Market Commentary

Iran has now admitted that it mistakenly shot down the Ukrainian passenger jet carrying 176 people.  As a result, the country has seen protest again from its people. The United States and China are set to sign the initial “Phase 1 “ trade agreement this week here in the US. […]

Crude oil and refined fuel products prices fell slightly yesterday except RBOB which rose by 0.2% for the nearby futures month. Prices fell dramatically on Wednesday after the government report showing massive rise in total United States gasoline, crude oil, and distillates stocks. Also pushing prices lower were United States […]

The DOE inventory report showed that crude oil stocks were up 1.1164 million barrels. Gasoline stock were up 9.137 million barrels and distillates were up 5.33 million barrels. The crude oil stocks at Cushing, Oklahoma were down 821,000 barrels. The builds on crude, gasoline and diesel that were bigger than […]

The news again for today is again all about the US and Iran. Last night around 6 PM CST the new broke that Iran had launched more than a dozen ballistic missile against multiple bases housing US military troops in Iraq. As the new of this attack broke energy price […]

The market continues to ease back off the recent highs as it appears that traders are taking profits as the market continues to watch the news for updates related to potential retaliation from Iran. The speculations and opinions are all across the board on what might happen an until something […]

On Friday the market got the Baker Hughes rig count and it showed that US crude oil rigs were down 7 and in Canada oil rigs were down 25. The outlook for US shale has been for rigs to decline as US shale companies try to generate better returns for […]

The news of today is that overnight the US carrier out an air strike in Baghdad and Qassem Soleimani, one of Iran’s most powerful generals who lead proxy militias that extend the country’s power across the Middle East, was killed in this air strike. Iran’s supreme Ayatollah Ali Khamenei vowed […]

Crude oil and refine fuels products prices closed slightly lower yesterday, except for Brent crude oil which closed slightly higher for the February contract which expired yesterday. The market continues to look for direction as the trading volume is very low due to the Holiday week. Traders are more concerned […]

The inventory reports were delayed until Friday of last week due to the holidays. Propane stocks were down 2.562 million barrels putting total stock at 88.398 million barrels. The expectation was for a decline of 1.4 million barrels so a bigger draw but still not overall concerning about low supplies. […]

The optimism over China and the US continues to push this rally in the markets. President Trump stated the he and Chinese President Xi will have a signing ceremony for the Phase 1 China/US trade deal in early January. The idea of a signed deal further increases the positive outlook […]

The inventory report from the API was released on Christmas Eve and it called crude oil stocks down 7.9 million barrels. The estimate for tomorrow’s crude oil inventories from the DOE is a draw of 1.83 million barrels. The API called gasoline stocks up 566,000 barrels and the estimate for […]

Oil rigs were in the USD were up 18 in Friday’s Baker Hughes rig report. This brings the total number of oil rigs to 685 and last year at this time there were 883 rigs. This is the most rigs added in one week since back in February of 2018. […]