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Price Pressure Appeared to Come From the News that Nigerian Forcados Crude Exports Resumed on Sunday

August 15, 2023
Recap:  The oil markets spent much of the trading session today on the defensive as the bearish contagion from global equity markets regarding concerns over the sputtering Chinese economy kept buyers on the sidelines. Additional price pressure appeared to come from the news that ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $2.795 on Monday, August 14th

August 15, 2023
Monday, August 14th saw the front-month NYMEX Natural Gas Futures Contract open at $2.785, nearly two cents above Friday’s closing price of $2.770. Posting a shaky ascent to an intraday high of $2.801 by 9:45AM, the contract proceeded to chop around the $2.770 level throughout th ... Read More

Sprague Operating Resources LLC (Sprague) Introduces Renewable Diesel to NY Metro Area

August 15, 2023
Sprague Operating Resources LLC (Sprague) Introduces Renewable Diesel to NY Metro Area Low Carbon Liquid Fuels offer immediate, substantial emissions reduction.   New York, NY – August 15, 2023 – With a heritage spanning 150+ years, Sprague proudly announces its latest step ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $2.770 on Friday, August 11th

August 14, 2023
Friday, August 11th saw the front-month NYMEX Natural Gas Futures Contract open at $2.752, a penny below Thursday’s closing price of $2.763. Trending lower through the morning hours to record the intraday low of $2.701 at 11:00AM, the contract struggled to find its footing follow ... Read More

The Oil Market on Friday Traded Higher and Posted its Seventh Consecutive Weekly Gain

August 14, 2023
Recap:  The oil market on Friday traded higher and posted its seventh consecutive weekly gain, matching the longest winning streak since February 10, 2022. The market traded lower in overnight trading following Thursday’s profit taking and posted a low of $82.23. However, it boun ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $2.763 on Thursday, August 10th

August 11, 2023
Thursday, August 10th saw the front-month NYMEX Natural Gas Futures Contract open at $2.893, nearly seven cents below Tuesday’s closing price of $2.959. Marking the intraday high of $2.900 early on, the contract sought direction along $2.875 leading up to the weekly storage publi ... Read More

Inflation Increased in July for the First Time in 13 Months

August 11, 2023
Recap:  The oil market on Thursday posted an outside trading day as it sold off following the release of the CPI report, which showed that inflation increased in July for the first time in 13 months. Consumer prices increased by 3.2% on the year in July, up from 3% in June, bring ... Read More
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Draws in U.S. Fuel Stocks Helped Offset Some Concerns of Weaker Demand from China

August 10, 2023
Recap:  The oil market rallied higher on Wednesday as draws in U.S. fuel stocks helped offset some concerns of weaker demand from China as the country’s crude oil imports in July fell by 18.8% on the month to the lowest level since January. The market traded mostly sideways in ov ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $2.959 on Wednesday, August 9th

August 10, 2023
Wednesday, August 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.943, nearly seventeen cents above Tuesday’s closing price of $2.777. Continuing the previous day’s momentum, based on production declines due to maintenance and steady cooling demand, prices a ... Read More

September NYMEX Natural Gas Futures Contract Closed at $2.777 on Tuesday, August 8th

August 9, 2023
Tuesday, August 8th saw the front-month NYMEX Natural Gas Futures Contract open at $2.753, three cents above Monday’s closing price of $2.725. Falling to the intraday low of $2.719 soon after the opening bell, the contract began a gradual ascent that would span the day. Fueled by ... Read More
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