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Secretary of State, Rex Tillerson, being replaced by CIA Director, Mike Pompeo, may potentially have very big implications for both the Iran deal and US policy towards Venezuela

March 14, 2018
Recap: The oil market rallied higher on Tuesday morning on news that President Donald Trump fired Secretary of State Rex Tillerson. The Secretary of State’s firing increases risks to a multinational agreement to limit Iran’s nuclear capabilities, raising questions about potential ... Read More

Early Monday morning crude and products were all in negative territory but bounced back and erased almost half of the morning's sell off

March 13, 2018
Recap: The bullish mood from Friday failed to firmly take root in the new trading week. While the crude oil market opened Sunday slightly higher the products did not and by the early hours of Monday morning the crude and the products were all in negative territory and continued t ... Read More

For the first time in seven weeks the Baker Hughes drilling report showed a decline in the number of oil drilling rigs operating in the US

March 12, 2018
Recap: After a two day decline in the oil markets, the bulls came charging back into the market today, following a strong stock market. The equities market found positive news in a strong U.S. jobs report, along with the potential easing in geopolitical tensions surrounding the N ... Read More

A strong rebound in the value of the dollar appeared to keep the oil market from gaining any real traction toward the upside

March 9, 2018
Recap: The bulls in the oil market remained on the defensive for the second day in a row.  While the stock market rebounded today, the strong rebound in the value of the dollar appeared to keep the oil market from gaining any real traction toward the upside. Then with the release ... Read More

The market traded lower as US oil production increased to a record high of 10.369 million bpd on the week

March 8, 2018
Recap: The oil market on Wednesday traded mostly sideways in overnight trading before it breached its previous losses and sold off to $61.65 ahead of the release of the EIA’s weekly inventory report.  The market quickly pared its earlier losses following the release of the invent ... Read More

The inventory report is expected to reflect an increase of 3 million barrels of oil

March 7, 2018
Recap: Oil prices were mixed on Tuesday, trading within a tight range ahead of the API inventory report. Brent was the stronger of the two blends, holding onto gains as Europe continues to cope with unseasonably cold weather. WTI traded on both sides of unchanged, ultimately hold ... Read More

Monday was the largest one day gain in almost three weeks for oil prices

March 6, 2018
Recap: Oil prices began the session trading close to unchanged, but quickly reversed course, as the stock market headed higher, adding to the upside momentum were signs that OPEC and non-OPEC members are adhering to their agreed upon output cuts and  weak Venezuelan production. D ... Read More

Baker Hughes reported the number of active rigs in the US increased by one unit, to 800 on the week

March 5, 2018
Recap: Despite staging a session comeback, oil prices settled at their lowest level in three weeks. Prices were hammered on Thursday after President Trump announced the imposition of tariffs on steel and aluminum, which instilled concerns about a global trade war. Losses were par ... Read More

Oil prices fell to their lowest level in two weeks

March 2, 2018
Recap: Oil prices took a hit for the third straight session after President Trump announced the imposition of tariffs on steel and aluminum imports to the U.S; which dragged down global equities. A rising U.S. dollar also added pressure. Prices fell to their lowest level in two w ... Read More

EIA reported a larger than expected build in U.S. crude oil inventories

March 1, 2018
Recap: Oil prices received an early boost after it was reported OPEC output fell to a 10-month low as the UAE over-delivered on its agreement to cut output. April WTI gained as much as 0.68%, while Brent for April delivery tacked on 0.37%. Gains were short lived after the EIA rep ... Read More
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