Category: Oil Pricing

The crude oil market is casting a wary eye on the Syrian conflict. It has been cited as the primary reason for the recent rise. The latest aspect of the situation did have Russia’s Putin agreeing to a G-8 communique that calls for a political solution to the crisis that implied a post-Assad Syria.… Read more

WTI prices are, once again, up against tough price resistance. Prices surged toward $99, early yesterday, but the gains did not hold. Prices seemed to fall on news that Libyan oil production has rebounded back above the 1 million bpd level, after recently falling below that mark.… Read more

WTI prices are building on last week’s gains, and they appear headed above $100. The renewed surge comes on the back of extensive oil output issues in several OPEC countries. Specifically, Libya’s output fell below 1 million bpd, Nigeria has had sporadic issues, and several other African producers have experienced difficulties.… Read more

For all the tumult in the global equity markets, oil prices are down modestly. In fact, with WTI just above 95.50, everything would seem alright, in terms of the functioning of the global economy and energy demand outlook. The three major oil market monitoring agencies did reduce their demand outlook, but not by very much.… Read more

Oil prices are middling, again, after reclaiming yesterday’s initial losses. It was a volatile day across-the-markets, and the currency fluctuations seems to push oil prices higher. Concerns over the stability of Turkey also played a role. The market seemed to ignore the downward demand forecasts from OPEC and the EIA, which has now been echoed by the IEA.… Read more

Oil prices are down over $1.00 per barrel, as OPEC cut its demand growth outlook in its latest monthly report. The cartel has finally recognized the drag on demand from China’s slowing economy. We expect the IEA, and EIA to do the same in their upcoming monthly reports.… Read more

Oil prices rallied along with equities on Friday, after realizing the Fed would not be tapering anytime soon, due to the persistent lackluster jobs data. As we discus above, the data are middling, but they are in the right spot in terms of allowing for more asset purchases.… Read more

The resiliency of crude oil prices showed themselves, again, yesterday. The huge drawdown in inventories reported on Tuesday and Wednesday in the weekly reports were punctuated by a Genscape report, yesterday, that indicated Cushing, OK crude oil inventories fell over 1 million in the past week.… Read more

Brent crude oil was the tar of the complex, yesterday, on word that South Korea would resume subsidies for refiners to purchase crude from other than Middle East sources. The subsidies cover the additional transit costs from the farther flung production sources.… Read more

Crude oil prices are slightly lower this morning, after rallying back, yesterday. Production issues in the North Sea sparked the rally, but the latest problems appear fleeting. Oil prices also ignored the negative ISM Manufacturing reading, yesterday. While we believe prices are likely to fall, we seem to have an increasing amount of company, which is worrisome.… Read more