Market Commentary

Well, we got a one-day reprieve. The energy market was down hard yesterday but managed to hold above several key support levels. News that peace talks were making progress dominated the headlines, and the market sold off sharply in response. The timing was convenient, as the news hit the wires […]

The energy markets are down in hopes for peace. Qatar and Iran are discussing ways of ending the war between the US and Iran and that has traders selling of these markets. Traders will be watching for any kind of US response to this news but there is still an […]

The latest U.S. Department of Energy (DOE) inventory report showed crude oil supplies down 1.89 million barrels, gasoline inventories up 3.87 million barrels and distillate inventories down 1.46 million barrels. Total crude oil inventories stand at 410.625 million barrels, compared with 415.966 million barrels at this time last year and […]

The headlines are mixed today on both bullish and bearish news, and this has created big market swings. Bearish headlines hit the wire and prices selloff then later a bullish news item comes out and prices rally back. The last few days have seen big trading ranges and then the […]

The API inventory reported crude oil inventories down 11.1 million barrels, gasoline inventories up 1.1 million, and distillates down 1.5 million. Ukrainian President Volodymyr Zelensky said Ukraine has resumed its attacks on Russia’s oil refineries. He said Russia had continued to strike Ukriane’s energy grid even after agreeing to end […]

Goldman Sachs estimates that Brent crude’s risk premium reached $22 per barrel in September, the second-highest monthly level on record. The bank noted that the peak monthly estimate following the outbreak of the Russia-Ukraine war in 2022 “did not exceed $16 per barrel,” according to WSJ Market Talk. President Trump […]

The API inventory report showed crude oil supplies down 2.09 million barrels, gasoline supplies down 1.37 million barrels and distillate supplies up 461,000 barrels. The average estimates for today’s DOE inventory report, according to the Bloomberg survey, are for crude oil supplies to increase 1.802 million barrels, gasoline supplies to […]

The DOE inventory report showed crude oil inventories down 920,000 barrels, gasoline supplies down 1.68 million barrels and distillate inventories down 2.25 million barrels. Total U.S. crude oil inventories are now 427.320 million barrels, compared with 416.546 million a year ago and a three-year average of 415.847 million. Total gasoline […]

In the latest effort to bring diesel prices down, the White House is considering regulatory relief that would allow broader sales of red-dyed diesel. The move could allow some buyers to avoid the federal diesel tax. President Trump has supported a ban on diesel exports, but the proposal has faced […]

A US official said about 60 commercial vessels transited the Strait of Hormuz on Wednesday carrying the highest daily volume of crude oil since early July. The official said about 40 of those vessels coordinated with the US military for protection. A total of about 22 million barrels of oil […]

The possibility of a diesel export ban concerns me. I’m worried if something does get implemented it will get messed up and have a wider negative impact as the attempt is to bring down diesel prices. It is estimated that in roughly two weeks an export ban would fill up […]

The energy markets continue to feel selling pressure as the current news offers some optimism and or hope for progress on peace. Crude fell for the fourth straight session to its lowest level in 12 days, as Hormuz traffic hit a six-month high, and the workaround barrels are moving. All […]