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A fire at the Philadelphia Energy Solution's refinery caused an impressive move in gasoline

June 24, 2019
Recap: The big news on Friday was the fire at Philadelphia Energy Solution’s refinery that was ignited by a series of explosions shortly after 3 a.m. The refinery processes 335,000 barrels of crude oil every day at two plants in the complex — Girard Point and Point Breeze. The fi ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $2.185 on Thursday, June 20th

June 21, 2019
Thursday, June 20th saw the front-month NYMEX Natural Gas Futures Contract open at $2.275, nearly even to Wednesday’s closing price of $2.276.  Ascending to the $2.30 level by 10:00AM as traders positioned themselves ahead of the EIA storage publication, prices then plummeted as ... Read More

Oil prices jumped as much as 6% on Thursday

June 21, 2019
Recap: Oil prices jumped as much as 6% on Thursday after Iran shot down a U.S. military drone near the Strait of Hormuz, raising fears of a military confrontation between the two countries. August WTI rose $3.40, or 6.2%, to $57.37 a barrel by 11:02 a.m. EST, while August Brent s ... Read More
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The EIA reported a larger than expected drawdown in U.S. crude oil stocks

June 20, 2019
Recap: Oil prices shot to the upside after the EIA reported a larger than expected drawdown in U.S. crude oil stocks, the first in three weeks. August WTI, which was trading at $53.67 just prior to the release of the report, jumped 86 cents to a midsession high of $54.53 a barrel ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $2.328 on Tuesday, June 18th

June 19, 2019
Tuesday, June 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.392, slightly above Monday’s closing price of $2.386.  Falling from the intraday high as markets opened, the $2.365 level provided support through 10:30AM when prices trended lower once again.  C ... Read More

Oil prices posted sharp gains on Tuesday

June 19, 2019
Recap: Oil prices posted sharp gains on Tuesday after U.S. President Donald Trump announced he would hold an extensive meeting with Chinese President Xi Jinping at the G20 summit to be held later this month. The potential for a trade agreement between the two countries pushed Aug ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $2.386 on Monday, June 17th

June 18, 2019
Monday, June 17th saw the front-month NYMEX Natural Gas Futures Contract open at $2.376, a penny below Friday’s closing price of $2.387.  Managing an upward trajectory into the morning hours, prices rose to an intraday high of $2.408 at 11:00AM.  With little change to forecasts, ... Read More

Traders mulled over last week’s decision by the IEA to lower its 2019 forecast for global demand

June 18, 2019
Recap: Oil prices slid on Monday after poor Chinese economic data heightened fears of lower worldwide demand and as traders mulled over last week’s decision by the IEA to lower its 2019 forecast for global demand, making it the second straight month the organization has lowered i ... Read More
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An attack on two tankers in the Gulf of Oman raised concerns about potential supply disruptions

June 17, 2019
Recap: Oil prices posted modest gains on Friday, a day after an attack on two tankers in the Gulf of Oman raised concerns about potential supply disruptions. Gains were kept contained after the IEA cut its global oil demand forecast, while referencing “plentiful” supply to meet g ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $2.387 on Friday, June 14th

June 17, 2019
Friday, June 14th saw the front-month NYMEX Natural Gas Futures Contract open at $2.339, a penny above Thursday’s closing price of $2.325.  Rising from the intraday low of $2.334 soon after the opening bell, prices then gained traction on hopes of increased demand toward the last ... Read More
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