Month: January 2014

After rallying most of the week, oil prices are under pressure this morning, likely due to profit-taking, but also a decided “risk-off” day. We don’t care for that moniker, but it does make the point in succinct fashion. Energy prices continued to rally this week on strong winter fuel demand.… Read more

Oil prices seemed to catch-up to the rest of the markets, yesterday, falling around 1% and staying down, despite recovery in other markets. A forecasted break in the cold US weather seemed to weigh on prices, but the reality of the return of the polar vortex and rare snowstorm for Houston has reversed yesterday’s losses.… Read more

Brent crude oil prices are lower this morning, while WTI prices are slightly higher. The spread between the two grades is continuing to narrow, due to the initiation of the Keystone pipeline from Cushing to the Gulf that go so much attention last week.… Read more

Oil prices are lower this morning, as there is a decided “risk-off” feel to the markets in general. Several emerging market currencies and their economies are the focus, driving up concerns over the economic outlook going forward, which is a negative energy demand.… Read more

WTI crude oil prices continue to post gains. Yesterday, it was apparently a surprise to the market that the Keystone pipeline from Cushing, OK to the Gulf of Mexico was put into operation. That was probably one of the most telegraphed surprises in a long time.… Read more

Crude oil prices are mostly higher, and the good old fundamental of weather is the main supporting feature. Long time readers of the Energy OverView likely recall, with some fondness, the intense coverage of the natural gas-to-heating oil spread play that used to dominate the discourse at this time of year.… Read more

Oil prices are higher this morning, due to the monthly IEA report which raised its demand forecast for 2014. Global oil demand is now seen at 92.5 million bpd. The competing headline is the breathless citation by the IEA of the strong upward surge in US oil production.… Read more

Oil prices are back on the rise this morning, after a quiet, mostly unchanged trading day yesterday. The decline in US crude oil inventories to a 22-month low, reported this week by the EIA, has underpinned prices. The strength of the US economy, especially as it relates to employment gains and manufacturing activity is also supportive.… Read more

WTI oil prices caught a significant bid, yesterday, due to a surprising weekly inventory report, which showed a 7.7 million barrel decline in overall crude oil stockpiles. There was a significant rise in gasoline inventories, which bodes well for drivers hoping for lower pump prices.… Read more

The outright price action of WTI and Brent crude oil is being affected by the Brent-WTI spread, once again. For a second day, Brent is weaker relative to WTI, as the Iran nuclear deal weighs on international crude prices, due to the expected in Iranian exports.… Read more