Market Commentary

Morningstar analysts believe the oil market has priced in a “higher probability of US intervention than political pundits,” per WSJ coverage. Despite the analysts at Morningstar thinking a limited strike on Iran’s military or nuclear sites is likely, impact to global oil flows are unlikely. Morningstar is holding a midcycle […]

The propane inventory report had supplies down 3.084 million barrels, which was less than expected. Total supplies now sit at 74.185 million barrels, 6 million barrels higher than the previous high for this week of the year all time. Midwest supplies were down 528,888 barrels putting total Midwest stocks 15.174 […]

The average estimate for today’s DOE inventory report from the Bloomberg survey are crude oil up 298,000 barrels, gasoline down 1.221 million barrels and distillate down 1.914 million barrels. The API inventory report called crude oil down 609,000 barrels, gasoline down 312,000, and distillates down 1.57 million barrels. The headlines […]

The energy market pulled back after Iranian Foreign Minister, Abbas Araqchi, said Iran and he US reached an understanding on the main “guiding principles” in a second round of nuclear talks in Geneva. Work still needs to be done, and this doesn’t mean an agreement is on the way, there […]

The energy markets are stuck in congestion trying to figure out what will be the next shoe to drop. Crude traded in a dollar range yesterday. There is currently no conviction and that showed up in the volume of trade which was on the light side yesterday. The API inventory […]

Crude oil is trading sideway this morning after a quiet week last week that saw the Iran and US talks put some softness in prices as tensions eased. Iran has supposedly refused to end enrichment of nuclear fuel but emphasized their willingness to negotiate and prevent a US military strike.  […]

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, […]