President Donald Trump sent a bold message yesterday but it's not really clear who it was directed to. Oh sure, you might think it was China.
Oil futures fall in the aftermarket as traders reduced their month-end portfolios.
Oil prices got a boost on a report that Russia and Iran were planning war games in the Strait of Hormuz. A very strange game.
While commodity funds reduced long positions last week, it appears that some are already starting to regret it. Oil demand expectations are back on the rise as the Fed looks to cut rates while we will start to see global inventories fall.
Hedge funds increased bearish bets on Natural Gas futures by 37,238 contracts as of July 23, according to CFTC Commitment of Traders report on Friday.
Oil is stuck on the backburner as markets wait for the outcome of the U.S.-China trade talks, and the Fed decision.
Oil is all dressed up but apparently has nowhere to go. Oil is getting hit with a bad case of the summer doldrums.
The oil market did a jump, and then a dump as oil traders shrugged off bullish EIA data because it was skewed by tropical storm Barry.
We saw a massive 10.96-million-barrel crude oil drawdown reported by the American Petroleum Institute (API). While the API’s larger than expected 4.436-million-barrel increase in gasoline supply and 1.42 million barrels increase in distillate supply tempered bullish enthusiasm.
Tensions still running high after Iran seized a UK oil tanker in response to what Iran says was an illegal seizure of their own ship. The UK has told ships to avoid the Strait of Hormuz and other tankers are taking that advice, raising insurance costs and threating to blow the top off oil prices.