Market Commentary

The market is trading lower after President Trump said there may be delays in the trade deal with China. President Trump said the legislation supporting protesters in Hong Kong did not make trade negotiations with China easier but added that he believes China still wants a deal with the US. […]

On a short trading day with limited traders on the job Friday the market sold off hard. Crude was down $2.99 per barrel, RBOB futures down $0.0855 and ULSD was down $0.0668 on the day. The market has opened higher overnight and in early trading this morning has taken back […]

Propane inventories had a big draw of 3.433 million barrels putting total stocks at 94.210 million barrels. Last year at this time total stocks were at 81.776 million barrels putting us 12.434 million barrels ahead of last year at this time. The propane stocks in the Midwest drew by 1.455 […]

Crude oil and refined product prices closed lower yesterday mainly due to continued uncertainty over the US and China trade deal and concerns of excess world crude oil supplies. News that Russia is unlikely to agree to deepen crude oil output cuts at the next OPEC+ meeting in Vienna on […]

The Baker Hughes Rig Count said that 10 crude oil rigs came offline last week. The total number of rigs looking for oil is down to 674 rigs compared with 888 rigs last year at this time. Despite the record US crude oil production last week in the DOE report, […]

Propane inventories drew by 2.515 million barrels putting total stocks at 97.653 million barrels. The Midwest had stocks down 949,000 barrels and the Gulf had stocks down 873,000 barrels. Total stocks in the Midwest are now at 24.841 million barrels 1.980 million barrels less than last year. Gulf Coast stocks […]

The API inventory report said that crude oil stocks were down 541,000 barrels and the stocks of crude oil at Cushing, Ok were down 1.2 million barrels. The outlook for crude stocks in today’s DOE report from the Reuters survey is for stocks to be up 1.6 million barrels. Gasoline […]

President Trumps spoke to the Economic Club of New York yesterday and said that the phase 1 deal with China could happen soon and was close but gave no other specific details. He did however threaten to substantially raise US tariffs on China if a trade deal was not reached. […]

Crude oil and refined fuels product prices closed lower yesterday after being down more in early trading. Price were down on negative data from China and President Trump saying that he had not agreed to reduce tariffs as part of the phase 1 deal. Price pared their losses after Genscape, […]

Crude oil and refined product prices closed higher on Friday mainly due to a large rise in China crude oil imports, a drop in US crude oil rigs this past week, and optimism on a US and China phase 1 trade deal. US equites reached record highs on Friday also […]

Crude oil and refined fuel product prices closed higher yesterday, which was mainly driven by news that the US and China have agreed to a framework for the phase 1 trade deal. The Chinese Commerce Ministry said yesterday that China and the US have agreed to cancel some tariffs in […]

Propane inventory was up 320,000 barrels. The Midwest showed a decline of 755,000 barrels and the gulf coast had a build of 520,000 barrels. Total stocks are currently at 100.168 million barrels. Midwest total stocks are 25.790 million barrels 1.544 million barrels less than last year at this time. Gulf […]