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The API report showed a larger than expected draw in crude stocks

May 31, 2019
Recap: The crude market posted an outside trading day after it rallied higher in overnight trading after the API report showed a larger than expected draw in crude stocks late Wednesday afternoon and sold off sharply, ending Thursday’s session at its lowest level since March 8th. ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.663 on Wednesday, May 29th

May 30, 2019
On Wednesday, May 29th – settlement day for the June contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.622, four cents above Tuesday’s closing price of $2.582.  Posting a choppy ascent through the day’s trading session, the contract posted an intraday lo ... Read More

The oil market opened lower and erased its previous gains

May 30, 2019
Recap: The oil market opened lower and erased its previous gains, as concerns over the trade war between the US and China outweighed supply disruptions.  The market was weighed down by the weakness in the equities market as China signaled readiness to escalate the trade war with ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.582 on Tuesday, May 28th

May 29, 2019
Tuesday, May 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.548, five cents below Friday’s closing price of $2.598.  Mounting a recovery effort early on as short-term weather forecasts turned bearish over the long weekend, prices rose from an intraday low ... Read More

The number of rigs searching for oil fell to the lowest level since March 2018

May 29, 2019
Recap: On Tuesday, the oil market extended Friday’s rebound following the long Memorial Day weekend.  The market weighed Friday’s Baker Hughes report showing that the number of rigs searching for oil fell to the lowest level since March 2018 and the escalating US-Iran tensions.  ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.598 on Friday, May 24th

May 28, 2019
Friday, May 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.565, a penny below Thursday’s closing price of $2.578.  Falling to an intraday low of $2.542 by 9:40AM, the contract posted a steady ascent for the balance of the day to surpass the $2.60 level.  T ... Read More

Oil prices were pressured by concern over economic slowdown

May 28, 2019
Recap: Oil prices firmed on Friday ahead of the long U.S. and UK 3-day holiday weekends, but posted their largest weekly loss so far this year. It was a wild week for oil prices, which were pressured by trade tensions between the U.S. and China, rising U.S. crude oil inventories ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.578 on Thursday, May 23rd

May 24, 2019
Thursday, May 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.562, two cents above Wednesday’s closing price of $2.543.  Slipping to the intraday low of $2.540 ahead of 10:00AM, prices were able to recover to $2.555 ahead of 10:30AM.  Trending higher as the ... Read More

Trade tensions between the U.S. and China dimmed the outlook for demand

May 24, 2019
Recap: Oil prices plummeted on Tuesday, as trade tensions between the U.S. and China dimmed the outlook for demand. Brent crude futures fell to their lowest level in 8 weeks, with the July contract slipping 5.5%, to a session low of $67.02 a barrel. July WTI slumped 6.6% to a 10 ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.543 on Wednesday, May 22nd

May 23, 2019
Wednesday, May 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.584, three cents below Tuesday’s closing price of $2.613.  Tallying the intraday high of $2.592 within minutes of opening, selling pressure continued to weigh on prices as forecasts turn bearish ... Read More
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