Yesterday’s trading session saw mixed results after the EIA reported the 8th consecutive stock draw from crude oil, and stock builds for both products. Crude gained 30 cents from its opening price to settle at a three year high of $63.80. Today, crude prices are trending lower, with prices[…]
It’s been another week of large gains for crude oil, with prices gaining $1.96 between Monday’s opening price and this morning. The New Year is continuing its trend to push prices higher with crude oil posting a three year high closing price on Thursday. After the API reported massive inventory[…]
Markets remained mostly flat during yesterday’s trading session following an EIA report that showed minimal draws compared to the large draws estimated by the API report. Despite the rather disappointing inventory report, crude kept its strength throughout the day and closed 16 cents higher than[…]
Oil prices move higher this morning after Nigeria’s announcement yesterday that there could be a strike by the key oil workers union. Crude recovered some of its strength during yesterday’s session, closing 69 cents above the opening price. Prices have continued to strengthen this morning, gaining[…]
It’s been an eventful week for the market considering the overall lack of news. Markets have calmed from the OPEC announcements made last week and responded to a bearish inventory report that weakened prices on Wednesday. Yesterday’s announcement of Nigeria’s potential strike has been one catalyst[…]
The oil complex posted heavy losses across the board after yesterday’s EIA report revealed sharp increases in refined product stocks and high refinery utilization rates. Crude prices gave up $1.49 to close at $55.96, its lowest closing price in 3 weeks. Prices gained a mere 13 cents this morning[…]
Oil prices move higher this morning after OPEC’s announcement yesterday that cuts will be extended through 2018. Crude traded mostly flat during yesterday’s session, closing just 1 point lower than its opening price. Prices have strengthened slightly this morning, gaining 39 points (.68%) to trade[…]
Markets are moving higher this morning after a mixed trading session Thursday. Crude oil made modest gains during yesterday’s sessions, picking up 26 cents from opening to close. Prices continue to move slightly higher this morning, gaining 17 cents to reach its current price of $54.71. Crude is on[…]
Crude oil prices have risen gently this week, while refined products saw mixed results. Crude markets have increased by 57 cents (+1.1%) between Monday’s opening price and Friday’s, with Friday prices starting the day at $54.73.
The oil complex saw mixed results after a somewhat disappointing EIA report. Crude prices fell 35 cents yesterday, as the EIA confirmed a smaller than expected draw this past week. Crude is trading mostly flat this morning, lossing another 9 cents (.07%) this morning, bringing prices to $54.21.