Market Commentary

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. […]

The energy market surged back from the big sell off the day prior as good economic data out of China, positive retail sale data in the US, another drop in US crude inventories expected today, and easing tension in the Middle East fueled this rally. The API report released yesterday […]

Crude oil and refined fuel product prices closed significantly lower yesterday due to poor manufacturing reports in the US and Europe, both US and China having new trade tariffs kicking in September 1, and the US dollar index back up to a 2-year high this past Friday. Data was released […]

The energy market is selling off as the bulls are unable to sustain their rally and break the market out on the upside. The fact that the US and China have imposed more tariffs on each other’s goods is not a positive for the global economy and traders are taking […]

The energy market traded higher yesterday on the idea that China was taking a softer stance on the trade war, the potential threats from Hurricane Dorian, and the big decline in crude stocks reported this week in the DOE inventory update. China’s commerce ministry said yesterday that they will not […]