Market Insights

September 23, 2016 • Posted in Market Insights

Week Of September 19, 2016

 

  • Oil dropped 5% last week on swelling Iranian output while gasoline prices increased on pipeline and refinery outages
  • Falling U.S. stock prices and a strengthening U.S. dollar kept downward pressure on oil and other commodities typically sold in US dollars
  • Oil ticked up this morning as Venezuela reported that non-OPEC producers were close to a deal to limit output
  • Clashes in Libya also raised concerns that efforts to restart crude exports of might be delayed
  • Natural gas prices rose to over $2.90 MMBtu NYMEX last week as stocks grew at lower than expected rates but forecasts for milder temperatures may soon offset last weeks gains

 

 

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