Spragueenergy

Recap: The oil market traded lower on Thursday as traders weighed the lower demand outlooks by the IEA and OPEC and the large build in crude inventories reported on Wednesday against the lack of progress in talks over the Strait of Hormuz. The market traded sideways in overnight trading, posting a high of $83.30, before it traded lower following Wednesday’s E...

Recap: The oil market posted an inside trading day on Wednesday as the market weighed the lack of progress on a permanent end to the war in Iran and the news of attacks on shipping in the Gulf against the unexpected large build in crude oil inventories and OPEC and the IEA cutting their demand growth forecasts. The market traded higher in overnight trading as...

Wednesday, August 12th saw the front-month NYMEX Natural Gas contract open at $2.815, $0.048 above Tuesday’s closing price of $2.767. Receiving support overnight from a hotter shift to an already bullish forecast, prices traded within a narrow band near $2.810 throughout the morning. Marking the intraday high of $2.825 at 10:40AM and intraday low of $2.790 at 12:15PM, Septemb...

Tuesday, August 11th saw the front-month NYMEX Natural Gas contract open at $2.800, $0.006 above Monday’s closing price of $2.794. Recording the intraday high of $2.804 within minutes of the opening bell, the contract spent the back half of the morning trending lower to stabilize near $2.760. Marking the intraday low of $2.747 shortly after 11:00AM, traders seemed comfortable...

Recap: The oil market traded higher as the market weighed the latest developments regarding talks to reopen the Strait of Hormuz. While Qatar’s Foreign Ministry said talks between Oman and Iran over shipping in the Strait of Hormuz are at an advanced stage, there has been no real meaningful progress, with Iran stating that the Strait of Hormuz will remain clo...