Market Commentary

Energy prices were down yesterday on weak economic manufacturing data from China. The ongoing threat of tariffs from President Trump also keeps the market uneasy. China is saying that several of its independent refineries are shutting down for an uncertain amount of time as the economics are not favorable currently, […]

Energy markets are closed today and there are no forward contracts available today. The energy markets have continued to push higher on the bullish narratives of more sanctions on Russia tightening up supplies, China stimulus measures helping their economy improve and with its energy demand, a better outlook for the […]

Well, the market jumped up as it began today’s trading. As I write this HO is up .1018, Gas up .0596 and crude oil up 3.04. The market needed some bullish news to give it a shove to the upside and they are now saying more sanctions are coming in […]

Crude oil and gasoline prices rose significantly in the early morning trading hours but fell later in the day and closed slightly lower. ULSD price closed at the highest level since October 7 due to a winter storm in the US increasing heating oil demand which is part of the […]

Crude oil prices are up this morning on the news that Saudi Arabia raised prices for Asian buyers next month. This could be an indication that Saudi Arabia the world largest exporter sees tighter supplies in its largest market. This situation is helped by OPEC+ continuing to stick with production […]

The energy markets continue to be thinly traded with limited traders working and this will be the case next week as well as Wednesday will be the New Year’s Holiday and no markets that day. There will also be no contracts available on Wednesday of next week. Donald Trump has […]

Crude oil price rose on December 24 driven by increased China stimulus to support higher oil demand and market surveys expecting a drop in total US crude oil stocks by 3.2 million barrels and US distillate stocks expected to fall by 2.5 million barrels for the week ending December 20th. […]

The energy markets pulled back into their trading range yesterday mostly on the comments from Federal Reserve Chairman Jerome Powell. Powell was out trying to walk back some of the talk about rate cuts and said that stubborn inflation would make the Fed more cautious. Just a couple of weeks […]

The average estimates for the DOE inventory report today from the Bloomberg survey are crude oil down 1.596 million, gasoline up 1.256 million and distillates up 683,000. The API inventory update called crude stocks down 4.7 million barrels, gasoline up 2.4, and distillates up 700,000. The market sold off yesterday […]

The markets have entered the holiday season with limited traders and light volumes. Yesterday was a quiet day, and as this week wears on, the activity will slow down. Then it will get worse as we go through a short trading week next week with Christmas right in the middle […]

The bulls had a nice day yesterday, and prices rebounded, but the question remains: have the bulls done enough? The answer so far is no, but the resistance levels that, if broken, would open a more bullish outlook in the longer term are close. But this could also be an […]

The DOE inventory report had crude oil inventories down 1.43 million barrels putting total US crude oil stocks at 421.950 million barrels. Last year at this time stocks were at 440.773 and the three-year average is 431.063. Current inventory levels put crude at the lower end of the three-year range. […]