Category: Petroleum Daily

Oil prices rose today, reversing overnight losses as better-than-expected U.S. manufacturing activity data and a bullish equity market helped prices

Oil prices traded down today as cleanup from the storm continues. A weak dollar has supported oil prices even though crude and fuel demand has struggled to recover amid the pandemic.

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.

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.