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Oil prices suffered an early morning hit after a report showed that U.S. retail sales fell 1.2 percent

February 15, 2019
Recap: After rising for the third straight session, oil prices suffered an early morning hit after the U.S. Commerce Department released a report showing U.S. retail sales fell 1.2 percent, the largest decline since September 2009. Brent, which rose to a fresh high for the year, ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.575 on Wednesday, February 13th

February 14, 2019
Wednesday, February 13th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.594, roughly nine cents below Tuesday’s closing price of $2.688.  Seesawing along either side of $2.590 through the balance of the morning, prices eventually scaled upwards to tally an int ... Read More

There was a 3.6 million barrel increase in U.S. crude oil inventories

February 14, 2019
Recap: Oil prices rose on Wednesday after Saudi Arabia announced that it would make further production cuts and lower its exports of crude oil. March WTI rose 2.8 percent, to a high of $54.60 a barrel, while April Brent rose 2.4 percent to $63.98 a barrel. Gains were kept at bay ... Read More
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OPEC cut its oil output by 797,000 bpd on the month to 30.806 million bpd

February 13, 2019
Recap: The oil market traded higher following the OPEC’s monthly report showing that the producer group cut its crude production sharply in January.  It reported that OPEC cut its oil output by 797,000 bpd on the month to 30.806 million bpd, down from 31.6 million bpd in December ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.642 on Monday, February 11th

February 12, 2019
Monday, February 11th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.727, fourteen cents above Friday’s closing price of $2.583.  Extending to the intraday high of $2.744 as markets opened, prices were quick to return to last week’s bearish trend and fell belo ... Read More

The U.S. and China aren’t any closer to a trade agreement

February 12, 2019
Recap: WTI fell to fresh three week lows on Monday, as it became more apparent that the U.S. and China aren’t any closer to a trade agreement. While Beijing struck an upbeat note, it also expressed anger at a U.S. Navy mission through the disputed South China Sea. This cast a sha ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.583 on Friday, February 8th

February 11, 2019
Friday, February 8th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.586, more than three cents above Thursday’s closing price of $2.551.  Trailing downward to the intraday low of $2.558 by 9:40AM, the contract scurried upward through the day in an effort to st ... Read More

Traders have begun to focus on demand and the impact the slowing global economy will have on it

February 11, 2019
Recap: Oil futures traded sideways within a narrow range on Friday, gravitating around the unchanged level for most of the session. Despite Saudi Arabia shaving 400,000 barrels per day of production during the month of January, oil prices remained under pressure. With the OPEC's ... Read More
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March NYMEX Natural Gas Futures Contracts Closed at $2.551 on Thursday, February 7th

February 8, 2019
Thursday, February 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.625, slightly above Wednesday’s closing price of $2.662.  Tallying an intraday high of $2.636 at 9:20AM, prices slid to $2.615 ahead of the 10:30AM storage publication.  Directed downward up ... Read More

WTI fell to its lowest level in more than a week

February 8, 2019
Recap: WTI fell to its lowest level in more than a week amid concerns that the standoff on a trade deal between the U.S. and China is going to continue. The upside correction that began back in the middle of December seems to have reached a stalling point. Prices have been tradin ... Read More
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