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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

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

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

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

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

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

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

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

Supply Has Been Slowly Increasing, Largely Due to the U.S. Shale Boom

September 2, 2022
Recap:  Crude oil futures fell by more than 3% on Thursday, as thoughts of a global economic slowdown instilled demand fear in traders. Western demand for oil, as well as demand from China, has been stagnant, while supply has been slowly increasing, largely due to the U.S shale b ... Read More

The Headline Number to the EIA's Weekly Inventory Report Show a Bullish 3.3 Million Barrel Drop in U.S. Crude Oil Supplies

September 1, 2022
Recap:  Oil futures fell for the second straight session, down 7.7% over the past two sessions, the largest two-day drop in nearly two months. The headline number to the EIA’s weekly inventory report show a bullish 3.3 million barrel drop in U.S. crude oil supplies, but investors ... Read More
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