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OPEC raised its forecast for oil consumption by 190,000 bpd for 2021

April 14, 2021
Recap: On Tuesday, the oil market posted an inside trading day as it failed to breach Monday’s trading range.  While the market traded sideways, it did trade higher for much of the day.  The market was supported by OPEC’s monthly report, which showed that OPEC increased its expec ... Read More
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May NYMEX Natural Gas Futures Contract Closed at $2.561 on Monday, April 12th

April 13, 2021
Monday, April 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.583, six cents above Friday’s closing price of $2.526.  Ascending to an intraday high of $2.599 within minutes of 9:00AM, the contract found an intraday low of $2.531 an hour later.  Trading alon ... Read More

The oil market was supported by optimism over the pace of coronavirus vaccinations in the U.S.

April 13, 2021
Recap: The oil market on Monday posted an outside trading as the market was well supported by optimism over the pace of coronavirus vaccinations in the U.S. and news that the Yemen's Iran-aligned Houthi movement said it had fired 17 drones and two ballistic missiles at Saudi targ ... Read More
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May NYMEX Natural Gas Futures Contract Closed at $2.526 on Friday, April 9th

April 12, 2021
Friday, April 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.534, a penny above Thursday’s closing price of $2.522.  Ascending to an intraday high of $2.552 within minutes of the opening bell, the contract traded along either side of $2.540 through midday a ... Read More

OPEC and its allies decided to increase supplies by 2 million barrels per day

April 12, 2021
Recap: Oil futures edged lower on Friday, on concerns about increasing supply, and slowing demand, as the number of coronavirus cases rise across Europe, Brazil and India. Additional downside pressure came after OPEC and its allies decided to increase supplies by 2 million barrel ... Read More
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WTI traded to the downside and Brent held on to small gains

April 9, 2021
Recap: Oil prices were little changed, as they traded on a mixed note, with WTI trading to the downside, while Brent held on to small gains. The mixed emotions came as traders weighed the prospects for energy demand on the heels of the rise in global cases of COVID-19. Some analy ... Read More
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May NYMEX Natural Gas Futures Contract Closed at $2.520 on Wednesday, April 7th

April 8, 2021
Wednesday, April 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.538, three cents above Monday’s closing price of $2.456.  Tallying an intraday low of $2.470 out of the gate, prices were quick to reverse the previous day’s losses, reaching the $2.530 level b ... Read More

The EIA reported a more than 4 million barrel build in U.S. gasoline stockpiles

April 8, 2021
Recap: Oil futures fell from session highs alongside a strengthening dollar while the biggest U.S. gasoline supply increase in two months offset a drop in crude inventories. WTI fell as much as 2% after the EIA reported a more than 4 million barrel build in U.S. gasoline stockpil ... Read More
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May NYMEX Natural Gas Futures Contract Closed at $2.456 on Tuesday, April 6th

April 7, 2021
Tuesday, April 6th saw the front-month NYMEX Natural Gas Futures Contract open at $2.538, three cents above Monday’s closing price of $2.511.  Achieving an intraday high of $2.557 within minutes of the opening bell, prices were soon directed lower by overwhelming bearish sentimen ... Read More

Oil futures rose as much as 3.8% on Tuesday

April 7, 2021
Recap: Oil futures rose as much as 3.8% on Tuesday, following a rise across the spectrum for commodities, as the International Monetary Fund boosted its 2021 economic growth forecast to 6% from a January forecast of 5.5% as it expects strong growth for emerging economies and the ... Read More
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