Blog

Posted: Monday, March 27, 2017

TGIF team, its Friday and our markets are up a tad on a slightly lower US dollar. We are also seeing, the Saudi’s are exporting less crude oil to the US , but I don’t put much stock in that because Canada will just continue to cover whatever the Saudi’s don’t send! In a Reuters story from Henning Gloystein...

Posted: Friday, March 24, 2017

TGIF team, its Friday and our markets are up a tad on a slightly lower US dollar. We are also seeing, the Saudi’s are exporting less crude oil to the US , but I don’t put much stock in that because Canada will just continue to cover whatever the Saudi’s don’t send! In a Reuters story from Henning Gloystein...

Posted: Wednesday, March 22, 2017

Good Wednesday morning team! Markets are still reeling from yesterday’s down day in the equities and we’re still down in the energy complex on another disappointing API estimates. The API expects inventories of crude increased by 4.5 million barrels with gasoline increasing inventories falling by 4.9 million barrels and the distillates showed a drop of 833,000 barrels...

Posted: Tuesday, March 21, 2017

Happy Tuesday Team! For the first full day of Spring, markets are hopeful. We’re trending slightly higher as we head into the middle of the week when we get the API and EIA reports and see how much deeper the crude oil pool is right now. But, are supply cuts around the globe enough? Even if the Saudi’s...

Posted: Monday, March 20, 2017

Our markets seem to have lost their spring however with WTI trading down nearly a buck early this am. Our markets are stepping into much softer territory after Friday’s Baker Hughes Rig Count showed a big increase in land based rigs of 14 with Nat Gas rigs increasing 6 and adding back 1 miscellaneous rig...

Posted: Friday, March 17, 2017

Markets are ready for the weekend as they take advantage in a slightly lower US dollar, early today. The jitters we have been experiencing this week, stem from worries that the OPEC and a couple others promise of cuts are not having any effect; especially in light of the Saudi’s production increase in February...

Posted: Thursday, March 16, 2017

Good Thursday Morning Team! It appears our markets are holding prices where they are, while we all figure out what’s going to happen next. WTI prices are “4-bits” higher at 06:30 CDT this morning, as we digest yesterday’s EIA report showing inventories of crude oil in the US slipped, but just a tad and even bigger draw’s...

Posted: Wednesday, March 15, 2017

Good Wednesday Morning Team. It’s Hump-Day and the markets are taking a breather from the eight straight days of losses in the WTI contract; here’s why. In a story out of the International Energy Agency (IEA) crude oil inventories, while high should rebalance by the end of the first half of this year as production cuts take hold...

Posted: Monday, March 13, 2017

Good Friday Morning Team, its foggy here in Dallas but there is Spring in the air! Our markets are feeling their allergies with prices drip, drip, dripping lower. As we have been warning for weeks now, watching the inventories creep up at a time when the market kept talking-up prices was counter intuitive. Inventories on Wednesday showed 528.4 million barrels and that at an understood (soft) capacity of 521 million barrels. Cushing OK, had a build of 1.1 million barrels and that is a concern....

Posted: Friday, March 10, 2017

Good Friday Morning Team, its foggy here in Dallas but there is Spring in the air! Our markets are feeling their allergies with prices drip, drip, dripping lower. As we have been warning for weeks now, watching the inventories creep up at a time when the market kept talking-up prices was counter intuitive. Inventories on Wednesday showed 528.4 million barrels and that at an understood (soft) capacity of 521 million barrels. Cushing OK, had a build of 1.1 million barrels and that is a concern....

Posted: Thursday, March 9, 2017

Happy Thursday Team, it’s another Springtime day and I’m sneezing like crazy! Well, we finally broke out of the 92 day price channel and not in the direction most analysts thought, as markets reacted after about an hour of shock at the inventory report from the EIA showing another very large build in the WTI crude oil of 8.21 million barrels. Gasoline had a draw of 6.6 million barrels and the distillates showed a draw of 2.7 million barrels...

Posted: Wednesday, March 8, 2017

Markets are trending lower this morning on the API’s big build estimates in WTI crude oil of 11.6 million barrels. This may foreshadow what we’ll see today in the EIA report. Yesterday’s API not only showed a 11.6-million-barrel build, with a surprise draw in gasoline of 5 million barrels and a draw of 2.9 million barrels in the distillates...

Posted: Tuesday, March 7, 2017

It’s day two at the CERAWeek meetings in Houston. I promised yesterday that I would listen to a discussion on range trading hosted by the OPEC Gen. Sec., I did listen and can tell you the talk...

Posted: Monday, March 6, 2017

Good Monday Morning Team, as March gets moving, so does the annual CERAWeek Meeting in Houston today. All eyes will be on HE Khalid Al-Falih, Minister of Energy Saudi Arabia...

Posted: Thursday, March 2, 2017

After yesterday’s EIA report showing a slight build of 1.5 million barrels of crude oil, a draw of 500,000 barrels and a draw of 900,000 our energy markets continued their sideways direction within the 90 day long range trade. What keeps catching my mind is the continued build in US crude oil inventories with yesterday’s...

Posted: Wednesday, March 1, 2017

Happy March and welcome to the “Drive Season”. Our markets are still stuck in the mud; not slipping too much, but not going anywhere either. Yesterday’s API estimates are the primary driver of these markets as we wait for today’s EIA report due out at 9:30 am CST. The API estimates crude built 2.502 million barrels with a build in gasoline of 1.84 million barrels and a draw of 3.73 million barrels in the distillates...

Posted: Tuesday, February 28, 2017

With all the “brew-ha-ha” over OPEC and its willingness to follow through with production cuts, and the fact that we have now one report from them that they are very close, nothing has changed. We get back near the top of the channel and we turn back around and find reasons to talk the markets down again...

Posted: Monday, February 27, 2017

>Our markets are trending higher this morning after a week where we had a couple surprises. Inventories surprised on Wednesday and Thursday as the Baker Hughes Rig Count almost did on Friday posting an increase of five (5) crude oil drilling rigs bringing that total to 602 and showing a decrease in natural gas rigs...

Posted: Friday, February 24, 2017

Good morning team! Our markets are heading back up this morning after last night’s estimates on inventories was posted showing a surprising draw in crude oil inventories of 884,000 barrels. Gasoline also had a draw of 893,000 barrels and a really big draw in the distillates as well of 4.23 million barrels...

Posted: Thursday, February 23, 2017

Good morning team! Our markets are heading back up this morning after last night’s estimates on inventories was posted showing a surprising draw in crude oil inventories of 884,000 barrels. Gasoline also had a draw of 893,000 barrels and a really big draw in the distillates as well of 4.23 million barrels...

Posted: Wednesday, February 22, 2017

Good Morning! It looks like there just isn’t enough momentum to move us past the top of the trading channel we’ve been in for 84 days! The story’s in the financial press have been pushing the line that OPEC really wanted to cut more production, but somebody forgot to tell OPEC that they need to say it. Until that happens, crude oil prices...

Posted: Tuesday, February 21, 2017

Good morning! I hope you took advantage of the Presidents Day Holiday. Now that we’re back in the saddle, our markets were busy as well reacting to international influences as WTI trades up nearly a buck early today. We’re watching comments coming out of the International Petroleum conference as industry...

Posted: Monday, February 20, 2017

Markets are closed today, but we do have after-market trading in some markets. Our energy markets have been cruising around in a pretty tight trading range for a while now and I don’t expect much to change! “It’s funny, but for the last couple of years we’ve been watching crude change about as much as the...

Posted: Friday, February 17, 2017

Our markets are trading just plain flat this morning after a couple week’s with not enough wind to sail; we are heading nowhere fast! We’re not completely dead in the water but we’re close. The only metric that appears to be tied to WTI right now is the US $$ and it has been flat as well. Call it a..

Posted: Thursday, February 16, 2017

Round and round she goes, where she stops, nobody knows! Yep, that sums it up as we’re trading lower again in WTI. While there is pressure on our markets from a higher US dollar, our markets are reacting to last night’s API report more than anything. The API estimates that crude inventories rose by 9.4 million barrels with gasoline rising 720,000 barrels and the distillates up 1.5 million barrels. As you all know by now, we’ll get the...

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