Market Commentary

As we move closer to the Easter Holiday and a short work week for many, trading has been seeing less volume. With a lot of uncertainty surrounding the markets, sometimes the best strategy is to do nothing, and it appears many traders have taken off for a long holiday weekend. Energy markets […]

Exploration and production companies have already reacted to the lower crude prices as we saw yesterday with fracking crews down 10, dropping from 205 to 195. Several firms have said they will focus on drilled but uncompleted wells during this lower-price environment to conserve cash. Goldman Sachs is predicting recessionary […]

Baker Hughes had oil rigs down 9 to a total of 480 and last year at this time there were 506 oil rigs in operation. This is understandable with a roughly 10 dollar per barrel decline in prices. Completion crews also took a big hit this week down 10 and […]

The energy markets pulled back off the highs from yesterday’s rally on the 90-day pause of tariffs. These last few days are a reminder of how volatile these markets can be and how quickly many are willing to call a bottom in the market. It also gets complicated by the […]

The DOE inventory report had crude oil inventories up 2.55 million barrels, gasoline inventories down 1.60 million barrels, and distillates down 3.54 million barrels. The propane inventory report had propane inventories up 1.510 million barrels to a total of 45.651. Midwest inventories were up 149,000 barrels and Gulf Coast inventories […]

The API reported that crude oil stocks were down 1.1 million barrels, gasoline up 210,000, distillates down 1.8 million barrels. The estimates for today’s DOE inventory report are crude to be up 1.421 million barrels, gasoline with a draw of 1.513 million and distillates with a build of 264,000. The […]

Energy prices closed down in yesterday’s trading by 2.1%in a very volatile day. In the morning trading hours around 10:10 am EST oil prices rose sharply by about 3% after news reports that President Trump was considering a 90-day pause to tariffs, except on China. However, the White House quickly […]

US equities closed their worst week since 2020 on Friday, as China announced retaliatory tariffs on the US, leading to concerns about a global economic slowdown. Crude oil prices continue to decline on worries about a recession and slow global demand with concerns about a trade war between the US […]

Tariffs and more production from OPEC+ sank energy prices yesterday. The news of these two events throws a ton of uncertainty into these market. These markets are likely to react to headlines related to these two items for the next several days. Today, being Friday, we might see a bit […]

The energy markets are down big to start out today, and we are seeing the market’sto first initial reaction to tariffs and OPEC+ news. It will take a few days to see how all this shakes out. President Trump revealed his tariff increases and the thought is that these are […]

Crude oil prices were down slightly but refined product prices were up in yesterday’s trading. The fall in prices is mainly driven by uncertainty as the US tariffs planned to be announced today. Canadian oil (10%) and Mexican oil (25%) imports are expected to be less and cause supply to […]

Energy prices had a strong up day yesterday as the market was worried that supplies could decline if President Trump follows through on threats to impose more sanctions on Russia and Iran or even military action against Iran if they do not stop their nuclear program. China’s manufacturing expanded at […]