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OPEC and non-OPEC agreed to extend their output cuts until March 2020

July 3, 2019
Recap: The oil market on Tuesday fell sharply lower as concerns about the global economy outweighed the OPEC and non-OPEC agreement to extend their output cuts until March 2020.  Growth concerns have recently been stoked by the recent weak manufacturing data.  Also, a tweet by US ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.267 on Monday, July 1st

July 2, 2019
Monday, July 1st saw the front-month NYMEX Natural Gas Futures Contract open at $2.259, five cents below Friday’s closing price of $2.308.  Faltering from last week’s highs as reality fell short of bullish forecasts, the contract tapered lower throughout the morning to tally an i ... Read More

The oil market rallied higher on Monday morning

July 2, 2019
Recap: The oil market rallied higher on Monday morning as OPEC and non-OPEC producers looked set to extend their supply cuts until at least the end of 2019.  The crude market posted a high of $60.28, where it held resistance during the rest of the session.  However, the market er ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.308 on Friday, June 28th

July 1, 2019
Friday, June 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.312, a penny below Thursday’s closing price of $2.324.  Riding the previous session’s storage induced momentum early on, prices rose to a ten-day intraday high of $2.364 by 9:20AM.  Returning to o ... Read More

The EIA reported that US oil production in April increased to a new monthly high of 12.16 million bpd

July 1, 2019
Recap: With the G20 summit and the OPEC meeting just days away, WTI hovered close to the $60.00 level for most of the session, while Brent held near $67.00 a barrel. All eyes and ears will be on the U.S. and China as to how the two countries can resolve trade issues that have dam ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.324 on Thursday, June 27th

June 28, 2019
On Thursday, June 27th – the August NYMEX Natural Gas Futures Contract began trading as the prompt month.  Opening at $2.282, slightly above Wednesday’s closing price of $2.268.  Slipping to an intraday low of $2.275 by 9:20AM, prices recovered to $2.295 in the hour leading up to ... Read More

Talks taking place at the G-20 summit overshadowed tensions between the U.S. and Iran.

June 28, 2019
Recap: WTI experienced another failed attempt to trade above $60.00 a barrel on Thursday, as prices retreated from multi-week highs. Eyes were on trade talks taking place at the G-20 summit, which overshadowed tensions between the U.S. and Iran. In early trading, August WTI fell ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $2.291 on Wednesday, June 26th

June 27, 2019
On Wednesday, June 26th – settlement day for the July contract – the front-month NYMEX Natural Gas Futures Contract opened at $2.293, nearly two cents below Tuesday’s closing price of $2.308.  In a day of light trading, prices rose to an intraday high of $2.324 at 10:20AM and fel ... Read More

The EIA reported a weekly drop of nearly 13 million barrels in U.S. crude oil stocks

June 27, 2019
Recap: WTI futures climbed almost 3% on Wednesday, as the EIA reported a weekly drop of nearly 13 million barrels in U.S. crude oil stocks, the largest drop since September 2016. Analysts had expected a 2.5 million barrel draw. August WTI fell shy of hitting $60.00 a barrel, as t ... Read More
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July NYMEX Natural Gas Futures Contract Closed at $2.308 on Tuesday, June 25th

June 26, 2019
Tuesday, June 25th saw the front-month NYMEX Natural Gas Futures Contract open at $2.284, two cents below Monday’s closing price of $2.303.  Lacking support early on following the previous session’s weather induced ascent, as early July demand forecasts improved, prices fell to a ... Read More
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