Month: September 2014

WTI oil prices rebounded with gusto, yesterday. They seemed to turn on a dime, reversing off a key technical level. There was some news that BNSF railroad was undertaking significant track maintenance that has and will impact crude oil shipments. Two independently owned East Coast refineries said that they would be impacted.… Read more

Oil prices continue to plummet. This morning the IEA was the latest to cut its demand forecast, citing a remarkable slowdown in the second quarter that has caused Saudi Arabia exports to fall to their lowest level in three years. The IEA cuts its call on OPEC to 29.2 million bpd next year, which was a reduction of 200k bpd.… Read more

Oil prices are mixed this morning, after being mostly lower the past week with Brent crude oil prices solidly below $100 per barrel. The downward pressure on prices is due to several factors ranging from apparent over supply in the global market to a rapidly rising dollar.… Read more

Oil prices rebounded, yesterday, exhibiting some new found volatility. The changing reports over a possible cease fire between Russia and Ukraine are impacting the price action disproportionally. The concern over the impact on European economic activity and associated energy demand is the primary driver.… Read more

After getting trounced, yesterday, oil prices are rebounding this morning. There is some support coming from an outage in the North Sea, but that should be resolved in short order. The overnight news that some sort of cease fire may be developing between the Ukraine and Russia has helped virtually all markets.… Read more

Oil prices are lower again this morning, as concerns over Iraq and Libya continue to be manageable. According to Bloomberg and Reuters data, OPEC continues to pump over 30 million bpd, in the face of lackluster demand. The Ukraine crisis is a playing role because the downturn in the euro zone economy reverberates into China, as Europe is China’s largest customer.… Read more