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Oil prices remain caught between healthy demand, OPEC supply cuts and hefty U.S. production

January 17, 2018
Recap: Oil prices fell for the first time in 7 days, as traders took profits from the recent upswing. Prices remain caught between healthy demand, OPEC led supply cuts and hefty U.S. production. After reaching fresh highs on Monday, both WTI and Brent worked lower on Tuesday, clo ... Read More
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Russia's Foreign Minister stated that Russia will not support attempts by the US to change the Iran nuclear agreement

January 16, 2018
Recap: Please note there are no settlements for Monday, January 15th due to the Martin Luther King, Jr. holiday.  The settlements listed are for Friday, January 12th.  Fundamental News: Russia’s Foreign Minister, Sergei Lavrov, said Russia will not support attempts by the US t ... Read More
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February NYMEX Natural Gas Futures Contracts Closed at $3.200 on Friday, January 11th

January 15, 2018
Friday, January 11th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.141, six cents above Thursday’s closing price of $3.084.  Tumbling down in the first hour of trading, the intraday low of $3.070 was marked at 9:20AM. Regaining four cents by 11:00AM, the cont ... Read More

Oil prices closed at their highest level in over 3 years

January 15, 2018
Recap: Oil prices closed at their highest level in over 3 years, gaining support from geopolitical tensions, increasing demand and declining U.S. stockpiles.  A break below $63.50 in February WTI triggered additional selling, taking this spot contract to just above $63.00. News o ... Read More
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EIA reported that crude stocks fell by 4.948 million barrels on the week

January 12, 2018
Recap: The oil market settled in positive territory for the fourth consecutive session after rallying to its highest level since December 8, 2014 on tightening global crude stocks and after OPEC members said they would continue to cut their production despite the gains in oil pri ... Read More
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February NYMEX Natural Gas Futures Contracts Closed at $3.084 on Thursday, January 11th

January 12, 2018
Thursday, January 11th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.977, seven cents above Wednesday’s closing price of $2.906.  The contract inched upward to exceed the $3.00 mark ahead of the weekly storage publication. The record-breaking withdrawal figur ... Read More

February NYMEX Natural Gas Futures Contracts Closed at $2.906 on Wednesday, January 10th

January 11, 2018
Wednesday, January 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.944, two cents above Tuesday’s closing price of $2.923. A sluggish climb brought the contract to the intraday high of $2.976 by 10:00AM. Prices plummeted shortly thereafter, tumbling down t ... Read More

Oil prices continued to move higher but were contained by the larger than expected increase in product inventories

January 11, 2018
Recap: Oil prices continued to move higher, gaining support from the 4.95 million barrel draw in U.S. crude oil inventories, but the higher move was contained by the larger than expected increase in product inventories. The sharp drop in production pushed prices to their highest ... Read More
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Both WTI and Brent rose to higher levels

January 10, 2018
Recap: With expectations that U.S. crude oil inventories fell for the eighth straight week, WTI rose to its highest level since December 2014 and Brent reached a new 2.5 year high. After opening higher on the day, prices retreated toward unchanged, but bounced on failure to trade ... Read More
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February NYMEX Natural Gas Futures Contracts Closed at $2.923 on Tuesday, January 9th

January 10, 2018
Tuesday, January 9th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.882, five cents above Monday’s closing price of $2.835. Prices gradually took steps downward in the opening hours of trading to reach the intraday low of $2.825 at 10:00AM. With storage withdr ... Read More
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