Market Commentary

The DOE inventory report from the government called crude oil stocks down a big 7.195 million barrels and the crude stocks at Cushing, Ok were down 263,000 barrels. The big draw continues to support crude oil above the critical...

Crude oil and refined fuel product prices rose yesterday, mainly driven by signs of recovery in world economies and consumption. The oil rig count in the United States is very low and U.S. shale production keeps falling. Keeping prices...

The Baker Hughes rig count was down one oil rig on Friday. The total number of rigs looking for crude oil now stands at 188, down from 793 at this time last year. Bearish Signals The Labor Department reported...

Occidental Petroleum is preparing to write down up to $9 billion of its oil and gas properties this quarter. The move will allow Occidental Petroleum to restructure its debt and avoid default. The purchase of Anadarko Petroleum required Occidental...

The energy market is juggling information about declining supplies and rising COVID-19 cases. Traders are trying to decipher how do these issues will play out and the outlook for energy supply and demand. Mercuria’s Chief Executive, Marco Dunand, sees...

Crude oil and refined fuel product prices closed lower yesterday after hitting the highest point since March 6.  Prices are under pressure this morning as trade tension put some uncertainty into the recovery of the global economy. Trade issues...

The outlook remains positive and there’s data that continues to keep energy prices on track to move higher. The reports I’m seeing show supplies are tightening, but I still struggle with the numbers that show a glut of stocks...

Baker Hughes reports oil rig counts are down 10, putting total oil rigs at 189. That’s 600 fewer than last year for this reporting week. The news on the energy front was quiet over the weekend and remains so...

Reports of COVID-19 rebounding in some states and countries hasn’t been enough to derail a bounce back in fuel demand. As countries and states emerge from lockdowns, demand is good and optimism abounds. Equities continue to trade higher and...

The propane inventory report showed that total stocks of propane were up 2.685 million barrels. The Midwest stocks were up 408,000 barrels with total Midwest stocks at 16.356 million barrels and last year at this time there were 19.113...