Crude Oil Crude prices jumped up by 2.7%-3% in a move that could possibly have caught the market by surprise. The expiring Brent October future gained $ 1.52 to settle at $ 52.38 /bbl. The November future, which becomes front month today, gained $ 1.11 cents to settle at $ 52.84/bbl. WTI gained $ 1.27 cents to settle at $ 47.23 / bbl. There was no significant news to account for this price rise. Therefore,…
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Crude Oil Crude prices tanked yesterday despite a significant crude draw reported by the DOE. Brent fell $ 1.14 to settle at $ 50.86 /bbl. The more active November future (which will be front month tomorrow) fell by 93 cents to settle at $ 50.73/bbl. WTI fell by 48 cents to settle at $ 45.96 / bbl. The downward fall in crude is steeply contrasted by a sharp rise in gasoline prices. They have risen…
Read MoreCrude Oil Crude prices were little changed yesterday with the change being more in the Brent – WTI spread rather than flat price per se. Brent rose by 11 cents to settle at $ 52.00 /bbl. WTI fell by 13 /bbl to settle at $ 46.44 / bbl. In real terms, the spread is marginally lower as the Brent October contract expires tomorrow. The more active November contract settled at $ 51.66 / barrel. The…
Read MoreCrude Oil Crude prices dropped drastically as the market eyed the shut down of US refineries with consternation. Brent fell by 52 cents to settle at $ 51.89 /bbl. WTI fell by $ 1.30 /bbl to settle at $ 46.57 / bbl. As of now, Hurricane Harvey is on a return visit to the area with heavy rains of over 15 inches expected in the Gulf of Mexico area. More than 13% (around 3.4 Mb/d)…
Read MoreCrude Oil Crude prices once again rose as the market prepared for Hurricane Harvey. Brent rose by 37 cents to settle at $ 52.41 /bbl. WTI rose by 44 cents to settle at $ 47.87 / bbl. Before we start commenting on the markets and the events of the weekend, we would like to hope that the people who have suffered the wrath of the hurricane are able to recover from the damage and…
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