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Prices were supported by expectations that global supplies will tighten

April 5, 2019
Recap: After a brief stint to the downside, oil prices reverted to the upside, with June Brent rising above $70.00 a barrel and May WTI edging toward $63.00 a barrel. Prices were supported by expectations that global supplies will tighten and signs of increasing demand as refiner ... Read More
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The EIA reported an unexpected 7.2 million barrel build in U.S. crude oil inventories

April 4, 2019
Recap: Oil prices fell from 5 month highs after the EIA reported an unexpected 7.2 million barrel build in U.S. crude oil inventories for the week of March 29. This compares to the expected 1.2 million barrel draw. Trading was choppy, as prices opened the session trading to the u ... Read More
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Prices were propelled by the possibility of additional sanctions against Iran and continued supply disruptions in Venezuela

April 3, 2019
Recap: On Tuesday, oil prices posted fresh highs for 2019, with June Brent hitting a high of $69.51 and May WTI topping the session at $62.75. Prices were propelled by the possibility of additional sanctions against Iran and continued supply disruptions in Venezuela. So far this ... Read More
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Oil prices rose as much as 2.6 percent on Monday

April 2, 2019
Recap: Oil prices rose as much as 2.6 percent on Monday, with May WTI rising to a high of $61.72 a barrel, and May Brent reaching a high of $69.19 a barrel. Prices were exalted by upbeat global economic news and tighter supplies. Both China and the U.S. reported positive manufact ... Read More
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Crude oil markets are on track for their largest quarterly gain since 2009

April 1, 2019
Recap: OPEC led supply cuts along with U.S. sanctions against Iran and Venezuela pushed oil prices higher on Friday, putting crude oil markets on track for their largest quarterly gain since 2009. Strong quarterly gains follow the 38 percent drop seen in the last quarter of 2018. ... Read More
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U.S. President Donald Trump called on OPEC to boost output in an effort to lower prices

March 29, 2019
Recap: Oil prices slipped on Thursday, as U.S. President Donald Trump called on OPEC to boost output in an effort to lower prices, which are set to finish with their best quarterly gains in a decade. Futures hit a session low immediately following Trump’s comments, but worked the ... Read More
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EIA reported a surprise build in U.S. crude oil inventories

March 28, 2019
Recap: Oil prices headed lower on Wednesday after the EIA reported a surprise build in U.S. crude oil inventories. May WTI fell $1.24, as it slowly slipped to a session low of $58.81 a barrel after the report showed a 2.8 million barrel build in crude oil stockpiles. Analysts wer ... Read More
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Traders responded to news about falling exports out of Venezuela and Iran

March 27, 2019
Recap: WTI continued its gravitational pull toward $60.00 a barrel, as geopolitical strife outweighed economic concern. Traders responded to an array of news which included falling exports out of Venezuela and Iran, tensions heating up along the Gaza Strip and expectations that U ... Read More
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Oil prices staged a comeback as investors focused on tighter supplies and falling U.S. crude oil inventories

March 26, 2019
Recap: Oil prices were mostly flat on Monday due to a lack of fresh fundamentals. After opening the session trading below unchanged, oil prices staged a comeback as investors focused on tighter supplies and falling U.S. crude oil inventories. By 11:56 EST, May WTI rose to a sessi ... Read More
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Oil prices pulled back from four month highs

March 25, 2019
Recap: Oil prices continued to slip on Friday, pulling back from four month highs as the dollar and U.S. treasuries rose amidst falling stocks. This appears to have sparked fears of a recession, thereby raising concern regarding demand. After a lower opening, prices attempted to ... Read More
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