Market Commentary

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 […]

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 […]