Market Commentary

The news of the morning is that an Iranian oil tanker has been hit by two missiles in the Red Sea. So far this is only being reported by Iran and no independent sources have been able to confirm this event. Iran originally said the missile attack was from Saudi […]

The inventory report for propane only showed an overall build of 132,000 barrels and the market was looking for a build of 750,000 barrels. Midwest stocks were up 11,000 barrels putting total stocks at 27.475 million barrels. This is 411,000 barrels less than last year at this time. The Gulf […]

The inventory report from the API called crude oil stocks up 4.1 million barrels.  Crude stocks as Cushing, Ok were reported up 1.2 million barrels. The outlook for crude stocks in today’s DOE inventor report as surveyed by Reuters is the expectation for an increase of 1.4 million barrels. The […]

The energy market overall had a very uneventful day as it did manage to run up higher but as the day wore on it eased back and settled near unchanged on RBOB and up a little over a penny on HO and crude up 50 cents. Prices were up strong […]

Crude oil and refined fuel products prices closed lower yesterday after rising to a one month high early in the trading day for both Brent crude oil and WTI crude oil. Brent hit a high of $62.34 and WTI hit a high of $56.92. The selling pressure came from poor […]

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 […]