Yesterday, HO settled down $0.0347 to $1.3707 and RBOB finished down $0.0087 to $1.3550 (lowest since early March). August WTI crude lost $1.00 to $44.75, reaching a low of $44.25/bbl during overnight trading, a level that we haven’t seen since May. With U.S. inventories remaining at the forefront of oil price concern, trading is continuing […]
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Oil prices rose yesterday, bringing crude back from a two month low. This was likely due to the DOE statistics confirming the API’s prediction of draws on both crude and distillate inventories. This is now the ninth week in a row that crude inventories decreased. While some analysts believe this streak is an indication that […]
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Yesterday, HO finished down $0.0196 to $1.3778 and RBOB lost $0.0348 to $1.3872. August WTI Crude settled down 71 cents to $45.24/bbl. Refined products are trading fairly flat on the NYMEX.
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Gasoline stockpiles are nearing all-time seasonal highs in the United States. According to Bloomberg, within the last few weeks, a minimum of five vessels carrying gasoline were turned away at the New York Harbor as they arrived to unload product. In addition to this report, the International Energy Agency reported on Wednesday that some ships […]
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The market rebounded this morning and is continuing to remain strong after a weaker U.S. dollar, which is down $.0120 to $96.42 today. Another factor that is adding to the bullish market is the continued conflict in Nigeria, after the NDA (Niger Delta Avengers) blew up the Qua Iboe crude oil terminal operated by ExxonMobil […]
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Yesterday, the market recovered from an initial 6 to 8 cent sell-off following the 4th of July weekend, settling up $0.0255 on HO and finishing at a $0.0042 gain on RBOB. August WTI crude finished up 42 cents to $47.85. The market is currently trading down three cents for refined products on bearish EIA data.
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The market saw significant losses on the NYMEX returning from the holiday weekend yesterday, and is continuing to face pressure today. HO finished down $0.0659 to $1.4456 and RBOB settled down $0.0848 to $1.4287. WTI crude lost $2.39 to $46.60/bbl. The market is currently trading fairly flat on refined products.
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Yesterday, HO settled up $0.0624 to $1.5335 and RBOB gained $0.0148 to $1.5248 on sentiment of a weaker US dollar and bullish EIA data. July WTI crude gained $2.03 to $49.88. Today the market is giving back some of from yesterday’s gains, trading down 4 cents on refined products mid-day.
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The market is recovering today, after three consecutive down days on crude and refined products. As of 12:15 p.m. EST, WTI crude is up $.80 while gasoline and diesel are up $.0215 and $.0196, respectively. Brexit caused the massive drop in oil prices since last Thursday, but what is causing this surge today? The leading […]
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For many, Tuesday’s API report came as a surprise when the U.S. crude inventories showed a draw of 5.2 million barrels. However, the DOEs released yesterday morning tamed that bullish statistic with much weaker draws across the board. On the API report, gasoline and diesel fell 1.5 and 1.7 million barrels, respectively. The DOEs actually […]
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