Market Commentary

The energy market has a very strong selloff in early trading yesterday. The reason is possibly two fold but the main driver that is getting attention is a tweet. President Trump again tweeted at OPEC that prices were getting too high. The President’s Tweet: “Very Important that OPEC increase the […]

China’s exports dropped 20.7% in February as seasonal factory shutdowns and continued uncertainty from the trade war combined to drag on shipments, adding to concerns over a weakening global economy. German factor orders dropped 2.6% in January, where a gain had been expected, with the fall caused by weak demand […]

The DOE inventory report said that crude oil stocks were up a big 7.069 million barrels. Cushing, Ok crude oil stocks were up 873,000 barrels. Gasoline stocks were down 4.227 million barrels and distillate stocks were down 2.393 million barrels. Refinery Runs were up 0.4% to 87.5% of capacity. The […]

The API reported a big increase in crude oil stocks of 7.3 million barrels. The market is expecting the DOE report today to show a 1.2 million barrel increase. Gasoline stocks were down 391,000 barrels and the outlook for today’s report is a decline of 2.01 million barrels. Distillate stocks […]

White House economic adviser, Kevin Hassett, said that US Trade Representative, Robert Lighthizer, has made progress in talks with China and a deal was possible to end a dispute that has already put tariffs on hundreds of billions of dollars’ worth of goods. The Wall Street Journal reported that US […]

The inventory update from the private firm API called crude stocks down 4.2 million barrels. Gasoline stocks were reported down 3.9 million barrels and distillates were up 394,000 barrels. The crude oil stocks at Cushing, Ok were up 2.0 million barrels.  The estimates for today’s DOE report from the Reuters […]