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Crude moves $0.41

Posted on: October 03, 2016

Oil finished off last week with an 8.1% gain. The gain was followed by an increase in weekly rig counts according to Baker Hughes. Crude rigs increased by 7 for the week, natural gas by 4, leaving a grand total of 522 combined to date. Skepticism and uncertainty still shrouds the OPEC announcement made last week, however the price has still responded well to the news. In any case, the market will be keeping close watch as the agreement to cut production is finalized in November. If the agreement does not implement smoothly we will likely see considerable pressure softening the market fundamentals.

We see crude continue to rise this morning as we return to work.

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Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.

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