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Crude gains $0.06

Posted on: April 27, 2017

Wednesday’s EIA numbers positively surprised the market with US inventories falling by 3.64 million barrels to 528.7 million. Despite record levels of imports, and the fact this value was nearly double the forecast earlier in the week, it simply wasn’t enough to hold a significant gain with an intraday high of $50.20 before settling only 6 cents higher at $49.62. Refinery utilization is at a massive 94.1% given the time of year and gasoline/diesel demand is seen slipping.

In OPEC news, Saudi Arabia is losing market share to Iran and Iraq and members continue to contemplate extension cuts pending global supply levels at the end of May.


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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