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Oil Futures Began Wednesday's Trading Session Trading to the Upside but Quickly Plummeted

August 4, 2022
Recap: Oil futures began Wednesday’s session trading to the upside but quickly plummeted after the EIA reported unexpected builds in both U.S. crude oil and gasoline inventories and after OPEC+ said it would raise its oil output target. The fact that gasoline inventories increase ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $8.266 on Wednesday, August 3rd

August 4, 2022
Wednesday, August 3rd saw the September NYMEX Natural Gas Futures Contract open at $7.745, four cents above Tuesday’s closing price $7.706. Trading within a ten-cent range of $7.650 through 1:00PM, marking the intraday low of $7.550 at 11:10AM, the contract mounted a steep ascent ... Read More

Oil Futures Rose about 0.50% on Tuesday, Trimming a Larger Intraday Gain

August 3, 2022
Recap: Oil futures rose about 0.50% on Tuesday, trimming a larger intraday gain, as traders worried that this week's meeting of OPEC+ producers may not lead to a further boost in crude supply. The Organization of the Petroleum Exporting Countries and allies including Russia, know ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $7.706 on Tuesday, August 2nd

August 3, 2022
Tuesday, August 2nd saw the September NYMEX Natural Gas Futures Contract open at $7.960, thirty-two cents below Monday’s closing price of $8.283. Losing ground overnight, updated forecasting models had shed notable expected cooling demand by mid-month, putting an end to the seemi ... Read More

September NYMEX Natural Gas Futures Contract Closed at $8.283 on Monday, August 1st

August 2, 2022
Monday, August 1st saw the September NYMEX Natural Gas Futures Contract open at $7.911, thirty-two cents below Friday’s closing price of $8.229. Recording the intraday low of $7.753 by 9:15AM, the contract chopped around $7.975 as weekend weather forecasts reduced the amount of e ... Read More

Weak Manufacturing Data in Several Countries Weighed on the Demand Outlook

August 2, 2022
Recap: Oil futures fell sharply on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply. Fears of an economic slowdown grew as factories across the U.S., Europ ... Read More
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Baker Hughes Showed that U.S. Drillers Added Crude Rigs for a Record 23 Months in a Row

August 1, 2022
Recap: Oil futures rose by almost 6% on Friday as attention turned to next week’s OPEC+ meeting and dimming expectations that the producer group will boost supply. Gains were pared after Baker Hughes showed that U.S. drillers added crude rigs for a record 23 months in a row, indi ... Read More
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September NYMEX Natural Gas Futures Contract Closed at $8.229 on Friday, July 29th

August 1, 2022
Friday, July 29th saw the September NYMEX Natural Gas Futures Contract open at $8.224, nine cents above Thursday’s closing price of $8.134. Marking the intraday high of $8.366 by 9:15AM, the contract fell to the intraday low of $8.001 at 10:25AM. Weighing the impact of domestic c ... Read More

September NYMEX Natural Gas Futures Contract Closed at $8.134 on Thursday, July 28th

July 29, 2022
Thursday, July 28th saw the September NYMEX Natural Gas Futures Contract open at $8.602, five cents above Wednesday’s closing price of $8.554. Seeking direction along either side of $8.600 heading into 10:30AM, prices jumped to an intraday high of $8.845 as the weekly report hit ... Read More

U.S. Commercial Crude-Oil Stockpiles Fell by the Most in Nearly Two Months

July 29, 2022
Recap:  Oil prices jumped more than 2% on Thursday, and were up $5 this week after yesterday's EIA report showed US commercial crude-oil stockpiles fell by the most in nearly two months, and gasoline demand surged by 724k bpd to 9.2M bpd. Demand for gasoline is approaching levels ... Read More
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