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Renewed Fears of a Recession Helped Fuel the Sell-Off

June 23, 2022
Recap: Oil futures fell on Wednesday, with WTI settling at its lowest level in approximately six weeks. Rising demand concerns, the prospect of a U.S. gasoline tax holiday, and renewed fears of a recession helped fuel the sell-off. WTI tumbled early in the session, with the Augus ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $6.808 on Tuesday, June 21st

June 22, 2022
Tuesday, June 21st saw the July NYMEX Natural Gas Futures Contract open at $6.691, twenty-five cents below Friday’s closing price of $6.944. Slipping to an intraday low of $6.652 at 9:45AM, prices then mounted a staggered ascent that would last until peaking at the intraday high ... Read More

Oil Prices Climbed on High Summer Fuel Demand While Supplies Remained Tight

June 22, 2022
Recap:  Oil futures climbed Tuesday, with U.S. prices recouping a portion of the more than 9% loss last week. Oil prices climbed on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Despite concerns over econo ... Read More
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The Markets Remained Concerned About an Economic Slowdown

June 21, 2022
Recap:  The energy complex sold off sharply on Friday, led by the RBOB market, as the markets remained concerned about an economic slowdown. The oil market extended its losses of over $7 as it traded to $110.21 by mid-morning as concerns grow that the interest rate increases coul ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $6.944 on Friday, June 17th

June 20, 2022
Friday, June 17th saw the July NYMEX Natural Gas Futures Contract open at $7.329, fourteen cents below Thursday’s closing price of $7.464. Tallying the intraday high of $7.439 within minutes of the opening bell, the contract then fell throughout the day as the Freeport LNG incide ... Read More

July NYMEX Natural Gas Futures Contract Closed at $7.464 on Thursday, June 16th

June 17, 2022
Thursday, June 16th saw the July NYMEX Natural Gas Futures Contract open at $7.783, thirty-six cents above Wednesday’s closing price of $7.420. Climbing to the $7.875 level within the day’s opening minutes, prices traded along this mark until the 10:30AM storage publication. Jump ... Read More

The Oil Market on Thursday Morning Continued to Trend Lower

June 17, 2022
Recap: The oil market on Thursday morning continued to trend lower falling to a two-week low on concerns over inflation. The market traded lower overnight after the Federal Reserve raised its key interest rate on Wednesday by 75 basis points. The equities market in Europe was pre ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $7.420 on Wednesday, June 15th

June 16, 2022
Wednesday, June 15th saw the July NYMEX Natural Gas Futures Contract open at $7.512, thirty-two cents above Tuesday’s closing price of $7.189. Rising steadily to an intraday high of $7.698 by 10:20AM, prices recovered from the previous session’s historic selloff as prices waded i ... Read More

U.S. Oil Production Reached Pre-Pandemic Levels

June 16, 2022
Recap:  The oil market continued to drift lower on Wednesday morning on concerns over fuel demand and global economic growth ahead of a large increase in interest rates by the Federal Reserve later in the day and as U.S. oil production reached pre-pandemic levels. The EIA reporte ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $7.189 on Tuesday, June 14th

June 15, 2022
Tuesday, June 14th saw the July NYMEX Natural Gas Futures Contract open at $8.609, even to Monday’s closing price. Marking the intraday high of $8.631 within minutes of the open, the contract then fell off a cliff as representatives from the Freeport LNG facility have updated the ... Read More
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