Market Commentary

Energy prices were off about 7% yesterday in a huge sell-off across the board. The main drivers were China locking down Shanghai to stop the spread of a COVID outbreak. Shanghai has a population of 26 million people, and the shutdown is estimated to potentially lower oil consumption by 800,000 […]

Crude oil and refined fuel product price rose on Friday, except for the nearby ULSD contract. On Friday morning prices were down with the European Union holding off on banning Russian energy imports with Germany opposed, as they rely on Russian energy for a large part of their needs. Prices […]

Oil exports via the Caspian Pipeline Consortium pipeline will partially resume oil loadings from its Black Sea terminal on Thursday after successful inspection of single port mooring. Prices are off this morning as another release of oil barrels from the global reserve is being considered. US Energy Secretary, Jennifer, Granholm, […]

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 […]