Mixed Market Week on Same Old Concerns
Energy Market Updates
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tariff
Markets Tumble on Trade War Tensions
The NYMEX tumbled back down today, erasing Friday's rally. At the close, ULSD shed .0546 to $1.8356, and RBOB dropped .0635 to $1.7180, with Crude closing at $54.69, which puts us back in the territory we saw on Thursday, essentially. (We were $1.8529, $1.7499 and $53.95 at the close Thursday after record slides).
Markets Rebound After Thursday's Slide
Markets rebounded somewhat today from yesterdays massive slide.
NYMEX Plunges on Fed Rates, Supply, Tariff Tweets
Oil & Refined products all plunged today on a series of events. Both Brent & WTI were down over 3% this morning, and by 2pm refined products were down over 11 cents.
G20 Summit Answers Looming Market Questions
Prices surged this morning after a slow down on Friday, on news from the G20 Summit that Russia and Saudi Arabia have agreed to extend the OPEC+ production cuts by another 6-9 months. The agreement still needs to be ratified at the upcoming OPEC meeting, but that is essentially a formality at this point, given Russia & the Saudi's are in agreement.