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U.S. drillers continue to add to their active rig count, which is currently set at 824

May 1, 2018
Recap: At the onset of trading, oil prices came under pressure, weighed down by rising U.S. production, as U.S. drillers continue to add to their active rig count, which is currently set at 824, the highest level since March 2015. Light profit taking came into play, pushing June ... Read More
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Oil prices reversed gains made on Thursday and Friday

April 30, 2018
Recap: Oil prices moved lower on Friday, reversing gains made on Thursday and Friday. After rising early in the session, prices reversed course as traders, prompted by strength in the dollar and weakness in equities, began to take profits. WTI continues to hover around its 10-day ... Read More
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Prices will likely remain on the defensive, while the world awaits US President Donald Trump's decision on Iran

April 27, 2018
Recap: Oil prices peaked in overnight trading as traders weighed in on strong Asian demand, the possibility that the U.S. would once again wage sanctions on Iran, geopolitical risk and OPEC lead production cuts. Despite the retreat from recent highs, the underlying tone remains s ... Read More
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Oil prices rebounded along with equities, achieving new highs for the session

April 26, 2018
Recap: The market’s reaction to the surprise build in U.S. crude oil and gasoline stockpiles was short lived, having been overshadowed by geopolitical tensions, heightened demand and OPEC lead production cuts. After a brief run at fresh lows, oil prices rebounded along with equit ... Read More
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Prices succumbed to pressure provided by a falling stock market

April 25, 2018
Recap: Oil prices rose above unchanged early in the session, supported by geopolitical strife, OPEC lead production cuts and robust demand. June WTI rose to a high of $69.83 a barrel, while June Brent rose to $75.47 a barrel, its highest level since November 2014. After a brief s ... Read More
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The oil market was pressured after Iran said there would be no need to extend its production cut agreement

April 24, 2018
Recap:  The oil market posted an outside trading day as the market was pressured after Iran said there would be no need to extend its production cut agreement and supported by fears that US sanctions could dampen Iran’s output.  The market fell to a low of $67.14 early in the ses ... Read More
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Oil prices slipped from 3-year highs

April 23, 2018
Recap: Oil prices slipped from 3-year highs after U.S. President Donald Trump expressed his concern over what he termed “artificially” high oil prices. In a quick response, OPEC members said that prices were responding to strong Asian demand, amidst output cuts by OPEC members an ... Read More
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Oil prices relinquished gains despite the bullish sentiment

April 20, 2018
Recap: After posting fresh 3 and half year highs, oil prices relinquished gains despite the bullish sentiment. May WTI climbed to a high of $69.55 a barrel, its highest level since December 2014. While speculators continue to wage their bets on higher prices, the sharp move to th ... Read More
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Oil prices gradually moved higher in overnight trading

April 19, 2018
Recap: Oil prices began the session trading slightly above unchanged, gradually moving higher in overnight trading. Across the board declines in U.S. petroleum stocks halted an early morning retreat, propelling oil prices to their highest level since December of 2014. May WTI jum ... Read More
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This weeks inventory report is expected to show a draw of 1.4 million barrels in US crude oil stocks

April 18, 2018
Recap: The absence of new fundamentals in the world of oil fostered additional retreats from last week’s move to a three year high. After opening slightly above unchanged, May WTI reversed to the downside, and slipped below $66.00 a barrel for the first time in almost a week. Aft ... Read More
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