The 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.

Chinese 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

The energy markets seem to be taking a little breather today. At the time of this writing markets are down across the board. Let’s look at some of the news affecting the markets. The U.S has increased sanctions against Russia over the war in Ukraine. Seven Russian banks along with a dozen companies were added

At the beginning of October, we were seeing big drops in distillate prices, gas pricing was falling as well. That changed at the beginning of this week with the conflict in the Middle East. Monday and Tuesday this week had the markets spiking upwards on crude and distillate, with gas staying relatively quiet. Today the

Energy Market Update – September 27, 2023 Crude and products are moving higher today. We are continuing to see a battle between tight supply and impacts of high interest rates and how they affect demand. Saudi Arabia and Russia’s plan to keep collective production cuts of 1.3 million barrels per day in place through the

It appears the bulls are in control of the market. The uptrend began July 19th and has been up every day since on crude and distillate, gas had one minor down day, other than that it is all on the upside. This morning the market was fairly quiet, and thoughts were that maybe traders would