Market Commentary

The negative outlook for global economy and the concern about recession and with it reduced energy demand continue to weigh on the energy market.  “We see the global economy going through a gradual, synchronized slowdown, “David Lipton First Deputy Managing Director at the International Monetary Fund said this week. This […]

Crude oil prices closed lower yesterday which was mainly due to poor US jobs report, a poor US manufacturing report and the EIA inventory report showing a build to crude oil stocks for the 3rd week in a row. ADP reported yesterday morning that only 135,000 new private US jobs […]

The inventory report from the private firm API was released last night and it showed that crude oil stocks were down 5.9 million barrels. Gasoline stocks were up 2.1 million barrels and distillate stocks were down 1.7 million barrels. Stocks of crude oil at Cushing, Ok were up 373,000 barrels. […]

Yesterday’s trading was a slow day other than the fact that it was expiration and that created flourish of activity around the “normal” close at 1:30 PM CST. Prices retreat on the news OPEC + could and would increase production if needed by the market but until there is a […]

Crude oil and refined product prices fell on Friday mainly driven by news that Saudi Arabia is attempting to impose a cease-fire in Yemen, Saudi Arabia production back near 100% pre-attack levels, the US Dollar near a 2-year high, the US considering investor limits into China, and Iran’s President claiming […]

Saudi Arabia is moving towards a partial cease-fire in Yemen. This is an attempt to ease the tension in the Middle East. China and the US have also schedule to talk again in mid-October, which is seen as good news for the markets. This news along with the action by […]

There continues to be a lot of news surrounding the market and it continues to congest and trade in a range. Yesterday the energy market was able to hold support and keep it in its trading range. RBOB filled the gap left behind that was created on the day of […]

US consumer confidence came in much worse than expected. It came in at 125.1 and this after a 134.2 revised August number. This was well below the expected number at 133.5. This was the biggest drop in nine months. The API released their inventory figures last night and they call […]

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 […]