Author: johnkilduff

We were away for a couple days, and oil prices rose and fell on the various headlines. The expiring front-month April managed to climb above the $100 mark, on some of the geopolitical angst around Crimea and yesterday’s inventory report. The inventory levels at the Cushing, OK delivery point fell again to their lowest since January 2012.… Read more

Oil prices are fairly stable given all the angst swirling around over the Ukraine situation. It is a difficult analysis as to whether the Ukraine situation is bullish or bearish for oil. Russia’s oil production and supply to Europe hangs in the balance and its loss to the market is certainly supportive.… Read more

After a precipitous fall this this week, oil prices have stabilized this morning. The stabilization around $98 for WTI comes despite more disappointing economic data out of China. Factory output grew, but much less than expected. The growth of 8.6% is impressive on its face, but the markets were pricing in 9.5% of higher.… Read more

Oil prices pulled back sharply, yesterday, on the plunge in exports by China, the world’s swing consumer. China’s economic health is key to the oil market and the price outlook. The 18% plunge in exports was unexpected to say the least, and it comes on the heel of fears over China’s banking system and the equivalent of their money market industry.… Read more

WTI oil prices tested support near $100, yesterday, and prices seemed to reflect the diminishing demand prospects, as the calendar turns and we get into the upcoming shoulder demand season. Prices rebounded, however, not long after President Obama spoke to reporters, announcing sanctions related to the Ukraine crisis.… Read more

Oil prices continue to shed the recently acquired Ukraine security premium. WTI oil pressures were pressured lower by the weekly inventory report, which showed gains in crude oil and distillate inventories. On the latter increase, the East Coast seems to still be getting help from European imports.… Read more

Crude oil prices are lower, still, this morning, despite some supportive news items on the wires. Of course, the Ukraine-related security premium continues to come out of the price, but there is word of another round of North Sea maintenance on the Forties pipeline system will occur in June and July.… Read more

Crude oil prices are in retreat, as the Ukraine tensions simmer down. President Putin ended the military excercises on Ukraine’s border, and he denied that the forces in Crimea are Russian regular army, calling them “local forces of self-defense.” The calculus got wild about the possible implications over the whole episode.… Read more

Crude oil prices are surging in reaction to the crisis in the Ukraine. It was not clear how the oil market would react. Equities have sold off on the potential for damage to the global economy. Russia has been a bigger and bigger global trading partner, so its isolation would hurt global GDP.… Read more

Crude oil prices continue to meander, finding some strength from the renewed brutal weather and sourcing weakness from a well-supplied gasoline market and lackluster demand from seasonal refiner maintenance. WTI crude oil prices have also taken a cue from the S&P 500 of late, it should be noted.… Read more