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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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Oil prices received an early boost from higher equity markets and OPEC lead production cuts

February 1, 2019
Recap: Trading in oil prices was mixed on Thursday, with March Brent holding onto early gains and March WTI falling from its highs of the month. After rising by more than 20 percent on the month, WTI fell back below unchanged. Prices received an early boost from higher equity mar ... Read More
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The EIA showed a less than expected build in U.S. crude oil inventories

January 31, 2019
Recap: Oil prices rose on Wednesday after the EIA report showed a less than expected build in U.S. crude oil inventories. Market analysts were expecting a build of 3.4 million barrels, while the EIA reported a build of 919,000 barrels. The anemic rise in crude oil stocks was due ... Read More
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Oil prices increased due to U.S. imposed sanctions against Venezuela and Saudi Arabia's pledge to restore balance in the oil market

January 30, 2019
Recap: After falling sharply on Monday, oil prices reversed course on Tuesday, spurred higher by U.S. imposed sanctions against Venezuela and Saudi Arabia’s pledge to restore balance in the oil market. The Saudi Energy Minister stated on Tuesday that his country would be cutting ... Read More
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