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Talks taking place at the G-20 summit overshadowed tensions between the U.S. and Iran.

June 28, 2019
Recap: WTI experienced another failed attempt to trade above $60.00 a barrel on Thursday, as prices retreated from multi-week highs. Eyes were on trade talks taking place at the G-20 summit, which overshadowed tensions between the U.S. and Iran. In early trading, August WTI fell ... Read More
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The EIA reported a weekly drop of nearly 13 million barrels in U.S. crude oil stocks

June 27, 2019
Recap: WTI futures climbed almost 3% on Wednesday, as the EIA reported a weekly drop of nearly 13 million barrels in U.S. crude oil stocks, the largest drop since September 2016. Analysts had expected a 2.5 million barrel draw. August WTI fell shy of hitting $60.00 a barrel, as t ... Read More
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The API reported a 7.5 million barrel draw in U.S. crude oil stocks

June 26, 2019
Recap: Oil prices received an early morning jolt after U.S. President Donald Trump warned Iran against attacking “anything American” and as traders awaited the release of U.S. data which is expected to show a decline in crude oil stockpiles. August WTI rose 48 cents, or 0.8%, to ... Read More
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Oil prices rose for the third straight session

June 25, 2019
Recap: Oil prices rose for the third straight session on Monday as tensions between the U.S. and Iran overshadowed earlier concern over waning demand. August WTI was trading at $56.75 a barrel by 11:30 am EST, down 68 cents, or 1.1%, but began a slow and steady ascent above $58.0 ... Read More
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A fire at the Philadelphia Energy Solution's refinery caused an impressive move in gasoline

June 24, 2019
Recap: The big news on Friday was the fire at Philadelphia Energy Solution’s refinery that was ignited by a series of explosions shortly after 3 a.m. The refinery processes 335,000 barrels of crude oil every day at two plants in the complex — Girard Point and Point Breeze. The fi ... Read More
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Oil prices jumped as much as 6% on Thursday

June 21, 2019
Recap: Oil prices jumped as much as 6% on Thursday after Iran shot down a U.S. military drone near the Strait of Hormuz, raising fears of a military confrontation between the two countries. August WTI rose $3.40, or 6.2%, to $57.37 a barrel by 11:02 a.m. EST, while August Brent s ... Read More
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The EIA reported a larger than expected drawdown in U.S. crude oil stocks

June 20, 2019
Recap: Oil prices shot to the upside after the EIA reported a larger than expected drawdown in U.S. crude oil stocks, the first in three weeks. August WTI, which was trading at $53.67 just prior to the release of the report, jumped 86 cents to a midsession high of $54.53 a barrel ... Read More
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Oil prices posted sharp gains on Tuesday

June 19, 2019
Recap: Oil prices posted sharp gains on Tuesday after U.S. President Donald Trump announced he would hold an extensive meeting with Chinese President Xi Jinping at the G20 summit to be held later this month. The potential for a trade agreement between the two countries pushed Aug ... Read More
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Traders mulled over last week’s decision by the IEA to lower its 2019 forecast for global demand

June 18, 2019
Recap: Oil prices slid on Monday after poor Chinese economic data heightened fears of lower worldwide demand and as traders mulled over last week’s decision by the IEA to lower its 2019 forecast for global demand, making it the second straight month the organization has lowered i ... Read More
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An attack on two tankers in the Gulf of Oman raised concerns about potential supply disruptions

June 17, 2019
Recap: Oil prices posted modest gains on Friday, a day after an attack on two tankers in the Gulf of Oman raised concerns about potential supply disruptions. Gains were kept contained after the IEA cut its global oil demand forecast, while referencing “plentiful” supply to meet g ... Read More
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