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Oil Complex Rises on Geopolitical Tension
“Vote Early and Vote ……”
As some of the political machines of the mid 1800s coined the jocular phrase of “vote early and vote often”, I can’t help but think about all the spirited voters racing to their local polling establishments today and how the energy and equity markets have reacted to midterm elections of the recent past. Over the […]
Read MoreU.S. Becomes World Largest Oil Producer?
Early in 2018, United States crude oil production was around 9.492 million barrels per day. Since that time, U.S. crude output has remained above the 10 million barrel a day mark and currently stands around 10.7 million over the last month. The rapid increase in U.S. production is due to the thriving shale industry. However, […]
Read MoreTrump to tap into SPR?
Among the many geopolitical issues going on in the world effecting the oil market, there have been reports this week that President Trump is considering tapping into the Strategic Petroleum Reserve (SPR) in an effort to lower gasoline prices. According to Bloomberg, “options are under consideration ranging from a 5 million barrel test sale to […]
Read MoreWho Wants to Blink First and Raise Prices?
On May 22nd we were hoping for a market correction prior to the holiday weekend. On that day the front month NYMEX RBOB contract settled at $2.2636. Climbing from May 2nd, close @ $2.0803. A whooping $0.18 price move inflicting severe pain on your local gas station distributor leaving retail gasoline margins negative in some markets and […]
Read More“All-Important” Meeting Imminent
Retracement?
On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%.
Read MoreWithdrawing From the Nuclear Deal
On Tuesday, President Donald Trump announced to the world that the United States will be withdrawing from the Joint Comprehensive Plan of Action, commonly referred to as the Iran Nuclear Deal. This move marks a split between the US and its European allies, notably Germany and France whose leaders have been urging President Trump fix […]
Read MoreA Barrel of Oil: More Than Just Fuel
While the implications of the United States withdrawing from the Iran nuclear deal are still unknown, the oil industry as a whole is watching ever so closely. The Trump campaign claims that sanctions are to be put back on Iran, which could limit the crude oil exports from their country. One of crude oil’s heaviest […]
Read MoreWhat is the Iran Nuclear Deal? “Deal or No Deal”
This week, President Trump will make a decision on the Iran nuclear deal. In 2015, a series of meetings were held between the Islamic Republic of Iran and a group of world powers: the United States, the United Kingdom, Russia, France, and China- plus Germany and the European Union. According to the agenda, Iran would […]
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