Category: Oil Markets

When you look at the roster of countries that participated in air strikes on ISIS forces in Iraq and Syria, it is no wonder oil prices have jumped in overnight trading. Saudi Arabia, Kuwait, UAE, and Qatar were all involved. So, virtually the entirety of the Arab peninsula is involved in hostilities.… Read more

The same negative factors hitting the equity market is undermining Brent crude oil prices. Statements from China’s Finance Minister, citing downward pressure on growth and a lack of a policy response, is undermining the outlook for energy demand growth. Oil producers need China to continue to grow in a big way in order to sustain prices, in the face of growing supplies.… Read more

Oil prices are falling again, unable to mount a sustained rally on renewed Libyan oil output problems, in the face of an ever stronger dollar. The pound sterling is making back much of its Scotland damage, but the yen and euro keep falling versus the greenback.… Read more

WTI oil prices fell, yesterday, as the weekly EIA inventory reported a large rise in crude oil inventories, which contrasted with an expectation for a decline. The 3.7 million barrel rise came as a result of a surge in imports back above 8 million bpd.… Read more

WTI oil prices tested support near 90.63, yesterday, before snapping back, yet again. They are lower again this morning, on another disappointing economic data point from China and the generalized selling that is being generated by the expected change in policy stance by the FOMC.… Read more

Oil prices are back on the decline due to weak Chinese economic that was released over the weekend. Factory output grew at its lowest pace in six years, and economists are tripping over themselves to lower GDP forecasts to near 7%.… Read more

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