Navigate Up
Sign In

Crude gains a marginal $0.17

Posted on: July 11, 2017

What did I tell you? As from earlier commentary I warned of some OPEC meeting headlines coming our way...well here they are. Nigeria and Libya, two OPEC production cut exempt members who have collectively added 440k barrels per day of additional crude in May and June, have been sent an "invitation" to join an OPEC meeting in Russia on the 24th.

Has the invitation even been accepted for that matter? You'll have to excuse my pessimism as it isn't the first time market optimism has been manipulated by media headlines and the very thought that Nigeria and Libya "may" attend this meeting increases prices, benefiting the group. It has been disclosed that the upcoming meeting will not be discussing any deepening in current production levels so at the very best, Nigeria and Libya would receive a cap on their currently high production, if that.


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

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial