Employment data supportive Large petroleum supply builds are bearish Distillate fuel oil stocks improving; still below average Cold weather outlook overrides natural gas storage situation The Matrix Oil markets felt pressure from several factors last week. Economic...
Houthis threaten Red Sea shipping Panama Canal transit affected by El Nino drought Weather models open the potential for colder weather in the Eastern United States The Matrix Ocean shipping carries the vast majority of global crude oil movement. This is generally not...
International producer alignments shifting U.S. steps up response to Red Sea Houthi attacks Domestic supply situation eases Natural gas price outlook remains bearish The Matrix International news did not move petroleum prices significantly last week. Angola has now...
Oil prices move higher Demand estimates for 2024 raised Distillate fuel oil situation eases Natural gas upside faces uphill battle The Matrix An improved economic outlook and projections of expanded world oil consumption gave petroleum futures markets their first...
Production of crude oil over 13 million barrels daily Petroleum exports take eleven million barrels from U.S. stocks Distillate fuel oil stocks under pressure Natural gas supply exceeds long-term averages The Matrix Oil prices fell for the tenth week since September...
OPEC cuts are voluntary Angola rejects mandate to cut output U.S. distillate fuel oil inventory situation may be improving Natural gas outlook growing more bearish The Matrix Strains among OPEC+ members appear to be growing. Last week, the group announced a production...
OPEC meeting delayed until November 30th African producers unhappy with proposed lower production levels ULSD futures moving lower with trendline January 2024 natural gas futures under $3.00 The Matrix Brent crude oil prices topped out on September 28th at $97.69....
Distillate fuel oil supplies very tight Crude oil prices pullback Natural gas situation becoming more bearish Happy Thanksgiving from the Powerhouse Team The Matrix Crude oil prices reversed sharply higher on Friday, following a $72.37 Thursday low. The recovery was...
OPEC+ producers holding to production cuts Global oil demand under pressure U.S. consumer price increases moderating Natural gas supply increasing. The Matrix Oil prices have been softening over the past few weeks. A modestly bullish opening on Monday, November 13 was...
EIA delays the release of inventory and storage data until next week U.S. propane inventories above the 5-year range Drought slowing ships transporting energy through the Panama Canal Global natural gas inventories full ahead of winter The Matrix A warm winter last...