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Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield

December 12, 2018
Recap: Oil prices rose on Tuesday aided by a rise in global equity markets and after Libya’s National Oil Company declared force majeure on Monday on exports from the El Sharara oilfield. The shutdown of Libya’s largest oilfield is expected to result in a loss of 315,000 barrels ... Read More
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January NYMEX Natural Gas Futures Contracts Closed at $4.545 on Monday, December 10th

December 11, 2018
Monday, December 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.427, six cents below Friday’s closing price of $4.488.  Ascending from the intraday low of $4.416 as markets opened, prices soon rose to the $4.47 level and stabilized through 11:30AM.  Despi ... Read More

OPEC and non-OPEC output cut agreement will be signed in three months' time

December 11, 2018
Recap: The oil market looked ready to post an inside trading day as it failed to breach Friday’s trading range for most of the session.  The crude market opened at $51.02 and posted a high of $52.81 before it retraced its previous gains.  The market breached Friday’s low amid rep ... Read More
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Crude oil futures rallied after OPEC members and nonmembers decided to cut production in January

December 10, 2018
Recap: Crude oil futures rallied on Friday as OPEC members and nonmembers agreed to cut back on production starting in January. After the release of the aforementioned news, January WTI rose by more than 5%, reaching a high of $54.22, while February Brent rose above 6%, to top th ... Read More
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January NYMEX Natural Gas Futures Contracts Closed at $4.488 on Friday, December 7th

December 10, 2018
Friday, December 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.388, six cents above Thursday’s closing price of $4.327.  Setting its sights high out of the gate, the contract reversed a two-day downward trend that saw notable declines.  Shirking off the E ... Read More

January NYMEX Natural Gas Futures Contracts Closed at $4.327 on Thursday, December 6th

December 7, 2018
Thursday, December 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.366, ten cents below Wednesday’s closing price of $4.469.  Retreating from the intraday high of $4.404 as markets opened, prices fell to the intraday low of $4.271 by 10:20AM only to add twe ... Read More

OPEC announced that it was delaying its decision to cut output until it meets with other producers

December 7, 2018
Recap: The 7.3 million barrel draw in U.S. crude oil inventories did little to prop up prices after OPEC announced that it was delaying its decision to cut output until it meets with other producers on Friday. Adding extra pressure was a statement by the Saudi oil minister, stati ... Read More
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January NYMEX Natural Gas Futures Contracts Closed at $4.469 on Wednesday, December 5th

December 6, 2018
Wednesday, December 5th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.547, nine cents above Tuesday’s closing price of $4.457.  Tallying the intraday high of $4.557 within minutes of opening, following an overnight run up, prices scaled lower throughout the m ... Read More

The Joint Ministerial Monitoring Committee agreed on Wednesday on the need to cut oil production in 2019

December 6, 2018
Recap: Oil prices traded in a choppy fashion ahead of the OPEC meeting which is to take place in Vienna. In a continuation of Tuesday’s late sell off, oil prices traded lower at the onset of Wednesday’s session, with January WTI falling as much as 2%, hitting a low of $52.16, whi ... Read More
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January NYMEX Natural Gas Futures Contracts Closed at $4.457 on Tuesday, December 4th

December 5, 2018
Tuesday, December 4th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.561, roughly twenty-two cents above Monday’s closing price of $4.339.  Bounding upward overnight in response to uncertainty surrounding December’s forecast, the contract rose to the intraday ... Read More
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