Energy Market Updates
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wti (3)
Standing Headline: Fed Talks,Chinese Economic Data Pummel Stocks,Crude
WTI dropped 2.8% today to close out at $44.43 a barrel, while Brent closed out down 2.5% . On the refined products side of the NYMEX, ULSD and Gas both took a pummeling as well, with both down over 4 on the day. To be exact, ULSD closed out down (-.0453) to 1.4772 and RBOB closed down (-.0471) to 1.3488.
Fed Uncertainty and Major Layoffs Spook Wall Street
Stocks are getting pummeled today in anticipation of Fed Chair Janet Yellen's scheduled 5 o'clock speech on the economy and Fed policy re: rate hikes. (Deja vu anyone?).
Gains After Another Black Monday - Dead Cat Bounce or Rebound?
Today we saw some reversals in the abject panic selloffs we saw Friday and especially Monday. (Click here to recap Friday)
Stocks Officially in Correction, Oil Trades Under $40
WTI crashed below the $40 level this afternoon in trading, and clung right to the $40 line at the close, settling at $40.45. (ULSD was off -.0556 to $1.4624, and RBOB dropped -.0143 to $1.5449)
Inventories & Iran Continue to Pummel Crude Prices
Oil prices are continuing their tumble - and it doesn't look likely they'll rebound in any significant way any time soon.
#TBT - Crude Prices This Year vs. Last
#TBT - It's hard to believe it but just about exactly a year ago, we were still looking at Crude oil that was dancing around the old $100 "new normal" benchmark.
Oil Slides on Economic Data, Dragging Stocks Along for the Ride
This morning Brent Crude dropped under $50 for the first time in 6 months, and WTI fell below $45/bbl to within $2 of a 6 year low. Shortly after noon, the NYMEX showed ULSD down .0452 cents, and gas down almost 9 (-.0882).
EIA Projections for 2015 & 2016 Released Today
The EIA released its Short Term Energy Outlook today with its projections for both Crude prices and US Crude Oil production through 2016. It also projects where we will be on retail gasoline, natural gas storage, and electricity for 2015 & 2016.
NYMEX, WTI Jump on Shale Slow Down & Inventory Concerns
The NYMEX shot up again today, after trending slightly downward the past several sessions. Last week saw Brent over $65/bbl and today WTI settled out +1.50 to 60.75, over the $60/bbl benchmark we've all been watching for.