Russia Could Throw OPEC a Curveball?  Doubtful.

With the market continuing its downtrend this morning we can look a little deeper into some of the underlying components that are going into it. As discussed in yesterday’s blog there is speculation that the global oil demand could be much weaker than anticipated.  Oilprice.com has reported “The IEA lowered its demand forecast by 50,000 […]

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The Saudi Shakedown Feeds the “Fair Price” Crusade

A major “Anti-Corruption” shakedown is taking place within the hierarchy of the Saudi’s.  A chief market strategist at FXTM has been reported saying  “There’s no doubt that OPEC and co. have been a major influencer of the most recent rally, but oil traders have a new political risk to consider, in the coming days and […]

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The Same Old Song

The oil markets are trending much in the same manner this morning as yesterday’s settles.  At yesterday’s close, WTI finished down $0.08 at $54.30/bbl, while heating oil and RBOB finished mixed to close at $1.8625/gal and $1.7410/gal respectively.  Yesterday’s activity was on the heels of the American Petroleum Institute data from Tuesday afternoon followed by […]

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OPEC Buzz Words Drive Brent over $60

What do you get when you have an overwhelming amount of rhetoric coming from OPEC using all the key buzzwords like “rebalance, stabilize, and compliance”….TADA…You get Brent crude oil prices rallying above $60 a barrel AND nearing its highest level since mid-2015. Today’s headlines circled around Russia and Saudi Arabia’s continued dialogue over the weekend […]

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Disruptions Help OPEC Compliance

We start out this week with an update in the Middle East. Currently volume out of the northern region of Iraq is beginning to normalize after tensions arose, yet again, between the recently voted independent Kurds and the Iraqi forces.  The oil field that the Iraqi forces had to stabilize in the Kurdish Barsa region […]

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Oil Higher Despite Good Iraq News

Initially lower, oil prices are now up on the day as traders look to square positions heading into the weekend after the down day yesterday. The market was lower at first light with news that Iraqi security forces took back a key oil region held by the Kurds, but was squeezed higher as the morning […]

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Uncertainty at its Finest

 The market was relatively quiet yesterday closing down $0.0070 to $1.8028/gal on November HO and closing up $0.0128/gal on November RBOB to $1.6429/gal. Much to everyone’s surprise, crude inventories fell for the 4th consecutive week yesterday by 5.7 million barrels. Analysts feel that the inventory draw and decrease in production were skewed by the effects […]

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Middle Eastern Uncertainty & Exports Growing Earnestly

On September 25th the Kurdish Regional Government (KRG) voted for their independence and ever since there has been uncertainty in the region.  The stability of the Middle East is called into question yet again to start the trading week.  Tensions were escalating quickly in the city of Kirkuk as Iraqi forces entered the city and […]

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