March 17, 2016 edition of the Energy OverView
March 18, 2016 edition of the Energy Overview
Iran says “leave us alone” regarding oil output ceiling, until they get back to pre-sanctions production levels. Market says “sell” in response.
Market ignores large crude oil build and instead rallies on strong gasoline demand, spurred by low pump prices and high levels of employment in the U.S.
Oil prices remain focused on the freeze deal, and whether or not Iran will agree to cap its output.
Oil prices ignore massive 10 millionbarrel inventory build as market focuses on strong gasoline demand. Natural gas prices hit 20-year low on massive oversupply and mild weather outlook. More losses expected today on back of storage report.
WTI oil prices fail to hold the $35 per barrel price level. The latest set back was the report last night by the API which showed a massive crude oil inventory build of over 9 million barrels.
Oil prices continue to rally, aided by strong gasoline demand and hopes for the stimulus measures from China.
Oil prices are set to close the month on strong note, as the market continues to reward the alleged “freeze deal” among OPEC and Russia.
Saudi Arabia’s oil minister dismisses chance of an oil output cut, saying the kingdom does not trust others within OPEC to live up to a commitment to cut. Oil prices crater, as a result.