• Our Companies
The Arnolds Companies

Energy Futures Look Like They’re Stuck

Tuesday, May 21 2019
Market Talk

Energy futures look like they’re stuck roughly half-way between their April highs and May lows, waiting for the next headline about China or Iran before making their next move. The choppy action has wiped out any technical momentum, making any sort of trend appear unlikely until we break out of this range in one direction or another.

Stock markets around the world are pointing higher after it appears the US eased some trade restrictions with Huwawei, allowing time for a trade deal to be negotiated.

Another drone attack was reported in Saudi Arabia, but seems to have been quickly dismissed as part of the long-running war in Yemen, rather than an escalation in violence that was threatening oil infrastructure last week. Speaking of which, with details remaining scarce on either of last week’s attacks that helped energy prices pull back from the brink of a major sell-off, doubts are creeping in about what really is happening, and whether or not Iran is involved.

We’re still 10 days away from the official start of the Atlantic hurricane season but just as we’ve seen in the past several years, we have an early storm as Andrea was named Monday near Bermuda. This subtropical storm is not a threat to the US, but it’s a reminder that it’s time to dust off those Hurricane preparedness plans.

Much closer to home a tornado outbreak is currently taking place across a swath of TX, OK and KS. There are a handful of refineries in the path of those storms, most of which feed the Group 3 market. No word yet on if there are any disruptions, but given the location and relatively small size, it’s unlikely we’ll see an impact on product futures if there is any damage to those plants, while WTI could be influenced if there are any impacts to the Cushing OK storage hub.

CLICK HERE for a PDF of today's charts

TAC - The Arnold CompaniesTACenergyTAC Air

Latest Posts

KTBS 3 Spotlight on TACenergy Leadership COO Fred Sloan - Sharing Thoughts on Changes in the Gas Market
Go Rentals Opens 10 New Locations with Partner, TAC Air
Tac Air's new facility features B17-G model airplane, Military Situation Room
TAC Air B-17G Model Brings Nostalgia and Tears

Archive

Latest Posts

Archive

The Arnold Companies
  • About
  • News & Views
  • Social Media
  • Contact Us
TACenergy
  • Supply
  • Customer Login
  • Apply For Credit
  • Market Talk Updates
  • Contacts
  • Blog
  • Social Media
Find Your Next Great Role With TAC.
Explore Careers
  • Privacy Policy
  • Terms of Use
  • Employee Login
  • Sitemap
TAC - The Arnold Companies © 2022. All Rights Reserved.