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Oil prices posted a rebound as the Suez Canal blockage squeezes crude oil supply

March 29, 2021
Recap: Oil prices posted a rebound on Friday, bouncing back from Thursday’s plunge, as concern that the giant container ship that ran aground in the Suez Canal may block the vital shipping conduit for weeks, squeezing supplies of crude oil and refined products. Rising tensions in ... Read More
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Traders kept an eye on the progress of moving a ship that has been blocking tanker traffic in the Suez Canal

March 26, 2021
Recap: Oil futures tumbled on Thursday, dipping down toward the lows of Tuesday and Wednesday, as concern over the increasing number of COVID19 cases across Europe gave rise to worries about demand. Traders kept an eye on the progress of moving a ship that has been blocking tanke ... Read More
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April NYMEX Natural Gas Futures Contract Closed at $2.518 on Wednesday, March 24th

March 25, 2021
Wednesday, March 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.532, three cents above Tuesday’s closing price of $2.508.  Extending to a modest intraday high of $2.545 minutes after trading floors opened, the contract traded along $2.535 through the morni ... Read More

The EIA reported a rebound in U.S. refining activity

March 25, 2021
Recap:  After falling by almost 5% on Tuesday, oil futures bounced right back, gaining more than 5% after a ship ran aground in the Suez Canal, raising worries that the incident could tie up crude shipments. Oil futures were already on the rise after the EIA reported a rebound in ... Read More
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April NYMEX Natural Gas Futures Contract Closed at $2.508 on Tuesday, March 23rd

March 24, 2021
Tuesday, March 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.547, nearly four cents below Monday’s closing price of $2.582.  Following an ascent to an intraday high of $2.568 at 9:50AM, forecasts for mild temperatures then directed prices lower.  Crossing ... Read More

Oil futures fell by almost 5% on Tuesday

March 24, 2021
Recap: Oil futures fell by almost 5% on Tuesday on rising demand concerns. The oil demand recovery in Europe, a region that accounts for about 15% of global consumption, looks set to take a fresh hit as the continent struggles to deal with another wave of coronavirus cases that c ... Read More
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April NYMEX Natural Gas Futures Contract Closed at $2.582 on Monday, March 22nd

March 23, 2021
Monday, March 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.517, two cents below Friday’s closing price of $2.535.  Recording an intraday low of $2.514 within minutes of the opening bell, prices rose steadily throughout the day as momentum turned bullish. ... Read More

Oil futures fell 1% in overnight trading

March 23, 2021
Recap: Oil futures continue to struggle as renewed concerns about demand pushed prices from session highs, while a pullback in the U.S. dollar propelled prices from session lows. Oil futures fell 1% in overnight trading as traders grew increasingly concerned over lockdowns as Ger ... Read More
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April NYMEX Natural Gas Futures Contract Closed at $2.535 on Friday, March 19th

March 22, 2021
Friday, March 19th saw the front-month NYMEX Natural Gas Futures Contract open at $2.473, a penny below Thursday’s closing price of $2.481.  Falling to an intraday low of $2.456 within minutes of the opening bell, bullish sentiment soon drove prices higher as the contract had wan ... Read More

WTI experienced an inside trading session after gapping lower on the opening

March 22, 2021
Recap: Just one day after falling by 7%, crude oil futures seesawed on Friday, turning to the upside, as traders reacted to reports of a drone attack on one of Saudi Arabia’s oil facilities, and on what was most likely trader stabilization ahead of the weekend. Despite a higher d ... Read More
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