Navigate Up
Sign In

Crude gains a moderate $0.54

Posted on: October 28, 2016

The EIA came out with their Wednesday figures and reported a draw of 600,000 barrels in US crude. This optimistic draw is being met with contradictory feelings driven by the ups and downs of OPEC members seeking exemption, as well as resistance from Russia to negotiate a cut/freeze. According to Bloomberg, Saudi Arabia successfully raised $18 billion in the bond market and will be better prepared to withstand lower oil prices and lost revenues. Brazil will be joining the exporters meeting in Vienna, along with OPEC and other large non-OPEC members such as Russia, to discuss cutting production. There is a lot riding on this agreement in November, and Brazil’s recent involvement in the meeting is definitely a positive signal for change, but I recommend holding your breath because we are still in for a bumpy ride.

Prompt WTI futures gained $0.54 and closed at $49.72. Brent posted similar gains on prompt future of $0.49 on a $50.47 close.


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.


Talk to a specialist

GlassdooreSSENTIAL Accessibility™Diversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Supplier Resources

2018 ATB Financial. All rights reserved. ©ATB Financial is a trade name/registered trademark.

ATB Financial