Total North American rail volumes were down 5.1% year over year in week 34 (U.S. -3.3%, Canada -10.3%, Mexico -8.0%), resulting in quarter to date volumes that are down 8.4% and year to date volumes that are down 11.2% (U.S. -11.9%, Canada -8.6%, Mexico -10.7%)
Oil prices were mixed today as the market largely shrugged off the
impact of Hurricane Laura, but prices still headed for week over week gains for the fourth straight week.
Oil prices slipped today as US energy firms begin to tally the damage from Hurricane Laura which is now heading north
Due to technical difficulties there will be no commentary today
Crude oil prices rose today hitting five month highs as producers continue to shut Gulf Coast production.
Crude prices rose today as double trouble storms head for the Gulf. Oil producers had shut 58% of the Gulf’s offshore oil production and 45% of natural gas production on Sunday in anticipation.
“I can give you a six-word formula for success: Think things through–then follow through.” —Edward Rickenbacker COVID-19 and Markets Update The United States currently has 5,874,295 confirmed COVID-19 cases and 180,605 confirmed deaths. Looks like we are on a pretty decent decline in new cases being reported and hopefully we can put this nightmare behind […]
Oil prices fell today on continued demand concerns as the overall economic recovery in Europe is beginning to dwindle.
“While oil-market fundamentals may have started to normalize, much of the progress comes from the supply side, while demand continues to disappoint,”
Prices rose very slightly on positive inventory numbers, overshadowing demand worries. Crude stocks had a draw of 1.63MM/bbls vs a forecasted draw -2.74 MM/bbls as exports decreased 1MM/bpd.