-Oil prices have continued their push higher into the end of the week with prices up just over half a percent within Asia.
-Prices broke out and retouched the pennant as seen on the chart below before pushing higher to the mid $37 level heading into the London session shortly.
-To finish the day will see the weekly Baker Hughes Rig Count at 18:00.
- Yesterday within the United States has seen the release of the weekly EIA Crude Inventories data which has come in posting a cut for the week. Despite this cut we have seen increased levels of volatility within front month WTI contract return.
- This weeks data has seen inventories for crude released yesterday showing a cut of -2.077 million barrels for the week.
Oil prices within the Asian session today have pushed above the $38 handle for a brief moment as increasing optimism surrounding production cuts by OPEC+ members have spurred increased levels of buying during the day.
Markets pushed well higher throughout the day as hopes of these cuts along with production data released during last night’s US session assisted in...
- Crude futures have continued higher well into the Asian session after yesterday’s quiet session within London which saw prices range around the mid-$33 level.
- Prices did see a strong pullback heading into the Friday session last week, however, did see prices push back into the later part of the day as markets moved into the US session before seeing the close...
West Texas Intermediate July month contract has continued its push higher well into the Asian session with prices pushing above the $34 handle.
Much of the attention in prices overnight within the United States was the release of US EIA Crude data which posted a higher than expected cut for the week.
Furthering this did also hear comments from further nations...
Today has seen the weekly release of the Energy Information Administration’s Crude Inventory data which has come in at a surprise for many market participants. Crude data specifically has been the outlier in the dataset posted today with a larger than expected cut.
Data released today has shown a further week of cuts for Crude Inventories within the United States...
- Despite Natural Gas’s recent surge in pricing, prices have retraced to the later part of the session as we witnessed the weekly storage data release.
- This week’s data has shown a 109 billion cubic feet gain in storage within the nation which is seen as one of its largest builds in storage year to date.
- Crude Higher in Morning US Session Before Retracing Back to $23 Handle as Optimism Begins to Fade
- Natural Gas Falls After Release of Storage Data Posting Build of 109bcf for Week
- US Stocks Push Higher with Energy and Financials Leading Whilst Futures in Asia Slightly Mixed Heading into End of Week
- EIA Posts Lower Than Expected Build Whilst Gasoline Inventories Posts Cut
- Energy Sector Slides in US Session as Large Caps Drag Sector Lower -2.63%
- Futures Lower in Asia as Stocks Set to Follow Suit with US Indexes
- WTI Surges Pushing Above $25 Handle as Lockdowns Ease and Demand Begins to Pickup
- Markets in Asia Poised for Slightly Mixed Day Despite US Indexes Finishing Higher
- Energy Giant Shell Sells Appalachia Assets to National Fuel For $541 Million
- Oil Futures Surge on Production Cuts Whilst Demand Begins to Pick-up Slightly
- Natural Gas Storage Sees Build of 70bcf for Week Past
- US Indexes Finish Lower as Financials and Materials Sectors Drag Indexes Lower
- WTI Continues Lower in Asia Plus USO Begins to Sell Its June Contracts
- Japan Posts Lower than Expected CPI Data Whilst Unemployment Numbers Increase
- US Futures Lower Whilst Markets in Asia Post Slightly Mixed Session
• Oil Falls Below $13 as Prices Continue to Be Rattled by Ongoing Storage & Production Issues
• Low Oil Prices Claim Another Victim as Diamond Offshore Files for Chapter 11 Bankruptcy
• US Energy Sector Pushes Higher Despite Falling Crude Prices Up 2.10%