Market Commentary

The DOE inventory report said that crude oil inventories are down 2.51 million barrels and the crude stockpiles at Cushing, Okla., are up 1.235 million barrels. Gasoline inventories are down 2.95 million barrels, and distillates were down 2.07 million barrels.  Total crude stocks are now 413.399 million, and last year […]

Energy markets had had a decent trading range in yesterday’s trading as the market congested yesterday as it continues to try and stay on pace with the headlines. The news on Russia and Ukraine continues to move the market. There is also the underlying tone of short supplies for energy. […]

Federal Reserve Chair Jerome Powell said on Monday that inflation is too high and that there was an obvious need to return momentary policy to a more neutral level. Powell hinted at a .5% rate hike at the Fed’s next meeting in May. Raising interest rates is normally bullish for […]

The European Union members are meeting today and an embargo on Russian energy is one of the topics. This news has the energy markets up again in early trading. Also supporting the upside is the news of an attack on a Saudi Arabian oil facility. With all the concerns around […]

Energy prices rallied and closed significantly higher in yesterday’s trading. This was after the market pulled back more than 20% and entered into a bear market. The volatility and daily price moves continue to be big. The main driver of the rally yesterday was Russia denying peace talks with Ukraine […]

WTI oil prices have retreated to below $100 dollars per barrel, having lost more than $30 dollars in a little more than one week. Prices have officially entered a bear market after reaching 14-year highs. A bear market is when prices fall by 20% within a short time frame after […]

The energy market continues to get sold off hard in the same fashion as it rallied to new 14-year highs.  The market got an extreme push to the upside on the fears of not enough oil, and the market now appears to be getting an extreme push to the downside, […]

The United States and Iran nuclear talks, which many expected would get something done this week, are on hold as Russia puts new demands on the deal. There has been no progress in the negotiations between Russia and Ukraine to end the current conflict. Since Russia invaded Ukraine, the daily […]

The API inventory report called crude oil stocks up 2.8 million barrels, gasoline stocks were down 2.0 million barrels and distillates stocks were down 5.5 million barrels. The energy markets were nuts again on Tuesday as ULSD futures were up 50 cents per gallon as the US banned Russian energy […]

The super rally continues as US lawmakers announce the outline of bipartisan legislation to ban imports of Russian oil. Russia countered and said if the US does ban imports, it will cut gas supplies to Europe. This news has pushed ULSD NYMEX Futures up 38 cents as of this writing […]

The market jumped much higher when it opened Sunday night. The main reason is all the talk about banning Russian energy export or purchases. This news is the main driver today as the potential loss of these barrels has buyers of oil scrambling. The US sent a contingent to Venezuela […]

The energy markets are higher again to start out this Friday as traders worry about the loss of Russian supplies. The West continues to consider banning Russian supplies or suspending purchases but either way the loss of those barrels will be tough to replace quickly. There are reports that buying […]