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The Oil Market Continued on its Upward Trend on Thursday

January 13, 2023
Recap:  The oil market continued on its upward trend on Thursday in follow through strength seen on Wednesday amid concerns over the impact of sanctions on Russian crude output. The market was further supported by expectation of increasing demand in China that could give a boost ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $3.671 on Wednesday, January 11th

January 12, 2023
Wednesday, January 11th saw the February NYMEX Natural Gas Futures Contract open at $3.764, thirteen cents above Tuesday’s closing price of $3.639. Recording the intraday high of $3.769 out of the gate, traders lost all pre-session momentum as prices tumbled to record an intraday ... Read More

The Oil Market Rallied Higher

January 12, 2023
Recap:  The oil market rallied higher as concerns over the impact of sanctions on Russian crude output outweighed a large unexpected build in crude stocks. The market was supported by reports indicating that G7 countries could soon target Russian refined products with sanctions i ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $3.639 on Tuesday, January 10th

January 11, 2023
Tuesday, January 10th saw the February NYMEX Natural Gas Futures Contract open at $3.708, thirteen cents above Monday’s closing price of $3.910. Trending lower overnight as traders had a chance to digest the impending seasonal temperatures near month-end, prices slipped to an int ... Read More

The Market Awaits the Release of the Weekly Petroleum Stock Reports

January 11, 2023
Recap: The oil market posted an inside trading day as the market awaits the release of the weekly petroleum stock reports. The oil market continued to move lower in overnight trading in follow through trading seen on Monday afternoon. The market posted a low of $73.84 before it b ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $3.910 on Monday, January 9th

January 10, 2023
Monday, January 9th saw the February NYMEX Natural Gas Futures Contract open at $3.840, thirteen cents above Friday’s closing price of $3.710. Trending higher before the opening and continuing through the morning, profit-taking and a whisper of the return to seasonal temperatures ... Read More

The Largest Weekly Decline at the Start of a Year Since 2016

January 10, 2023
Recap:  The oil market rallied higher on Monday after falling more than 8% last week, the largest weekly decline at the start of a year since 2016. The oil market was well supported by news that China opened its borders over the weekend for the first time in three years. Domestic ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $3.710 on Friday, January 6th

January 9, 2023
Friday, January 6th saw the February NYMEX Natural Gas Futures Contract open at $3.664, six cents below Thursday’s closing price of $3.720. With forecasts remaining unquestionably bearish for the weeks ahead, the contract managed to fight off any additional losses through the mor ... Read More

The Oil Market Retraced its Previous Losses

January 9, 2023
Recap:  The oil market retraced its previous losses and rallied by over $1 early in the session amid a weaker dollar. The dollar pared its earlier gains following the release of the U.S. Labor Department’s nonfarm payroll data. The report showed that employers added 223,000 jobs ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $3.720 on Thursday, January 5th

January 6, 2023
Thursday, January 5th saw the February NYMEX Natural Gas Futures Contract open at $3.889, twenty-eight cents below Wednesday’s closing price of $4.172. Settling in near the $3.830 level heading into the weekly storage publication, prices trended lower as the above-average withdra ... Read More
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