Updates from Northland Energy Trading

  • Market News 5/12/2021
    Petroleum futures looked set to strengthen for a fourth session in the overnight session on Wednesday amid a bullish revision to the global oil demand forecast in the IEA’s monthly report and mostly higher trade in European equities, despite losses in US stock market index futures, strength in the US dollar index, and bearish US crude oil inventory data from the... Read more

  • Energy Report 5/11/2021
    ULSD futures rose 1.2% today in an average-volume inside session (lower high, but a higher low). The technical picture remains mixed, as the MACD and major averages point higher and the ADX has now strengthened to where it indicates the presence of an uptrend - but as the RSI is overbought and slow stochastics look bearish, while... Read more

  • Market News 5/11/2021
    Crude oil and refined products futures were seeing losses of between 0.7% (RBOB) and 1.5% (WTI) as of this writing in the overnight session on Tuesday, amid weakness in equities and concern over the coronavirus situation in India, despite a neutral to supportive monthly oil market report from OPEC and some weakness in the US dollar. Market participants had a quiet day on the economic calendar before them, with just... Read more

  • Market News 5/10/2021
    Petroleum futures continued higher in the overnight session on Monday amid news that major US fuel pipeline operator Colonial Pipeline had to shut pipelines due to a cyberattack, weakness in the US dollar and mostly higher trade in US stock market index futures, despite... Read more

  • Energy Report 5/7/2021
    NYMEX HO futures rose 1.1% today but in an outside session, as we saw both a lower low and a higher high. Slow stochastics, the RSI, the ADX, and candlesticks are all neutral, while the major averages and MACD point higher. We'll stick to the... Read more

  • Market News 5/7/2021
    Petroleum futures lost ground yesterday amid a continued surge in coronavirus cases in India and mixed trade in US equities, despite weakness in the US dollar and strength in European shares. WTI crude fell 92 cents to settle at $64.71/bbl and Brent crude lost 87 cents to close at $68.09/bbl. RBOB futures dropped 3.76 cents, settling at $2.1137/g, and ULSD (HO) futures fell 1.30 cents to $1.9895/g. According to Platts, New York Harbor ULSD... Read more

  • Energy Report 5/5/2021
    ULSD futures gapped higher but fell intraday to still settle 0.2% higher in an upside session ... We saw a new multi-year high of $2.0278 in today’s session, which now becomes... Read more

  • Market News 5/5/2021
    Petroleum futures looked set to strengthen for a third consecutive session in the overnight session on Wednesday amid bullish US crude oil inventory data from the American Petroleum Institute (API) and strength in European equities and in US stock market index futures. Market participants awaited US economic news in the form of... Read more

  • Energy Report 5/4/2021
    Consistent with our directional bias, ULSD futures continued higher, gaining 2.4% and taking out both $1.9695 and $1.9868 resistance in the process. We saw a fresh multi-year high of $2.0012, which becomes nearby resistance - followed by $2.0462. Meanwhile, $1.9695 and then the 9-day ma ($1.9213) become nearby support. Slow stochastics look set to... Read more

  • Market News 5/1/2021
    Crude futures looked set to strengthen for a fifth session in the last six, with gains of over 1.5 percent as of this writing in the overnight session. The gains came amid some strength in European shares but despite more mixed trade US stock market index futures and strength in the US dollar. Market participants looked ahead to... Read more