Category: The Energy OverView

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

The oil market showed some weakness, yesterday, more on the WTI side. Last night, the API reported that overall crude oil inventories rose, while refiners reduced output further, as seasonal maintenance kicks in. The renewed cold weather and return of the polar vortex continues to support heating fuel prices and the complex in general.… Read more

Oil prices are fractionally lower to start the week. The warm weather respite of the past weekend is rapidly fading memory, and the week ahead will renew the focus on heating fuel demand. Last week, the weekly inventory report showed a lower-than-expected decline distillate fuels, and that helped cap the recent rally.… Read more