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Oil prices were supported by tensions in the Middle East and last week's EIA report

July 29, 2019
Recap: Oil prices were pushed higher on Friday, supported by tensions in the Middle East and last week’s EIA report, which indicated U.S. crude oil inventories decreased by 10.4 million barrels during the week ending 7/19/19. Trading was a bit choppy throughout the session, with ... Read More
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Oil prices pared losses from Thursday's session

July 26, 2019
Recap: On Thursday, oil prices pared losses from the previous session, amid rising tensions in the Middle East, but gains were limited by concern over a slowing global economy and its impact on demand. September WTI added $1.11, or 2%, to reach a session high of $56.99 a barrel b ... Read More
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There was a 10.8 million barrel draw in U.S. crude oil inventories

July 25, 2019
Recap: Crude oil prices struggled to find momentum on Wednesday despite the 10.8 million barrel draw in U.S. crude oil inventories. Analysts expected a decrease of 4 million barrels. September WTI rose 84 cents, or 1.5%, to a high of $57.64 a barrel by 10:40 am EST, while Septemb ... Read More
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This weeks API and EIA reports are expected to show a 3.4 million barrel decline in U.S. crude oil inventories

July 24, 2019
Recap: Oil prices have been swinging higher and lower depending on shifting sentiment between the US and Iran as well as from the US-China trade negotiations. On Tuesday, the International Monetary Fund cut its forecast for global growth, warning that further U.S.-China tariffs o ... Read More
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Oil prices rose on Monday, as tensions in the Middle East escalated

July 23, 2019
Recap: Oil prices rose on Monday, as tensions in the Middle East escalated with the seizure of a British tanker by Iran’s Revolutionary Guards. Despite the heightened tensions, rising U.S. production and worries over weak global demand have worked to keep a cap on prices, as the ... Read More
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Prices were supported by rising tensions between the U.S. and Iran

July 22, 2019
Recap: Oil prices firmed on Friday after suffering significant losses on Thursday. Prices were supported by rising tensions between the U.S. and Iran however gains were contained by concerns that a slowing economy will have a negative impact on global demand. August WTI made a fa ... Read More
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The IEA is reducing its 2019 oil demand forecast due to a slowing global economy

July 19, 2019
Recap: After posting early gains on increased tensions in the Middle East, crude oil futures experienced considerable losses, as prices broke through key technical support levels. Prices had been trading higher early Thursday, after Iran’s Revolutionary Guard said it seized a for ... Read More
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Domestic crude supplies fell for a fifth straight week

July 18, 2019
Recap: Crude oil futures moved lower Wednesday as U.S. government data revealed that domestic crude supplies fell for a fifth straight week, but the stocks were down by less than the market expected and product inventories climbed. Crude stockpiles were down 3.1 million barrels f ... Read More
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The tensions between the U.S. and Iran appears to be easing

July 17, 2019
Recap: After firming in early morning trading, oil prices turned lower on Tuesday, as U.S. offshore production resumed after Hurricane Barry and as tensions between the U.S. and Iran appeared to be easing. In early morning trading August WTI tacked on 48 cents, to trade at a sess ... Read More
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Oil prices turned lower on Monday

July 16, 2019
Recap: Oil prices turned lower on Monday, as the impact of a tropical storm on U.S. Gulf Coast production and refining appeared to be less than expected and on mixed economic data out of China. Hurricane Barry was downgraded to a tropical depression, and as a result, refineries i ... Read More
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