We begin Thanksgiving Eve with U.S. crude hitting $58 a barrel. This is the first time since July 2015 and is expected to rise further due to the stoppage of a major Canadian crude pipeline to the United States. The Keystone pipeline is planning to cut deliveries by 85 percent on the remaining volume left […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

The API’s came out yesterday afternoon and showed a build in crude of 3.1 million bbls. 1 million of that being in Cushing, OK. Distillates built 2 million bbls and gasoline drew 1.6 million bbls. Expectations were for crude to drop about 1.7 million bbls according to analysts in a Wall Street Journal survey. The […]

The market continued its downward trend yesterday, front month HO closed $0.0435 to $1.7665/gal, front month RBOB closed down $0.0357 to $1.5553/gal and WTI crude $1.09 to $50.58/bbl. Just one week ago heating oil was trading almost 10 cents higher and RBOB was trading nearly 17 cents higher.