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After Three Straight Sessions of Losses, Oil Futures Header Higher on Thursday

October 14, 2022
Recap:  After three straight sessions of losses, oil futures headed higher on Thursday, finding support from the nearly five million-barrel weekly drop in U.S. distillate inventories. Traders also digested the latest stronger than expected U.S. inflation reading, the IEA’s warnin ... Read More

A Stronger U.S. Dollar Outweighed Fears of Tight Supplies

October 13, 2022
Recap:  Oil futures fell on Wednesday as a dismal economic outlook and a stronger U.S. dollar outweighed fears of tight supplies. OPEC, which together with allies including Russia last week sent prices rising by agreeing to cut supply by 2 million barrels per day (bpd), slashed i ... Read More

Oil Futures Slipped on Monday as Recession Fears Overshadowed Tight Supplies

October 11, 2022
Recap:  Oil futures slipped on Monday as recession fears overshadowed tight supplies. Investors weighed the possibility of a global recession and its impact on demand for fuel, against potentially tighter supplies after OPEC+ agreed to cut 2 million barrels per day of production. ... Read More

Oil Futures Climbed for a Fifth Session in a Row on Friday

October 10, 2022
Recap:  Oil futures climbed for a fifth session in a row on Friday, with prices for the front-month U.S. contract ending 16.5% higher for the week. Oil prices had been weighed down by fears of a weakening global economy, however, OPEC+'s decision to cut output by 2 million barrel ... Read More

Oil Prices Ticked Higher on Wednesday

October 6, 2022
Recap:  Oil prices ticked higher on Wednesday after it was reported that the OPEC+ monitoring committee had agreed to cutting output by 2 million barrels a day. The cut was on the larger end of what analysts were expecting. The move represents a major reversal in production polic ... Read More

OPEC+ May Be Considering an Even Larger Cut Than Previously Expected

October 5, 2022
Recap:  Oil futures jumped on Tuesday after it was reported that OPEC+ may be considering an even larger cut than previously expected.  An anonymous source reported that the group is considering cuts of up to 2 million barrels per day. As OPEC+ prepares to meet this Wednesday to ... Read More

OPEC and Other Major Producers Considered Reducing Output

October 4, 2022
Recap: Oil futures jumped over $4 a barrel on Monday as OPEC and other major producers considered reducing output by more than 1 million barrels per day to bolster prices with what would be its biggest cut since the start of the COVID-19 pandemic. November WTI traded as high as $ ... Read More

Hurricane Ian and Signs of a Slowing Economy, Pushed WTI Below $80 a Barrel

October 3, 2022
Recap: Weakening demand, exacerbated by Hurricane Ian and signs of a slowing economy, pushed WTI below $80 a barrel on Friday. August personal consumption expenditures price index, including gas and energy increased 0.3% in August, compared with a decline of 0.1% in July. It rose ... Read More

Concerns Over Production Disruptions From Hurricane Ian Subsided

September 30, 2022
Recap: Oil futures finished lower on Thursday as a sharp decline in U.S. stock markets sparked broader risk aversion across asset classes including energy commodities and as concerns over production disruptions from Hurricane Ian subsided. Despite the lower move WTI held above $8 ... Read More

A Mostly Bullish EIA Report Showed Across-the-Board US Inventory Declines

September 29, 2022
Recap:  Oil prices extended earlier gains, after a mostly bullish EIA report that showed across-the-board US inventory declines in the three main categories--crude, gasoline and distillates.The weekly report also showed a 100k bpd drop in US crude production, to 12M bpd. Perhaps ... Read More
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