching 100 drones toward Israel. Of course, all this has rallied […]

Energy prices had a strong up day due to optimism about the China and US trade talks. Crude oil and the refined products are all testing their 100- and 200-day moving averages and if they can get a settlement over those levels, it could lead to more fund buying. The […]

API reports crude oil stocks are down 370,000 barrels, gasoline stocks is up 3 million barrels, and distillate stocks are up 3.7 million barrels. The average estimates for today’s DOE inventory update from the Bloomberg survey are for crude stocks to be down 2.269 million barrels, gasoline up 672,000 barrels, […]

Crude and Refined product prices rose yesterday about 1% mainly on the drop in the US dollar index and the potential for a longer-term trad deal between the US and China after a meeting held in London. These talks spurred some optimism and helped support prices here in the near […]

The Baker Hughes Rig Count called oil rigs down 9 to a total of 442 and last year at this time there were 492 oil rigs in operation. Oil rigs are at a three-year low. Reuters reported that China’s export growth slowed to a three-month low in May as US […]

The DOE inventory report had crude oil stocks down a big 4.30 million barrels, gasoline stocks were up 5.22 million barrels and distillates were up 4.23 million barrels. US crude production continues to hold steady at 13.408 million barrels per day. Total crude oil stocks are now at 436.059 million […]

The Baker Hughes Rig Count had oil rigs down 8 rigs to a total of 465 and last year oil rigs were at 497. Energy markets on Friday were very uneventful with prices just trading in a range. These energy markets continue to be confronted with multiple issues that may […]