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Expectations That U.S. Interest Rate Cuts Could Be Delayed Against Supportive Chinese Trade Data and Increased Tensions in the Middle East

By spragueoperati | March 8, 2024 | Comments Off on Expectations That U.S. Interest Rate Cuts Could Be Delayed Against Supportive Chinese Trade Data and Increased Tensions in the Middle East

Recap: The oil market posted an inside trading day on Thursday as it weighed expectations that U.S. interest rate cuts could be delayed against supportive Chinese trade data and increased […]

April NYMEX Natural Gas Futures Contract Closed at $1.929 on Wednesday, March 6th

By spragueoperati | March 7, 2024 | Comments Off on April NYMEX Natural Gas Futures Contract Closed at $1.929 on Wednesday, March 6th

Wednesday, March 6th saw the front-month NYMEX Natural Gas Futures Contract open at $1.963, just above Tuesday’s closing price of $1.957. Reaching the intraday high of $1.972 ahead of 9:30AM, […]

A Smaller Than Expected Build in Crude Stocks and Large Draws in Product Stocks

By spragueoperati | March 7, 2024 | Comments Off on A Smaller Than Expected Build in Crude Stocks and Large Draws in Product Stocks

Recap:  The crude market traded higher on Wednesday on a smaller than expected build in crude stocks and large draws in product stocks as well as remarks by U.S. Federal […]

April NYMEX Natural Gas Futures Contract Closed at $1.957 on Tuesday, March 5th

By spragueoperati | March 6, 2024 | Comments Off on April NYMEX Natural Gas Futures Contract Closed at $1.957 on Tuesday, March 5th

Tuesday, March 5th saw the front-month NYMEX Natural Gas Futures Contract open at $1.914, nearly even to Monday’s closing price of $1.916. Trading within a tight band near $1.910 throughout […]

China Announced an Economic Growth Target of 5% for 2024

By spragueoperati | March 6, 2024 | Comments Off on China Announced an Economic Growth Target of 5% for 2024

Recap:  The oil market continued to trend lower for the second consecutive session after China’s economic growth targets provided little optimism about an immediate economic rebound. China announced an economic […]

April NYMEX Natural Gas Futures Contract Closed at $1.916 on Monday, March 4th

By spragueoperati | March 5, 2024 | Comments Off on April NYMEX Natural Gas Futures Contract Closed at $1.916 on Monday, March 4th

Monday, March 4th saw the front-month NYMEX Natural Gas Futures Contract open at $1.971, fourteen cents above Friday’s closing price of $1.835. Prices were directed higher before markets opened yesterday, […]

An Inside Trading Day on Monday Following the Widely Expected Extension of Voluntary Output Cuts

By spragueoperati | March 5, 2024 | Comments Off on An Inside Trading Day on Monday Following the Widely Expected Extension of Voluntary Output Cuts

Recap:  The oil market posted an inside trading day on Monday following the widely expected extension of voluntary output cuts through the middle of the year by OPEC+. On Sunday, […]

April NYMEX Natural Gas Futures Contract Closed at $1.835 on Friday, March 1st

By spragueoperati | March 4, 2024 | Comments Off on April NYMEX Natural Gas Futures Contract Closed at $1.835 on Friday, March 1st

Friday, March 1st saw the front-month NYMEX Natural Gas Futures Contract open at $1.842, two cents below Thursday’s closing price of $1.860. Falling to the intraday low of $1.810 by […]

The Market Awaited an OPEC+ Decision on Supply Agreements for the Second Quarter

By spragueoperati | March 4, 2024 | Comments Off on The Market Awaited an OPEC+ Decision on Supply Agreements for the Second Quarter

Recap:  The oil market rallied higher on Friday and ended the week 4.55% higher as the market awaited an OPEC+ decision on supply agreements for the second quarter. Earlier in […]

April NYMEX Natural Gas Futures Contract Closed at $1.808 on Thursday, February 29th

By spragueoperati | March 1, 2024 | Comments Off on April NYMEX Natural Gas Futures Contract Closed at $1.808 on Thursday, February 29th

Thursday, February 29th saw the front-month NYMEX Natural Gas Futures Contract open at $1.856, three cents below Wednesday’s closing price of $1.885. Recording the intraday low of $1.839 within minutes […]