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Rising U.S. production continued to pressure oil prices

February 9, 2018
Recap: Rising U.S. production continued to pressure oil prices, pushing both blends to their lowest level in six weeks and their fifth straight session of losses. After a brief stint above unchanged, March WTI slipped as much as 1.1%, while Brent slipped 1.2%. An attempt to sever ... Read More
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EIA report indicated US crude oil stockpiles increased by 1.9 million barrels

February 8, 2018
Recap: Oil prices rescinded early gains after the EIA report indicated U.S. crude oil stockpiles increased by 1.9 million barrels, as opposed to the 1.1 million barrel decline reported by the American Petroleum Institute. April Brent was trading close to $68 a barrel, while March ... Read More
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Oil prices were dragged lower by weakness in global stocks

February 7, 2018
Recap: Oil prices fell as much as 1.6% on Tuesday, dragged lower by weakness in global stocks. Brent fell to a five week low, while WTI settled below $63.67, the bottom of an area of congestion. Gains were slightly pared, with WTI settling at $63.39 a barrel, down 76 cents, or 1. ... Read More
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Oil futures fell to their lowest level in over a week

February 6, 2018
Recap:  The rally in oil prices continued to deteriorate, with oil futures falling to their lowest level in over a week. Pressure was provided by increasing U.S. production, a rising dollar and a falling equities market. In overnight trading, prices failed to hold above the $65.1 ... Read More
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Oil prices fell for the second time in seven weeks

February 5, 2018
Recap:  Oil prices fell for the second time in seven weeks, pressured by strength in the, dollar following a stellar U.S. jobs report. Friday’s sell-off stymied the rally that began at the onset of the New Year, which was sparked by healthy global demand and OPEC’s adherence to o ... Read More
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The market appears to be rebalancing sooner than expected

February 2, 2018
Recap: Oil prices bounced on Thursday, having been propped up by several factors. Among these factors were signs that OPEC members are adhering to their agreed upon output cuts, Goldman Sachs raising its price forecast for Brent from $62 a barrel to $82.50 a barrel and strong pro ... Read More
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EIA reported that crude oil stockpiles rose 6.8 million barrels

February 1, 2018
Recap: The downside correction in oil prices continued on Wednesday, encouraged by the larger than expected increase in U.S. crude oil inventories. According to the EIA, crude oil stockpiles rose 6.8 million barrels, much greater than the 3.230 million barrel build reported by th ... Read More
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Oil prices are beginning to show signs of weakening

January 31, 2018
Recap: After rising to 3-year highs, oil prices are beginning to show signs of weakening, as investors exit record length and U.S. production continues to strengthen. Prices may very likely be in a corrective phase, as it appears that price movement has gotten ahead of the true u ... Read More
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The market remained weighed down by an increase in the number of rigs searching for oil in the US

January 30, 2018
Recap: The oil market traded higher on the opening and rallied to a high of $66.46 in overnight trading after the market breached its previous high.  However, the market erased its gains and sold off to a low of $64.98 by mid-day as the market remained weighed down by an increase ... Read More
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The dissipation of cold weather that has been plaguing the U.S. could lead to a free fall in prices

January 29, 2018
Recap: Oil prices retreated from three year highs on Friday, but finished the session with posted gains, as the dollar weakened and the U.S. rig rose. Oil prices settled at their highest weekly settlement since November of 2014. March Brent topped $70 a barrel, during the week, b ... Read More
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