Market Commentary

Propane inventories were down 3.722 million barrels, putting total stocks at 51.456 million. Last year stocks were at 51.181, and the five-year rolling average is 51.326. Midwest inventories were down 1.431 million barrels putting total Midwest stocks at 11.122 million barrels and last year there were 12.553 and the five-year […]

The API inventory estimates came in as follows, crude oil down 640,000 barrels, gasoline was up 537,000, and distillates down 1.11 million. The average estimates for today’s DOE inventory update are for crude to be up 2.605 million, gasoline down 849,000 and distillates down 1.488 million. The average estimate for […]

The energy markets had another day of congestion keeping these markets all balled up. President Trump said tariffs would be placed on Canadian and Mexican goods when the deadline for a pause on such action arrives next week. The Treasury Department said the US imposed sanctions on more than 30 […]

The Baker Hughes Rig Count called the oil rigs up 7 to a total of 488 a fourth consecutive gain. Last year there were 503. Energy markets had a good sell-off on Friday as prices for crude oil traded back down near recent lows, and the last two weekly charts […]

The EIA reported that crude oil stocks in the week ending February 14th built by over 4.6 million barrels. It reported there was no crude oil additions to the SPR in the latest week for the first time since December 2023. The EIA also reported that distillate stocks fell by […]

The API inventory report had crude oil supplies up 3.34 million barrels, gasoline supplies up 2.83 million barrels, and distillate supplies down by 2.69 million barrels. The average estimate for today’s propane inventory update is for supplies to be down 3.26 million barrels. The average estimates from the Bloomberg survey […]

Ukraine launched a drone attack that damaged the Caspian Pipeline that handles crude oil from Kazakhstan. The drone attack damaged a pumping station, and the flows of crude oil are expected to be down 30 to 40% for a couple months. The estimated amount is roughly 400,000 bpd. Crude prices […]

The energy markets were closed yesterday, and it was a very quiet day. There was not a lot of new energy news.  These markets are still stuck until an event or major announcement comes out. I am not a very good bear as my bias leans toward what could potentially […]

The energy markets are closed today for President’s Day, so no forward contacts are available today. Baker Hughes reported that oil rigs were up 1 to a total of 481 and last year there were 497 oil rigs in operation. Treasury Secretary Scott Bessent said the US aims to squeeze […]

According to ship tracking data compiled by Bloomberg, about 60% of 94 of the active tankers blacklisted by the Biden administration last month for their involvement in the Russian oil trade have stopped transporting oil for Russia or anyone else. While there are no signs, yet that Russian’s output has […]

The EIA reported a draw of 2.571 million barrels to propane inventories. Total inventories are at 58.858 million and last year they were 56.900. Midwest stocks were down 1.062 million to 13.906 million total barrels and last year they were 14.314. Gulf Coast inventories were down 560,000 to a total […]

The API inventory report called crude oil stocks up 9.043 million barrels, gasoline supplies down 2.507 million and distillates down 590,000. The average estimates from the Bloomberg survey from today’s DOE inventory update are calling crude oil up 2.516 million barrels, gasoline up 545,000 and distillates down 1.478 million. The […]