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Supply Concerns Outweighed Fears that Further Interest Rate Hikes Could Slow Economic Growth

July 10, 2023
Recap:  The oil market continued to trend higher on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth. The market was well supported by several fundamental factors, with Vortexa reporting that there was currently 10.5 million b ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.609 on Thursday, July 6th

July 7, 2023
Thursday, June 6th saw the front-month NYMEX Natural Gas Futures Contract open at $2.645, a penny below Wednesday’s closing price of $2.657. In a choppy day of trading, prices initially fell to trade along the $2.610 level for most of the morning as production remains strong and ... Read More

The oil market on Thursday erased its overnight gain

July 7, 2023
Recap:  The oil market on Thursday erased its overnight gain as the market saw a higher likelihood of a U.S. interest rate hike that could impact demand. The Fed’s minutes released on Wednesday showed that a united U.S. central bank agreed to hold rates steady at its June meeting ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.657 on Wednesday, July 5th

July 6, 2023
Wednesday, July 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.721, a penny above Monday’s closing price of $2.709. Ascending early on to record the intraday high of $2.770 by 9:30AM, ample supply levels kept the bulls at bay as the contract pulled back to ... Read More

Trading on Wednesday Appeared to Narrow the Spread Between Brent and WTI

July 6, 2023
Recap:   On Wednesday, the oil market posted an outside trading day as the market weighed the supply cuts announced earlier this week by Saudi Arabia and Russia against the concerns over the global economy. The market traded mostly sideways during Tuesday’s short trading session ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.798 on Friday, June 30th

July 5, 2023
Friday, June 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.668, slightly below Thursday’s closing price of $2.701. Slipping to the intraday low of $2.659 ahead of 9:30AM, the contract then mounted a steady ascent as key demands areas of the country are fi ... Read More

The Oil Market Erased its Gains and Sold Off Ahead of the Fourth of July Holiday

July 5, 2023
Recap: On Monday, the oil market erased its early gains and sold off ahead of the Fourth of July holiday on Tuesday. Early in the morning, the market rallied to a high of $71.77 after Saudi Arabia and Russia announced supply cuts for August overshadowing any concern over the econ ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.798 on Friday, June 30th

July 3, 2023
Friday, June 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.668, slightly below Thursday’s closing price of $2.701. Slipping to the intraday low of $2.659 ahead of 9:30AM, the contract then mounted a steady ascent as key demand areas of the country are fin ... Read More

The Third Consecutive Higher Daily Settlement as the Financial Markets Found Support by Signs that Inflation Was Slowing

July 3, 2023
Recap: The oil market settled higher Friday, posting the third consecutive higher daily settlement as the financial markets found support by signs that inflation was slowing. But despite the gains, the oil markets still posted their fourth straight quarterly loss as concerns stil ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.701 on Thursday, June 29th

June 30, 2023
Thursday, June 29th saw the front-month NYMEX Natural Gas Futures Contract open at $2.625, four cents below Wednesday’s closing price of $2.668. Marking the intraday low of $2.616 within minutes of the opening bell, prices rose to trade along $2.655 leading up to the weekly stora ... Read More
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