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Differing U.S. data reported last week showed U.S. crude oil inventories held at Cushing shrinking and shale output continuing to rise

February 21, 2018
Recap: Oil prices were mixed on Tuesday, with Brent coming under pressure as maintenance gets under way in that region and with WTI increasing on concerns of tighter supplies out of Canada. The divergence comes on the heels of differing U.S. data reported last week, which showed ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.616 on Tuesday, February 20th

February 21, 2018
Tuesday, February 20th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.645, nine cents above Friday’s closing price of $2.558.  Seeming to reaching consensus that market conditions were oversold, the contract extended higher in the early morning.   Seesawing al ... Read More

Both gasoline and heating oil were up 3% for the week

February 20, 2018
Recap:  After falling in overnight trading, WTI rebounded, hitting a high of $61.99 on Friday, its highest level in a week. The up move was fueled by a weaker dollar, which fell to its lowest level in three years. As the dollar pared losses, oil prices slipped but held on to week ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.558 on Friday, February 16th

February 20, 2018
Friday, February 16th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.540, four cents below Thursday’s closing price of $2.580.  Stumbling lower overnight despite Thursday’s bullish storage report, the contract ascended to the $2.570 level by 10:00AM.  Despite ... Read More

March NYMEX Natural Gas Futures Contracts Closed at $2.580 on Thursday, February 15th

February 16, 2018
Thursday, February 15th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.569, two cents below Wednesday’s closing price of $2.587.  Struggling to regain overnight losses through 10:30AM, a bullish storage report then lifted prices to the intraday high of $2.607. ... Read More

OPEC lead production cuts remain overshadowed by robust U.S. production

February 16, 2018
Recap: Oil prices slipped in overnight trading however, WTI gained has the dollar weakened while Brent came under pressure as OPEC lead production cuts remain overshadowed by robust U.S. production. The early morning sell-off was attributed to Wednesday’s rebound being perhaps a ... Read More
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EIA report indicated U.S. crude oil stocks had increased less than expected

February 15, 2018
Recap: What started out to look like another down day for oil prices, was quickly reversed after the EIA report indicated U.S. crude oil stocks had increased less than expected and after the Saudi Energy Minister said his country will cut an additional 100,000 barrel per day of p ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.587 on Wednesday, February 14th

February 15, 2018
Wednesday, February 14th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.562, three cents below Tuesday’s closing price of $2.594.  Recovering to the $2.60 level soon after markets opened, prices rose to the intraday high of $2.619 ahead of 10:00AM.  Supported ... Read More

IEA raised its forecast for non-OPEC production, which put pressure on oil prices early in the session

February 14, 2018
Recap: Citing ever mounting U.S. shale production, the IEA raised its forecast for non-OPEC production, which in turn put pressure on oil prices early in the session. March WTI fell as much as 1.5%, while April Brent dipped as much as 1.3% during the trading session. Weakness in ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.594 on Tuesday, February 13th

February 14, 2018
Tuesday, February 13th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.611, six cents above Monday’s closing price of $2.552.  With little to no support from market fundamentals, traders found value in the recently diminished contract overnight and buoyed its g ... Read More
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