Nova Energy Market Insights provides actionable information through the analysis of market trends, pricing models, and industry news. The blog delivers Nova Energy clients a customized perspective into the financial markets that have a direct impact on their business today.

Oil Falls as US Production Rises; Declining Exports Point to Continued Builds

WTI futures have fallen roughly 10% since January 25th as US oil production ramps up. Recent reports out of the EIA show production climbing to 10.251 million bpd from 9.919 million bpd. WTI, [...]

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Inventory Build and US Dollar Strength Entice Crude Oil Bears; Venezuela’s Declining Production Threatens Country’s Stability

Crude Oil & ULSD EIA estimates for commercial crude inventories showed its first build in 11 weeks. Initial analyst estimates expected a build of 100,000 but were surprised with a build of [...]

Crude Oil Makes New Highs as U.S. Inventories Fall for Tenth Straight Week; US Dollar Volatility Skewed Price to the Upside

In a week of political whiplash, the US Dollar stands on uncertain ground as traders grow weary of signals from the White House and Department of the Treasury. The US Dollar has been facing heavy [...]

Refinery Outages Strengthen ULSD Basis in Gulf Coast, Mid Continent Markets; Seasonality Favors Bearish Momentum in ULSD Crack Spread

US available capacity remains suppressed following Winter Storm Inga. Gulf Coast capacity has fallen from 10.8 million to as low as 9.5 million and currently stands at 9.7 million. Marathon, [...]

Speculators Challenge Historic Long Positioning as Global Inventories Fall

Speculative positioning in NYMEX WTI futures is nearing historic levels as net position for Managed Money contracts climbs to 432,650 and the hedge fund ratio jumps to 15.13. Net positioning is [...]

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