Market Commentary

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 […]

Crude oil prices closed higher yesterday driven mainly by the new US sanctions against Iran’s crude oil exports and news that Russia’s Federal Antimonopoly Service may initiate a 1-month ban on gasoline exports by large producers to stabilize wholesale prices ahead of the crop-sowing season. The tighter Russian supplies helped […]

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 […]