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Oil prices suffered an early morning hit after a report showed that U.S. retail sales fell 1.2 percent

February 15, 2019
Recap: After rising for the third straight session, oil prices suffered an early morning hit after the U.S. Commerce Department released a report showing U.S. retail sales fell 1.2 percent, the largest decline since September 2009. Brent, which rose to a fresh high for the year, ... Read More
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There was a 3.6 million barrel increase in U.S. crude oil inventories

February 14, 2019
Recap: Oil prices rose on Wednesday after Saudi Arabia announced that it would make further production cuts and lower its exports of crude oil. March WTI rose 2.8 percent, to a high of $54.60 a barrel, while April Brent rose 2.4 percent to $63.98 a barrel. Gains were kept at bay ... Read More
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OPEC cut its oil output by 797,000 bpd on the month to 30.806 million bpd

February 13, 2019
Recap: The oil market traded higher following the OPEC’s monthly report showing that the producer group cut its crude production sharply in January.  It reported that OPEC cut its oil output by 797,000 bpd on the month to 30.806 million bpd, down from 31.6 million bpd in December ... Read More
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The U.S. and China aren’t any closer to a trade agreement

February 12, 2019
Recap: WTI fell to fresh three week lows on Monday, as it became more apparent that the U.S. and China aren’t any closer to a trade agreement. While Beijing struck an upbeat note, it also expressed anger at a U.S. Navy mission through the disputed South China Sea. This cast a sha ... Read More
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Traders have begun to focus on demand and the impact the slowing global economy will have on it

February 11, 2019
Recap: Oil futures traded sideways within a narrow range on Friday, gravitating around the unchanged level for most of the session. Despite Saudi Arabia shaving 400,000 barrels per day of production during the month of January, oil prices remained under pressure. With the OPEC's ... Read More
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WTI fell to its lowest level in more than a week

February 8, 2019
Recap: WTI fell to its lowest level in more than a week amid concerns that the standoff on a trade deal between the U.S. and China is going to continue. The upside correction that began back in the middle of December seems to have reached a stalling point. Prices have been tradin ... Read More
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EIA reported that domestic crude oil inventories rose 1.3 million barrels

February 7, 2019
Recap: After two consecutive down days, oil prices reversed course, as U.S. crude oil supplies rose less than expected. According to the EIA report, domestic crude oil inventories rose 1.3 million barrels for the week ended Feb 1, much smaller than the expected 3.7 million barrel ... Read More
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Oil prices continued to pull back from two-month highs

February 6, 2019
Recap: Oil prices continued to pull back from two-month highs, pressured by global economic woes, strength in the dollar and expectations that U.S. crude oil inventories increased last week. Prices opened the session trading above unchanged, but once again failed above the $50.00 ... Read More
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Strength in equity markets and geopolitical tensions helped lift oil prices off the lows of the day

February 5, 2019
Recap: After finishing Friday at their highest level since November, oil prices slipped on Monday, hammered by disappointing U.S. factory data, and signs that U.S. crude oil inventories held at Cushing. March WTI fell as much as 3.5 percent, to a low of $53.29, while Brent for Ap ... Read More
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Oil prices gained strength from a positive jobs report out of the U.S.

February 4, 2019
Recap: Oil prices bounced back Friday, gaining strength from a positive jobs report out of the U.S. and on signs that U.S. sanctions on Venezuelan exports are adding to tightness in the market. Once March WTI broke above $53.91, the top of the sideways trading pattern formed in o ... Read More
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