Here are some early market thoughts from Flashpoint’s Darius Lechtenberger:
“WTI crude oil and refined product prices edged slightly higher in early trading. A Washington Post report suggesting that President Trump plans to release a list of tariffs targeting various countries and industries triggered a sharp drop in the dollar, sparking a rally in crude oil and other commodities. Despite this, industry experts predict that global crude oil markets will likely continue to face sluggish demand growth, which may be outpaced by new supply, particularly from the U.S. and potentially OPEC. However, renewed optimism on the demand side emerged from Saudi Arabia, which raised the price of its flagship Arab Light crude by an impressive $1.50 per barrel above the regional benchmark for February—an increase of 60 cents, far exceeding market expectations. Meanwhile, propane prices remain on an upward trajectory, bolstered by forecasts of favorable cold winter weather expected to persist through the remainder of January..”
