Market Commentary

Chinese representatives were in town las week to have trade talks word got out Friday that they cut their visit short and went home and everyone took that as bad news. The Chinese delegation was supposed to visit some farms in Iowa, but at some point, the US ask them […]

Gasoline and diesel fuel prices rose significantly but WTI crude oil prices closed nearly flat yesterday after news of severe flooding in Texas due to Tropical Storm Irma shutting down refineries. The Sabine Ship Channel, a major Southwest Texas waterway for transporting cargo, including crude oil and natural gas, was […]

The market is trading higher today as many traders say Saudi Arabia painted a rosy picture that their production was back up and all by the end of the month most everything would be back to normal. Industry experts are saying that maybe a bit optimistic as repairs take time […]

The inventory report put out by the private firm API yesterday afternoon showed that crude oil stocks were up 592,000 barrels and the crude stocks at Cushing, Oklahoma were down 846,000 barrels. The supplies of gasoline were reported to be up 1.6 million barrels and distillate were up 2.0 million […]

Reports out of Saudi Arabia are mixed with respect to how long before they have production back online. Some reports have said that most production was coming back on line now and the rest in a few days other reports are saying it will be weeks or months to restore […]

Well there has been a lot of developments over the weekend that have drastically impacted the energy markets and the market opened much higher as overnight trading started Sunday night. On Saturday a coordinated drone strike attached oil processing facilities in Saudi Arabia at Abqaig and nearby Khurais oil field […]

The news about President Trump possibly offering a limited trade deal with China to potentially roll back or delay more of the tariffs is being closely monitored by traders. The trade war issues are a big deal for the global economy and if some serious progress is made it would […]

Propane inventory only build by 744,000 barrels in yesterday’s weekly update. This was a bit of a surprises as the expectation was for a build over 2 million barrels. The Midwest stocks built 239,000 barrels and the Gulf Coast stocks build 509,000 barrels. Export were down 73,000 barrel per day […]

The average estimates for today’s DOE inventory report from the Bloomberg survey is that crude stocks will be down 2.576 million barrels and gasoline stock will be down 970,000 barrels and distillate stocks will be down 523,000 barrels. In the inventory update from private firm API it called crude oil […]

S&P Global Platts reported that OPEC’s crude production increased by 50,000 bpd in August to 29.93 million bpd. The group’s compliance with the output cut deal stood at 103%. The August figure is 930,000 bpd lower than OPEC’s 14 members produced in January, and 2.34 million bpd low on the […]

Baker Hughes US Rig Count report said that 4 rigs drilling for crude oil were cut last week putting the total number of rigs looking for oil at 738 compared to 860 last year at this time. In Canada the number of crude oil rigs were cut by 3 to […]

Propane stocks had another weekly build of 2.862 million barrels putting total stocks at 97.019 million barrels. Midwest stocks built by 603,000 barrels and Gulf Cost stocks built by 1.657 million barrels. Midwest total stocks sit at 26.738 million barrels 1.049 million more barrels than last year at this time. […]