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ADNOC eased supply cuts in line with an OPEC+ agreement to increase production by 500,000 bpd

By spragueoperati | December 28, 2020 | Comments Off on ADNOC eased supply cuts in line with an OPEC+ agreement to increase production by 500,000 bpd

Fundamental News:  Abu Dhabi National Oil Company has kept crude supply reductions to term customers in Asia mostly steady in February versus January.  ADNOC notified its customers that their February […]

Oil futures rose after EIA showed draws in U.S. inventories

By spragueoperati | December 24, 2020 | Comments Off on Oil futures rose after EIA showed draws in U.S. inventories

Recap:  Oil futures rose sharply on Wednesday after the EIA showed draws across the board in U.S. inventories. While inventories for crude oil showed a smaller than expected decline, stockpiles […]

January NYMEX Natural Gas Futures Contract Closed at $2.780 on Tuesday, December 22nd

By spragueoperati | December 23, 2020 | Comments Off on January NYMEX Natural Gas Futures Contract Closed at $2.780 on Tuesday, December 22nd

Tuesday, December 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.787, eight cents above Monday’s closing price $2.705.  Trickling downward to an intraday low of $2.764 by […]

January NYMEX Natural Gas Futures Contract Closed at $2.780 on Tuesday, December 22nd

By spragueoperati | December 23, 2020 | Comments Off on January NYMEX Natural Gas Futures Contract Closed at $2.780 on Tuesday, December 22nd

Tuesday, December 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.787, eight cents above Monday’s closing price $2.705.  Trickling downward to an intraday low of $2.764 by […]

OPEC and other major producers are set to increase output by 500,000 barrels per day starting in January

By spragueoperati | December 23, 2020 | Comments Off on OPEC and other major producers are set to increase output by 500,000 barrels per day starting in January

Recap: Oil futures ended lower on Tuesday, marking the second straight day of losses, as a new strain of COVID-19 reignited concerns over demand and a global economic recovery. Due […]

January NYMEX Natural Gas Futures Contract Closed at $2.705

By spragueoperati | December 22, 2020 | Comments Off on January NYMEX Natural Gas Futures Contract Closed at $2.705

Monday, December 21st saw the front-month NYMEX Natural Gas Futures Contract open at $2.680, two cents below Friday’s closing price $2.700.  Touching down to an intraday low of $2.662 soon […]

Oil futures slipped on Monday

By spragueoperati | December 22, 2020 | Comments Off on Oil futures slipped on Monday

Recap: Oil futures slipped on Monday amid fears that the new strain of COVID-19 found in the UK will put additional pressure on demand. Several countries have already closed their […]

January NYMEX Natural Gas Futures Contract Closed at $2.700 on Friday, December 18th

By spragueoperati | December 21, 2020 | Comments Off on January NYMEX Natural Gas Futures Contract Closed at $2.700 on Friday, December 18th

Friday, December 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.677, four cents above Thursday’s closing price $2.636.  Trading along either side of $2.690 for the majority […]

Oil futures settled at their highest level since February

By spragueoperati | December 21, 2020 | Comments Off on Oil futures settled at their highest level since February

Recap: Oil futures settled at their highest level since February, gaining for the seventh week in a row, as the vaccine rollout for COVID-19 continues and on heightened optimism that […]

Oil futures settled higher on signs of progress on another US stimulus package

By spragueoperati | December 18, 2020 | Comments Off on Oil futures settled higher on signs of progress on another US stimulus package

Recap: Oil futures settled higher for the fourth straight session, as signs of progress have been seen in U.S. lawmakers reaching a second round of economic relief. Oil prices jumped […]