Category: Petroleum Daily

Oil prices traded down today, coming off multi year highs on a surprise build in crude and gasoline inventories.

Oil prices continued to rise today, with WTI hitting highs not seen since 2014. Prices have already risen more than 50% for the year and are expected to draw continued support from higher prices in other areas of the energy complex.

Oil prices continued to rally today, with Brent reaching a 7 year high after OPEC+ confirmed they would stick to current production outputs schedules

Oil prices steadied as China announced their intention to buy more oil and energy supplies to offset their growing demand.

The market being pressured by the continued build up in inventory but also the strength of the use dollar which hit a one year high against a basket of other major currencies.

Oil prices declined today after the American Petroleum Institute (API) reported a surprise build in crude inventories

Oil prices continued their rise today, along with financial markets as sentiment is beginning to shift again.

Oil prices rallied today, despite a larger than expected build in gasoline inventories that initially had prices trading lower.

It seems to be a very nervous trade today,” said Phil Flynn, senior analyst at Price Futures group in Chicago. “It’s a little bit of ongoing concerns about the potential impact of demand going forward.”

Oil prices fell in a risk off day that took down risk assets across the board. Markets are tense with a two day Federal Reserve meeting beginning tomorrow and fear of spillover from the chaos in Asian markets.