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Crude gained $0.70

Posted on: May 08, 2017

WTI prompt futures contracts got pummeled last week, gaining a small amount back on Friday closing off $0.70 higher to settle at $46.22, although not enough to counteract last week’s losses. So here’s a recap on the events that took place: Baker Hughes reported an increase in US rig count, 7 rigs from the Permian Basin, EIA had a bearish draw less than anticipated (930k actual versus 3 million barrel forecast), OPEC producers expressed sentiments that they did not wish to increase the level of production cuts should an extension be agreed to past June, all while the Permian Basin had a tremendous quarter showing no signs of slowing down.

What’s in store for this week? We hope you had an excellent weekend and came back refreshed and ready to face the market.


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

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Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

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November 14, 2017

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


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