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Oil prices increased due to U.S. imposed sanctions against Venezuela and Saudi Arabia's pledge to restore balance in the oil market

January 30, 2019
Recap: After falling sharply on Monday, oil prices reversed course on Tuesday, spurred higher by U.S. imposed sanctions against Venezuela and Saudi Arabia’s pledge to restore balance in the oil market. The Saudi Energy Minister stated on Tuesday that his country would be cutting ... Read More
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Oil prices fell due to growing concern over signs of an economic slowdown in China

January 29, 2019
Recap: Oil prices fell sharply on Monday on growing concern over signs of an economic slowdown in China, amidst growing U.S. crude oil supplies. Adding to the pressure were lower equity markets.  March WTI fell as much as 4.4 percent, to a session low of $51.33, while Brent for M ... Read More
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EIA report showed an 8 million barrel increase in U.S. crude oil inventories

January 28, 2019
Recap: Oil prices continued to rise on Friday, supported by the possibility of U.S. sanctions against Venezuela. Political turmoil in Venezuela has heightened concern of supply shortages, which overshadowed Thursday’s EIA report showing an 8 million barrel increase in U.S. crude ... Read More
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Traders reacted to the 8 million barrel build in U.S. crude oil inventories

January 25, 2019
Recap: Oil prices were mixed on Thursday, with U.S. oil trading higher for most of the session, while Brent was held under pressure, as traders reacted to the 8 million barrel build in U.S. crude oil inventories and the possibility of U.S. sanctions on Venezuelan oil exports. WTI ... Read More
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Crude oil prices were pushed lower for the second straight session

January 24, 2019
Recap: Concern over a slowing global economy overshadowed expectations that U.S. crude oil supplies fell last week, pushing crude oil prices lower for the second straight session. In early trading, crude oil prices increased as official data indicated that U.S. shale oil producti ... Read More
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Oil prices fell by as much as 3.7 percent on Tuesday

January 23, 2019
Recap: Oil prices fell by as much as 3.7 percent on Tuesday, as concern over a slowing global economy stepped to the forefront. On Monday, oil prices were slightly higher, still running on the Friday news of the drop in the U.S. oil rig count, although signs of a slowing Chinese ... Read More
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IIR Energy reported that US oil refiners are expected to shut in 1.1 million bpd of capacity in the week ending January 25th

January 22, 2019
Recap: Due to the Martin Luther King, Jr. holiday there are no settlements for Monday, January 21st.  Fundamental News: Oil exports from southern Iraq are holding close to a record high so far in 2019.  Southern Iraqi exports in the first 21 days of January averaged 3.6 millio ... Read More
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The oil market was supported by reports of declining OPEC production

January 21, 2019
Recap: The oil market traded higher on Friday, supported by reports of declining OPEC production and hopes for a resolution to the US-China trade dispute.  The crude market opened 16 cents higher at $52.23 as the market continued to trend higher following Thursday afternoon’s ups ... Read More
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There continues to be concerns of a slowdown in economic growth cutting oil demand

January 18, 2019
Recap: The oil market opened relatively unchanged and traded lower on Thursday in line with US and global equities markets amid the continuing concerns of a slowdown in economic growth cutting oil demand.  The crude market sold off to a low of $50.98 by mid-day.  The market later ... Read More
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EIA report showed larger than expected builds in gasoline and heating oil stockpiles

January 17, 2019
Recap: After climbing higher in overnight trading, oil prices slipped after the EIA report showed larger than expected builds in both gasoline and heating oil stockpiles. Gasoline stocks increase 7.5 million barrels and are now set at 255.6 million barrels, the highest weekly lev ... Read More
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