Market Commentary

These are very interesting times as Wednesday some energy market put in 18 year lows and crude oil has been down over 50% this month and then Thursday a huge rally back to the upside to establish the best day every for energy. In two days, that show the extremes […]

The DOE inventory report called crude oil stocks up 1.954 million barrels and the crude stocks at Cushing, Ok were up 563,000 barrels. Gasoline stocks are down 6.18 million barrels and distillates were down 2.94 million barrels. Refinery runs were unchanged at 86.4% and this number will go down in […]

Crude  oil prices fell to new 4 year lows in yesterday’s trading but RBOB gasoline futures price rose by 3.1 % mainly due to the massive drop the prior day of 23%. RBOB price has been substantially sold off as last week price fell by 35%. The main driver pushing […]

The impact of the current situation has finally shown up in the Baker Hughes Rig Count as Friday’s report showed 40 wells were taken offline – dropping the total to 642 – the fastest weekly decline since April of 2015. Market watchers say that the drop two weeks ago of […]

The OPEC and non-OPEC technical meeting planned for today in Vienna has been called off. The IEA and OPEC said in a rare joint statement that developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions […]

Things in this world are continuing to get very interesting and all of us are dealing with some unprecedented time in my opinion. The Federal Reserve in a very surprising announcement on a Sunday took emergency action and cut the benchmark interest rate another 100 basis points to bring it […]

Yesterday was a very big down day in the energy markets as the spread of the coronavirus caused many closures that are unprecedented. Every major sporting event or league in the world either canceled or suspended all activities for the rest of the season or until further notice. The big […]

Today the news is again bad as the coronavirus concerns are reaching new levels. As organization cancel meetings, the NCAA says games will be played with no fans, company’s ban travel for employees unless absolutely critical, and some university go to online classes only these actions have caused another round […]

President Donald Trump spoke with Saudi Arabia’s Crown Price Mohammed bin Salman on Monday to discuss global energy market , among other issues. The US Department of Energy reported that it has suspended a sale of up to 12 million barrels of oil from the Strategic Petroleum Reserve due to […]

Yesterday saw most all markets take massive losses and energy was no exception with crude oil down 20% the biggest one day down since 1991. This was all the reaction to the fear surrounding the coronavirus and Saudi Arabia saying they would increase production after the OPEC+ group couldn’t come […]

The price war is on and it didn’t take long for the energy markets to feel the pain. Russia’s noncooperation with OPEC has not set well with Saudi Arabia and the Kingdom went on the aggressive to gain market share and wreck the market. Saudi Arabia offered Asian and European […]

The news for today is pretty much the same two things that the market has been watching for a while now; coronavirus and OPEC+. The market is down hard again today as it seems Russia is still not on board with the OPEC cuts. This news has seen energy prices […]