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EIA's report showed an unexpected build of 6.8 million barrels

August 16, 2018
Recap: The oil market opened 42 cents lower following Tuesday afternoon’s release of the API report, which showed an unexpected build in crude stocks of 3.7 million barrels.  The market posted a high of $66.90 before it breached its previous low and continued to trend lower, find ... Read More
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Prices fell as the dollar strengthened and as the financial crisis in Turkey heightened economic concerns

August 15, 2018
Recap: Oil prices tried to claw their way back from yesterday’s down day, but was held down by a strengthening dollar. Gains in equity markets spilled over into crude oil, pushing September WTI above $68.00 a barrel, and October Brent to just below $74.00 a barrel. Prices fell as ... Read More
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Oil prices fell sharply in early trading on Monday

August 14, 2018
Recap: Oil prices fell sharply in early trading on Monday after an industry source hinted that U.S. crude oil inventories held at Cushing, OK fell during the week ending 8/3/2018 and as concern grew over Turkey’s financial crisis and its impact on emerging markets. Prices fell as ... Read More
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There are concerns that trade wars between China and the U.S. will diminish demand

August 13, 2018
Recap: Oil prices finished higher on Friday. However, they posted their second weekly loss as forecasts for higher global demand and U.S. sanctions against Iran shortcut the effects of supply increases from Russia and concern that trade wars between China and the U.S. will dimini ... Read More
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Trade tensions between China and the U.S. caused oil prices to slip for the second straight session

August 10, 2018
Recap: After a sharp move lower on Wednesday, oil prices slipped for the second straight session Thursday on escalating trade tensions between China and the U.S. After a feeble attempt on the upside, oil prices fell back below unchanged, but were unable to surpass the lows of yes ... Read More
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Oil prices slipped to their lowest level in four weeks

August 9, 2018
Recap: Oil prices slipped to their lowest level in four weeks on Wednesday as total U.S. stockpiles of oil and fuel reached a seven-month high and trade wars between China and the U.S. heat up, giving rise to concern about demand. The build of 3.3 million barrels in total stocks ... Read More
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Crude oil prices posted moderate gains following a reduction in Saudi production

August 8, 2018
Recap: Crude oil prices posted moderate gains following a reduction in Saudi production and fear that U.S. sanctions against Iran could lead to supply shortfalls. September WTI climbed back toward $70 a barrel, but for the second straight session lacked enough strength to surpass ... Read More
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An unexpected drop in Saudi crude production lifted oil prices on Monday

August 7, 2018
Recap: An unexpected drop in Saudi crude production lifted oil prices on Monday, taking prices to their highest level in four days. October Brent pushed passed $74.07, the 10-day moving average, to a high of $74.47 a barrel, while September WTI blew passed its 10-day moving avera ... Read More
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Oil prices fell from early gains as trade war jitters continue to permeate the marketplace

August 6, 2018
Recap: Oil prices fell from early gains as trade war jitters continue to permeate the marketplace. Traders are left to grapple with the impact such wars can and will have on oil demand and therefore are forced to trade with uncertainty. Prices were also pushed and pulled by a dol ... Read More
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Genscape report suggested U.S. crude stocks held in Cushing, OK fell 1.1 million barrels since July 27

August 3, 2018
Recap: Oil prices rose for the first time in three sessions as traders reacted to a Genscape report suggesting U.S. crude stocks held in Cushing, OK fell 1.1 million barrels since July 27. Prior to the report, prices were trading at their lowest level in 10 sessions on concerns a ... Read More
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