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Concern Over Tight Supplies was Outweighed by Escalating Fear of Sharp Interest Rate Hikes

September 19, 2022
Recap:  Oil prices dipped in early trade on Friday, extending the week's losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. The market was also rattled this week by the International E ... Read More
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Oil Futures Declined on Thursday, with U.S. Prices Settling at Their Lowest in a Week

September 16, 2022
Recap: Oil futures declined on Thursday, with U.S. prices settling at their lowest in a week. Oil fundamentals are still mostly bearish as China's demand outlook remains a big question mark and as the inflation fighting seems poised to weaken the U.S. economy. October WTI crude f ... Read More
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Biden Administration May Consider Refilling the Nation's Strategic Petroleum Reserve

September 15, 2022
Recap: Oil futures settled higher on Wednesday, buoyed in part by a report from Bloomberg Tuesday that said the Biden administration may consider refilling the nation's Strategic Petroleum Reserve when crude prices dip below $80 a barrel. Also adding to the rise in prices was a s ... Read More
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The Oil Market Posted an Outside Trading Day After the Market Traded Lower

September 14, 2022
Recap:  On Tuesday, the oil market posted an outside trading day after the market traded lower, reversing its earlier gains as U.S. consumer prices unexpectedly increased in August. The oil market breached its previous high of $89.10 and posted a high of $89.31 early in the morni ... Read More
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Oil Futures Extend Gains as Commodity Prices Rise Amid a Weakening of the Dollar

September 13, 2022
Recap: Oil futures extend gains as commodity prices rise amid a weakening of the dollar. WTI crude is up 2.6% to $89.10 a barrel. Concerns about global demand remain as central banks slam the breaks to cool inflation, while investors watch for possible OPEC+ production cuts. Whil ... Read More
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Sentiment is Being Supported by News that the IEA has Upgraded its Global Oil Demand Outlook

September 12, 2022
Recap:  Oil prices traded higher on Friday after rebounding from earlier losses. Sentiment is being supported by news that the IEA has upgraded its global oil demand outlook for the next two quarters as electricity suppliers, particularly in Europe, could now switch to oil-based ... Read More
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Oil Futures Rebounded on Thursday, but Remained Near Eight-Month Lows

September 9, 2022
Recap: Oil futures rebounded on Thursday, but remained near eight-month lows, as China’s extension of COVID restrictions exacerbated concerns a slowdown in global economic activity would hit fuel demand. Prices also garnered support from Russian President Vladimir Putin’s threat ... Read More
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Oil Futures Fell on Wednesday to Their Lowest Level in Eight Months

September 8, 2022
Recap:  Oil futures fell on Wednesday to their lowest level in eight months, as concerns intensified that a global economic downturn will hurt demand for energy. The economically disappointing news came out of China, as Chinese trade data sparked investor concerns about recession ... Read More
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Oil Futures Were Widely Mixed, With U.S. Oil Futures Ending Little Changed

September 7, 2022
Recap:  Oil futures were widely mixed, with U.S. oil futures ending little changed on Tuesday, as U.S. traders, who were off for a the U.S. Labor Day holiday, reacted to a decision by OPEC+ to reduce production by 100,000 barrels per day in October. This decision reversed Septemb ... Read More
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Traders Squared Positions Ahead of the Long U.S. Labor Day Weekend

September 6, 2022
Recap:  Crude oil futures jumped on Friday as traders squared positions ahead of the long U.S. Labor Day weekend and Monday’s OPEC+ meeting at which members are expected to discuss production cuts. Oil futures also extended gains after the Group of Seven finance ministers agreed ... Read More
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