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A global oversupply of oil has been almost eliminated

May 15, 2018
Recap: According to an OPEC report put out on Monday, the global oil glut has almost been eliminated; however, its members and outside participants in the cuts continue to operate at lower rates. This pushed oil prices higher, with Brent reaching its highest level since November ... Read More
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June NYMEX Natural Gas Futures Contracts Closed at $2.842 on Monday, May 14th

May 15, 2018
Monday, May 14th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.813, nearly a penny above Friday’s closing price of $2.806.  Slipping to the intraday low of $2.798 by 9:20AM, the contract soon regained its footing to reach $2.830 twenty minutes later and conti ... Read More

June NYMEX Natural Gas Futures Contracts Closed at $2.806 on Friday, May 11th

May 14, 2018
Friday, May 11th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.809, slightly below Thursday’s closing price of $2.814.  Starting the day on the back foot, following Thursday’s above average injection to storage, prices stumbled down to the intraday low of $2. ... Read More

US drillers added 10 rigs to their count, bringing the total number to 844

May 14, 2018
Recap: Oil prices held near multi-year highs despite U.S. energy companies adding to the number of active oil rigs for the sixth straight week. According to Baker-Hughes U.S. drillers added 10 rigs to their count, bringing the total number to 844, the highest level since March 20 ... Read More
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Analysts at BofA Merrill Lynch put out a report calling for the possibility of Brent reaching $100 dollars

May 11, 2018
Recap: After posting early gains, oil prices slipped on Thursday as traders decided to take profits after Tuesday’s wild session and Wednesday’s follow through to the upside. The downside was limited as market participants continue to grapple with the situation in Venezuela amid ... Read More
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June NYMEX Natural Gas Futures Contracts Closed at $2.814 on Thursday, May 10th

May 11, 2018
Thursday May 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.733, just below Wednesday’s closing price of $2.737.  Climbing to the $2.77 mark shortly after markets opened, the contract stabilized near $2.765 ahead of the 10:30 storage report.  Spiking high ... Read More

Oil prices rose more than 3 percent due to the US pulling out of the Iranian nuclear deal

May 10, 2018
Recap: Oil prices, still reeling from the U.S. pull out of the Iranian nuclear deal rose more than 3 percent to their highest level in 3 1/2 years, reversing Tuesday’s losses. The larger than expected 2.2 million barrel drawdown in U.S. crude oil inventories gave the market an ex ... Read More
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June NYMEX Natural Gas Futures Contracts Closed at $2.732 on Tuesday, May 8th

May 9, 2018
Tuesday, May 8th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.760, two cents above Monday’s closing price of $2.741.  Posting gains once again in pre-market trading, prices rose to the intraday high of $2.764 shortly after 9:00AM.  Trailing downward to mark ... Read More

Oil prices fell by more than 3% within a 7 minute span on Tuesday

May 9, 2018
Recap: Oil prices had a wild ride on Tuesday, falling by more than 3% within a 7 minute span; with July Brent trading over 100,000 contracts in a 1 hours’ time. This spot contract slipped to a low of $73.10 before regaining traction. June WTI slipped equally as much, falling to a ... Read More
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June NYMEX Natural Gas Futures Contracts Closed at $2.741 on Monday, May 7th

May 8, 2018
Monday, May 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.745, three cents above Friday’s closing price of $2.711.  Finding value in the recently diminished market, a bout of buying drove the contract to the intraday high of $2.769 soon after markets open ... Read More
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