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The U.S. Energy Information Administration Reported an Increase of 1.7 Millions Barrels

January 6, 2023
Recap:  Oil futures rose on Thursday after the U.S. Energy Information Administration reported an increase of 1.7 million barrels for the week to December 30. This puts U.S. crude oil inventories at 420.6 million barrels, 4 percent below the seasonal five-year average. Oil prices ... Read More
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Concerns About Immediate Global Oil Demand Intensified

January 5, 2023
Recap: Oil prices crashed early on Wednesday, with Brent crude falling below the $80 a barrel mark again, as concerns about immediate global oil demand intensified with soaring COVID cases in China and slowing economies globally. On Wednesday, oil prices continued the Tuesday rou ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $4.172 on Wednesday, January 4th

January 5, 2023
Wednesday, January 4th saw the February NYMEX Natural Gas Futures Contract open at $4.042, five cents above Tuesday’s closing price of $3.988. Tallying the intraday low of $4.000 by 10:00AM, prices then rose to trade along the $4.15 level ahead of midday. Despite overnight foreca ... Read More

February NYMEX Natural Gas Futures Contract Closed at $3.988 on Tuesday, January 3rd

January 4, 2023
Tuesday, January 3rd saw the February NYMEX Natural Gas Futures Contract open at $4.007, forty-seven cents below Friday’s closing price of $4.475. Hindered once again by bearish conditions that are expected to last at least another ten days, prices dropped sharply overnight. Post ... Read More

The Market Sold Off Sharply on Tuesday

January 4, 2023
Recap : The oil market sold off sharply on Tuesday following the long New Year’s holiday weekend. The market was pressured by weak demand data from China and a gloomy economic outlook. China’s government raised its export quotas for refined oil products in the first batch for 202 ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $4.475 on Friday, December 30th

January 3, 2023
The January NYMEX Natural Gas Futures Contract settled at $4.709 on Wednesday December 28th. Markets were closed yesterday in observance of the New Year holiday. Friday, December 30rd saw the February NYMEX Natural Gas Futures Contract open at $4.475, eight cents below Thur ... Read More

WTI Finished the Year Above $80 a Barrel

January 3, 2023
Recap: WTI finished the year above $80 a barrel, with the February contract climbing $1.86, or 2.37%, to close the session at $80.26 a barrel. This represents a gain of $5.05 per barrel, or 6.71% to $80.26 this year. Brent tacked on $8.13, or 10.45% this year, gaining $2.45, or 2 ... Read More
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Oil Futures Fell Despite a Weak Dollar and Strong Equities

December 30, 2022
Recap :  Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with COVID-19 infections spreading in the top oil-importing nation. Oil futures fell despite a weak dollar and strong e ... Read More
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Oil Futures Ended Lower on Wednesday

December 29, 2022
Recap:  Oil futures ended lower on Wednesday, with optimism over the demand outlook stemming from China’s continued relaxation of COVID-19 curbs offset by a surge in cases of the disease. A somewhat firmer dollar also lent pressure to this market. Earlier this month, China moved ... Read More
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Severe Weather in the U.S. Cut Into Output Amid Some Outages

December 28, 2022
Recap: Oil futures pulled back from early gains in a thinly traded market, as investors have been trying unsuccessfully for a month to gauge exactly when the Chinese economy may emerge from COVID restrictions. Oil prices had gained earlier in the session as severe weather in the ... Read More
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