Energy Market Updates

Gasoline hit 5 month highs today, with distillates and Crude following upward as well, as twin storms Marco and Laura continue their trek towards the Gulf. 

Oil opened down 6% this morning, and has continued to slide. We are currently off ~7.9% at time of writing (10:30am)

Oil markets were tumbling well before the open today, and unfortunately we didn't see that turn around at all through the course of the official trading day.

Wild day on the markets today! Oil plummeted on news that the production cuts proposed at the OPEC+ meeting in Vienna were rejected by the "plus" contingent of the OPEC+ coalition - namely, Russia.

WTI Crude traded & settled below $50/bbl earlier this week, as prices continued to slide across commodities. Today, however, we saw the trend reversing, with the market up this morning by almost 3%. (Early on, we were up over the 3% mark but gains dropped off slightly after the EIA inventory reports were released this morning.) 

After what seems like 76 days, January is finally over.