Market Commentary

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 […]

The Baker Hughes Rig Count had oil rigs down 2 to a total of 484 oil rigs. Last year at this time there were 506 oil rigs in operation. Energy prices are a bit higher this morning on the reaction to the threat by Presentient Trump of additional sanctions on […]

President Trump is said to be considering extending Chevron’s license to continue production in Venezuela. It is a key source of heavy sour crude oil for the US Gulf Coast. The US Treasury Department issued a new Iran related sanctions, targeting one individual, vessels, and several entities, including a Chinese […]

The API called crude stocks up 4.59 million barrels, gasoline stocks were down 1.71 million barrels, and distillates were down 2.15 million barrels. HSB expects the oil markets to be in surplus in 2025 and 2026 due to strong supply and sluggish demand growth. The bank said it expects a […]

Crude oil prices traded higher yesterday on the news over the weekend that the US launched missile strikes against Iran backed Houthi rebels in Yemen, which is raising the possibility of oil supply disruptions in the Middle East. Also supportive of prices was optimism of additional stimulus in China after […]