Market Commentary

The DOE report had crude stocks up 13.798 million barrels with Cushing, Ok crude stocks up 526,000 barrels. Gasoline stocks were down 11.869 million barrels and distillate stocks were down 5.504 million barrels. Crude oil stocks are well above the 3-year average high, gasoline stocks are well below the 3-year […]

The API report had crude oil supplies up 12.8 million barrels and the estimates for today’s DOE inventory report is for supplies to be up 816,000 barrels. Gasoline stocks were down 8.5 million barrels and the estimate for today’s DOE down 3.5 million barrels. Distillate were down 4.8 million barrels […]

Energy Market closed lower yesterday after the news of a missile attempt on Saudi Arabia’s largest oil facilities caused no damage and did not upset production. On this news some traders lightened their long positions and took profits. The US dollar index also traded to a three and a half […]

Crude prices rally hard at the open of Sunday night trading after the news hit of a Houthi-led missile attack on Saudi Arabia. The Houthi rebel claimed responsibility for the attack of ballistic missile and drones in Ras Tanura, the world largest oil terminal and one of Saudi Arabia’s most […]

OPEC+ surprised the market and decided not to increase its production starting next month and keep it broadly unchanged. This news sent the markets higher with crude oil rallying 5% to highs not seen in over a year. Saudi Arabia urged the group to keep their output steady and allow […]

Well the inventory report had some big numbers after the huge upset brought on by the extremely cold temperatures that shut down refineries. Crude stocks were up 21.56 million barrels putting total stocks at 484.61 million barrels and last year at this time there were  444.119 million barrels some 40 million […]

The API inventory report said that crude oil stocks rose by 7.4 million barrels. The Reuters estimates for today’s DOE inventory report are for crude stocks to be down 928,000 barrels. Gasoline stock in the API report were down 9.9 million barrels, compared with analysts’ expectations for a draw of […]

Baker Hughes had oil rigs up 4 to a total of 309 oil rigs. Last year at this time there were 678 oil rigs. Total of all rigs in North America is 565 down four on the week and compared to last year when there were 1030.  Commodities and equities responded […]

I somehow got the wrong numbers on propane inventory yesterday so let me update to the correct numbers. Propane stock were down 5.158 million barrels putting total stocks at 43.491 million barrels. Last year at this time there were 68.132 million barrels a difference of 24.641 million barrels. Midwest stocks were […]

The propane inventory report had stock down 2.986 million barrels less than expectations and putting total stocks 48.649 million barrels and last year at this time total stocks were 68.132 million barrels a difference of 19.483 million barrels. Propane has been very active and price movement crazy. There has been some […]

The API had crude up 1 million barrels and the estimates for today are for them to be down 5.2 million barrels according to the Reuters survey. API had gasoline stocks up 66,000 barrels and the estimate for today is for them to be down 3.1 million. Distillates were down […]

The API had crude up 1 million barrels and the estimates for today are for them to be down 5.2 million barrels according to the Reuters survey. API had gasoline stocks up 66,000 barrels and the estimate for today is for them to be down 3.1 million. Distillates were down […]