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Traders Positioned Themselves Ahead of the Weekend Amid the Possibility of a Ceasefire in Gaza

March 25, 2024
Recap:  The crude market on Friday posted an inside trading day as traders positioned themselves ahead of the weekend amid the possibility of a ceasefire in Gaza. On Thursday, U.S. Secretary of State Antony Blinken said he believed talks in Qatar could reach a Gaza ceasefire agre ... Read More
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Reports of a U.N. Draft Resolution Calling For a Ceasefire in Gaza

March 22, 2024
Recap:  The crude market continued to trend lower on Thursday on reports of a U.N. draft resolution calling for a ceasefire in Gaza. The oil market traded higher in overnight trading amid a weaker U.S. dollar after Federal Reserve officials reaffirmed they see three interest rate ... Read More
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Crude Market Retreats Ahead of Fed Rate Policy Announcement and Contract Expiration

March 21, 2024
Recap:  The crude market on Wednesday erased its recent gains ahead of the April contract’s expiration at the close and as it awaited the Federal Reserve’s interest rate policy announcement. The market remained in negative territory throughout the session after opening at $83.20 ... Read More
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The Market Remained Well Supported By the Ukrainian Attacks Against Some Russian Refineries

March 20, 2024
Recap:  The oil market rallied sharply higher for the second consecutive session on Tuesday as the market remained well supported by the Ukrainian attacks against some major Russian refineries. Ukraine has targeted at least seven refineries with drones this month. The attacks hav ... Read More
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News of Ukraine's Attacks on Russian Energy Infrastructure

March 19, 2024
Recap:  The oil market continued on its upward trend on Monday following Friday’s inside trading day. The market was well supported by news of Ukraine’s attacks on Russian energy infrastructure, with fires breaking out at two refineries over the weekend. The market posted a low o ... Read More
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The Market Was Supported By the IEA's Oil Demand Growth Forecast and An Unexpected Decline in U.S. Inventories

March 18, 2024
Recap:  The crude market on Friday posted an inside trading day as it retraced some of Thursday’s sharp gains and settled down 0.27% on the day. However, the market, which settled on Thursday at a level not seen since November 2nd, ended the week 3.88% higher after it was support ... Read More
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The IEA Raised its Demand Growth Forecast and Lowered its Supply Projection for This Year

March 15, 2024
Recap:  The oil market extended its gains on Thursday amid the IEA outlook suggesting a tighter oil market. The IEA raised its demand growth forecast and lowered its supply projection for this year. It forecast demand will increase by 1.3 million bpd in 2024, up 110,000 from its ... Read More
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The Oil Market on Wednesday Rallied Over 2% Following the Release of a Supportive EIA Inventory Report

March 14, 2024
Recap:  The oil market on Wednesday rallied over 2% following the release of a supportive EIA inventory report and a second day of Ukrainian drone attacks on Russian refining facilities. On Tuesday evening, the API reported an unexpected draw of 5.5 million barrels in crude stock ... Read More
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The Market Weighed U.S. Economic Data Against OPEC's Demand Growth Forecast and the Continuing Geopolitical Tensions in the Middle East

March 13, 2024
Recap:  The oil market traded in a yo-yo manner on Tuesday and ended 0.47% lower as the market weighed U.S. economic data against OPEC’s demand growth forecast and the continuing geopolitical tensions in the Middle East. The oil market retraced some more of Monday’s early losses ... Read More
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The Oil Market Traded Lower on Monday as Uncertainty Around the Timing of U.S. Interest Rate Cuts Weighed on the Market

March 12, 2024
Recap:  The oil market traded lower on Monday as uncertainty around the timing of U.S. interest rate cuts weighed on the market. The market is awaiting the release of a possible higher than expected consumer price index reading on Tuesday, which could muddy the path for monetary ... Read More
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