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This weeks inventory report is expected to show a draw of 1.4 million barrels in US crude oil stocks

April 18, 2018
Recap: The absence of new fundamentals in the world of oil fostered additional retreats from last week’s move to a three year high. After opening slightly above unchanged, May WTI reversed to the downside, and slipped below $66.00 a barrel for the first time in almost a week. Aft ... Read More
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Oil prices gradually lost ground as concern over airstrikes in Syria began to ease

April 17, 2018
Recap: Oil prices opened the session trading unchanged, but gradually lost ground as concern over airstrikes in Syria began to ease. May WTI fell 2 cents shy of reaching Friday’s high of $67.76 before reversing to the downside. It didn’t take long for this soon to expire contract ... Read More
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The IEA reported that it expects the world's demand for oil to increase by 1.5 million bpd in 2018

April 16, 2018
Recap: Following Thursday’s inside trading, the oil market on Friday traded higher ahead of the weekend.  The market opened 11 cents higher at $67.18 and traded mostly sideways before it breached its previous highs and rallied to a high of $67.76 in overnight trading.  The market ... Read More
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The crude oil market remained near its highs last seen in December 2014

April 13, 2018
Recap: The crude oil market posted an inside trading day, but remained near its highs last seen in December 2014 on geopolitical risks.  The market was supported by worries over military escalation in Syria, amid reports of potential action by Western countries in Syria, while Pr ... Read More
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EIA report showed an increase in US oil production to a new record level of 10.525 million bpd

April 12, 2018
Recap: The oil market continued to trend higher on Wednesday and traded to its highest level since late 2014 amid rising tensions in the Middle East.  The market opened up 8 cents at $65.59 and posted a low of $65.15 as it gave up some of Tuesday’s sharp gains.  However, the mark ... Read More
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The crude market breached its previous highs and extended Monday’s gains

April 11, 2018
Recap: The oil market opened 12 cents lower at $63.30 as it retraced some of Monday’s sharp gains.  The market posted a low of $63.20 but quickly bounced off that level and never looked back.  The crude market breached its previous highs and extended Monday’s gains as investors b ... Read More
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The market was well supported by a rebound in the stock market as concerns over a trade war between the US and China eased

April 10, 2018
Recap: The crude market on Monday posted an inside trading day as it retraced Friday’s losses. The market was well supported by a rebound in the stock market as concerns over a trade war between the US and China eased.  Trump administration officials said over the weekend that th ... Read More
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The market was pressured due to the threat of new tariffs on imports from China

April 9, 2018
Recap: The oil market opened 16 cents higher and quickly posted a high of $63.79 on the opening before the market erased its gains and traded lower.  The market was once again pressured after threat of new tariffs on China reignited fears of a trade war between the US and China.  ... Read More
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The oil market erased some of its gains and settled in a sideways trading pattern

April 6, 2018
Recap: The oil market retraced its previous losses on Thursday on improving market sentiments as signs emerged that the trade dispute is easing between the US and China.  Global equities rose after the US expressed willingness to negotiate a resolution on trade after proposed US ... Read More
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Oil prices remained below unchanged as the tariff war between the U.S. and China heated up

April 5, 2018
Recap: Despite the unexpected fall in U.S. crude oil stocks, oil prices remained below unchanged as the tariff war between the U.S. and China heated up. Commodity markets across the board were under pressure, as were stocks, after China said it would impose tariffs on several U.S ... Read More
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