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Oil Market Falls as Fed's Rate Cut Delay and Geopolitical Tensions Fuel Uncertainty

February 26, 2024
Recap: On Friday, the oil market erased Thursday’s gains and posted a weekly decline of 2.51% after Federal Reserve officials continued to push back against a near-term start to interest rate cuts. On Thursday evening, Fed Governor Christopher Waller said U.S. Federal Reserve pol ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $1.732 on Thursday, February 22nd

February 23, 2024
Thursday, February 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $1.698, nearly eight cents below Wednesday’s closing price of $1.773. Ascending to $1.732 by 9:35AM, prices withdrew to trade near $1.710 ahead of the weekly storage publication. Sinking to rec ... Read More

The Market Continued to Trend Higher on News of a Missile Attack on a Cargo Ship

February 23, 2024
Recap:  The oil market rallied higher on Thursday on continued tensions in the Middle East. In overnight trading, the market continued to trend higher on news of a missile attack on a cargo ship off the southern coast of Yemen that prompted U.S.-led naval forces to respond. The m ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $1.773 on Wednesday, February 21st

February 22, 2024
Wednesday, February 21st saw the front-month NYMEX Natural Gas Futures Contract open at $1.770, nineteen cents above Tuesday’s closing price of $1.576. A major natural gas producer announced a planned reduction in active rigs in the coming year, sparking a rally that would peak m ... Read More

The Crude Market Rallied Higher Ahead of the Release of the Federal Reserve's Last Meeting in February

February 22, 2024
Recap:  The oil market traded higher as the market remained well supported by the continuing geopolitical tensions in the Middle East. The market traded lower in overnight trading, posting a low of $76.32 as the market was weighed by the uncertain outlook for global demand. Howev ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $1.576 on Tuesday, February 20th

February 21, 2024
Tuesday, February 20th saw the front-month NYMEX Natural Gas Futures Contract open at $1.584, roughly two cents below Friday’s closing price of $1.609. Knocked down over the long weekend due to increasingly bearish forecasts to close out the month, prices rose to an intraday high ... Read More

The Market Weighed an Uncertain Outlook For Global Demand Against the Risk Premium From the Continuing Israeli-Hamas Conflict

February 21, 2024
Recap:  The March WTI contract posted an outside trading day on Tuesday morning, ahead of its expiration at the close, as the market weighed an uncertain outlook for global demand against the risk premium from the continuing Israeli-Hamas conflict. During Monday’s shortened tradi ... Read More
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The Oil Market on Friday Continued on its Upward Trend as Geopolitical Tensions in the Middle East Outweighed the IEA’s Forecast

February 20, 2024
Recap: The oil market on Friday continued on its upward trend as geopolitical tensions in the Middle East outweighed the IEA’s forecast released on Thursday showing slowing demand. Gaza’s largest functioning hospital was under siege in Israel’s war with Islamist group Hamas, as w ... Read More
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March NYMEX Natural Gas Futures Contract Closed at $1.609 on Friday, February 16th

February 20, 2024
Friday, February 16th saw the front-month NYMEX Natural Gas Futures Contract open at $1.608, four cents below Thursday’s closing price of $1.581. Recording the intraday low of $1.590 within minutes to the open, the contract traded along $1.615 throughout the day as market fundame ... Read More

March NYMEX Natural Gas Futures Contract Closed at $1.581 on Thursday, February 15th

February 16, 2024
Thursday, February 15th saw the front-month NYMEX Natural Gas Futures Contract open at $1.667, four cents below Wednesday’s closing price of $1.609. Marking the intraday high as markets opened, prices stepped lower to trade along $1.620 leading up to the weekly storage publicatio ... Read More
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