As of Monday July 1st, the strength in the market has continued, with diesel prices jumping over 3% in just one session. Oil prices gained 6% in June after sagging in May. The RSI ( Relative Strength Index) is sitting at 67.9. Anything above 70 is considered to be in Overbought territory, which would indicate […]
Energy Market Update – July 3, 2024 Read More »
Energy UpdateOil supply growth for 2024. Rysted Energy reported earlier this week that they expect a slowdown in 2024 of global oil supply growth. This is due to OPEC+ extension on production cuts. Rysted Energy also stated they see a 80,000 barrel per day growth versus their before prediction of 900,000 barrels per day. The group
Energy Market Update – June 20, 2024 Read More »
Energy UpdateThe market has had a bearish tone lately. The real surprise is Gas. Memorial Day weekend is the typical beginning of the summer driving season and higher gas demand for the United States. There have been a few slight up days in the last 2 weeks but mostly gas has been trending down. Distillate and
Energy Market Update – June 5, 2024 Read More »
Energy UpdateOil and products are lower today as the market looks to continue this week’s slide. Worries surrounding economic conditions and fuel demand due to higher interest rates along with expectations that the FED will not cut rates until fall at the earliest is weighing on prices. Further insights into the FED’s policy could be seen
Energy Market Update – May 22, 2024 Read More »
Energy UpdateMarkets are starting to find some direction since the release of the DOE (Department Of Energy Report) came out this morning (see chart below). With a more than expected build on crude, diesel and gas markets have started to soften. The last two days we have seen a little bit of a downward trend so
Energy Market Update – April 10, 2024 Read More »
Energy UpdateThe oil market has seen a lot of back and forth here the last week or so. Next, we will discuss some of the key pieces of news that affect the markets. Supply and demand is always a key piece in market direction. Currently the global oil market is relatively well supplied. Some of this
Energy Market Update – March 8, 2024 Read More »
Energy, Energy UpdateIt has been a wild week for refined fuel to say the least, the exception being Monday, which was slightly down. Every day since has seen minimal to large gains in crude and in products. Today that trend continues, this morning was fairly quiet, but at the time of this writing distillate is up $.05
Energy Market Update – February 9, 2024 Read More »
Energy UpdateThe energy markets continue to be highly volatile. In today’s Energy Market update we will discuss the news that is driving these markets. The Red Sea. There have been multiple attacks on shipping vessels in the Red Sea by the Houthi militia group. They have vowed to continue attacks until aid reaches Palestinians in Gaza.
Energy Market Update – January 26, 2024 Read More »
Energy, Energy UpdateThere is a lot to unpack in todays update. At the beginning of December, we saw steady drops for an extended period. Mid-December is when the swing started to occur, and the bulls stayed strong until Christmas. The last few days have finally shown a pullback. Will this last? Hard to say as there are
Energy Market Update – December 29, 2023 Read More »
Energy UpdateChinese refiners demand for Saudi Aramco crude oil for January is the lowest in five months. Higher than expected prices prompted buyers to look for cheaper supply. About 40 million barrels were nominated by Chinese refiners for January loading, this is down from about 46 million for December, trading sources said. This is the lowest
Energy Market Update – December 12, 2023 Read More »
Energy, Energy Update
