Author: johnkilduff

WTI oil prices are lagging Brent crude oil prices, once again, as the focus shifts to US refinery maintenance and a looming demand slowdown. Citgo’s Corpus Christi unit was the latest to announce a shutdown for retooling. The strong refinery run rate, during the second-half of last year, supported WTI prices as has the various pipeline rationalizations.… Read more

Oil prices are rallying this morning, in the aftermath of the weekly inventory report from the EIA, which showed a further decline in overall distillate fuels, which, of course, include heating fuels. Those heating fuels continue to be in terrific demand, due to the tough winter being experienced throughout the eastern half of the United States.… Read more

The Brent-WTI spread was the featured trade, again, yesterday, as WTI rose and Brent declined in price. The impact of the Keystone pipeline southern leg may finally be emerging. Last night, the API reported that Cushing inventories fell by over 1 million barrels, and that appears to be directly linked to the pipeline flow.… Read more

WTI oil prices got caught in the selling vortex that gripped the equity markets, yesterday. Softening economic data also helped pressure prices lower, including a diminished manufacturing reading out of China. One data point does not a slowdown make, but the tug of emerging markets tumult magnified the disappointing ISM manufacturing reading.… Read more

The ills affecting the emerging markets have spilled over into the petroleum complex. The concerns over China, in particular, quickly translate into demand concerns for the market. The bitter cold weather and the demand for heating fuels have supported the market, and the squeeze in the expiring February heating oil contract was epic.… Read more

After rallying most of the week, oil prices are under pressure this morning, likely due to profit-taking, but also a decided “risk-off” day. We don’t care for that moniker, but it does make the point in succinct fashion. Energy prices continued to rally this week on strong winter fuel demand.… Read more

Oil prices seemed to catch-up to the rest of the markets, yesterday, falling around 1% and staying down, despite recovery in other markets. A forecasted break in the cold US weather seemed to weigh on prices, but the reality of the return of the polar vortex and rare snowstorm for Houston has reversed yesterday’s losses.… Read more

Brent crude oil prices are lower this morning, while WTI prices are slightly higher. The spread between the two grades is continuing to narrow, due to the initiation of the Keystone pipeline from Cushing to the Gulf that go so much attention last week.… Read more

Oil prices are lower this morning, as there is a decided “risk-off” feel to the markets in general. Several emerging market currencies and their economies are the focus, driving up concerns over the economic outlook going forward, which is a negative energy demand.… Read more

WTI crude oil prices continue to post gains. Yesterday, it was apparently a surprise to the market that the Keystone pipeline from Cushing, OK to the Gulf of Mexico was put into operation. That was probably one of the most telegraphed surprises in a long time.… Read more