The market is retreating this morning after a 10.5 cent rally on HO and an 11.7 cent spike on RBOB the past two trading days, currently trading down 3 cents on refined products, respectively. Yesterday, HO advanced $0.0457 to $1.5274, and RBOB gained $0.0774 to $1.5827. July WTI crude finished up $1.39/bbl to $49.37. API […]

After a big drop in prices across the board yesterday, one might wonder why the market is seeing such a big rebound today.  For starters, DOE stats seemed to be overlooked yesterday, while today people are going back to statistics for guidance. Yesterday in the news, “The Brexit debate” (i.e., should Britain leave the EU) […]

The market is falling for the fifth consecutive day after surprisingly bullish EIA data, currently trading down about 0.0500 on HO and 0.0300 on RBOB. Yesterday, HO settled down $0.0242 to $1.4778 and RBOB fell $0.0199 to $1.5014 on the NYMEX.  July WTI crude finished down 48 cents to $48.01. The oil market has dropped […]

OPEC believes that the second half of 2016 will be much tighter than expected. OPEC reported that “China’s output is expected to increase by 60,000 b/d and production in Brazil is expected to increase by 270,000 b/d due to the start-up of two new projects. In the U.S., despite higher growth in the Gulf of […]

Futures are falling back below $50 this morning after WTI crude and refined products finished down yesterday. Two reasons for this morning’s drop in prices could be attributed to the strengthening dollar and the negative outlook of the financial markets.  

Yesterday, HO finished up $0.0290 to $1.5705 on the NYMEX, RBOB settled up $0.0327 to $1.6198, and July WTI crude settled at $51.38/bbl, an eleven month high. Gains yesterday were largely driven by US crude draws and a weak dollar. The market is recovering today from yesterday’s gains, with HO currently trading down $0.0150 and […]

Yesterday at the OPEC meeting, a number of members were hopeful that they would successfully reintroduce the idea of putting limits on oil production.  Iranian oil minister Bijan Zanganeh was quick to shut down any hopes of this happening. Luckily for Zanganeh and Iran, no one at OPEC took any real action, as far as slowing […]

To start things off, I hope all of you had a great weekend with your families and an even better Memorial Day yesterday. Memorial Day is a day to remember the fallen and to think about why we were able to grill out with our friends and family, go boating, and have a great time […]

The last time the market hit $50 a barrel on WTI crude was back in early October of 2015. Today, crude reached $50 and hit a high of $50.21. As of 1:30 PM EST we are at $49.59 on crude, even on the day. This does not come as a surprise, since the API’s released […]

The market was indecisive this morning, teetering around flat on HO and RBOB as the physical fundamentals still seem to be conflicting with market sentiment in this well-supplied market. The future market is also contemplating on the return of output halted by disruptions such as the Canadian wildfires, political unrest, and vandalism/militant attacks in Nigeria. […]