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The Oil Market on Tuesday Continued on its Upward Trend as it Remained Supported by the Supply Cuts by Saudi Arabia and Russia

By spragueoperati | July 12, 2023 | Comments Off on The Oil Market on Tuesday Continued on its Upward Trend as it Remained Supported by the Supply Cuts by Saudi Arabia and Russia

Recap:   The oil market on Tuesday continued on its upward trend as it remained supported by the supply cuts by Saudi Arabia and Russia for August and hopes for higher […]

August NYMEX Natural Gas Futures Contract Closed at $2.582 on Friday, July 7th

By spragueoperati | July 10, 2023 | Comments Off on August NYMEX Natural Gas Futures Contract Closed at $2.582 on Friday, July 7th

Friday, July 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.612, just above Thursday’s closing price of $2.609. Trending higher leading up to the weekly storage publication, […]

Supply Concerns Outweighed Fears that Further Interest Rate Hikes Could Slow Economic Growth

By spragueoperati | July 10, 2023 | Comments Off on Supply Concerns Outweighed Fears that Further Interest Rate Hikes Could Slow Economic Growth

Recap:  The oil market continued to trend higher on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth. The market was well supported by […]

August NYMEX Natural Gas Futures Contract Closed at $2.609 on Thursday, July 6th

By spragueoperati | July 7, 2023 | Comments Off on August NYMEX Natural Gas Futures Contract Closed at $2.609 on Thursday, July 6th

Thursday, June 6th saw the front-month NYMEX Natural Gas Futures Contract open at $2.645, a penny below Wednesday’s closing price of $2.657. In a choppy day of trading, prices initially […]

The oil market on Thursday erased its overnight gain

By spragueoperati | July 7, 2023 | Comments Off on The oil market on Thursday erased its overnight gain

Recap:  The oil market on Thursday erased its overnight gain as the market saw a higher likelihood of a U.S. interest rate hike that could impact demand. The Fed’s minutes […]

August NYMEX Natural Gas Futures Contract Closed at $2.657 on Wednesday, July 5th

By spragueoperati | July 6, 2023 | Comments Off on August NYMEX Natural Gas Futures Contract Closed at $2.657 on Wednesday, July 5th

Wednesday, July 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.721, a penny above Monday’s closing price of $2.709. Ascending early on to record the intraday high […]

Trading on Wednesday Appeared to Narrow the Spread Between Brent and WTI

By spragueoperati | July 6, 2023 | Comments Off on Trading on Wednesday Appeared to Narrow the Spread Between Brent and WTI

Recap:   On Wednesday, the oil market posted an outside trading day as the market weighed the supply cuts announced earlier this week by Saudi Arabia and Russia against the concerns […]

August NYMEX Natural Gas Futures Contract Closed at $2.798 on Friday, June 30th

By spragueoperati | July 5, 2023 | Comments Off on August NYMEX Natural Gas Futures Contract Closed at $2.798 on Friday, June 30th

Friday, June 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.668, slightly below Thursday’s closing price of $2.701. Slipping to the intraday low of $2.659 ahead of […]

The Oil Market Erased its Gains and Sold Off Ahead of the Fourth of July Holiday

By spragueoperati | July 5, 2023 | Comments Off on The Oil Market Erased its Gains and Sold Off Ahead of the Fourth of July Holiday

Recap: On Monday, the oil market erased its early gains and sold off ahead of the Fourth of July holiday on Tuesday. Early in the morning, the market rallied to […]

August NYMEX Natural Gas Futures Contract Closed at $2.798 on Friday, June 30th

By spragueoperati | July 3, 2023 | Comments Off on August NYMEX Natural Gas Futures Contract Closed at $2.798 on Friday, June 30th

Friday, June 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.668, slightly below Thursday’s closing price of $2.701. Slipping to the intraday low of $2.659 ahead of […]