By Sydney Casey Published On: December 5, 2023Categories: Daily Market News & Insights OPEC’s recent extension of production cuts has no doubt influenced crude oil futures. Also concerning to markets right now is the news of US diesel shippers being rerouted and causing major delays and the challenges faced by the US Strategic Petroleum Reserve (SPR) in maintaining adequate levels amidst fluctuating …

By Sydney CaseyPublished On: November 28, 2023Categories: Daily Market News & Insights OPEC delayed their recently scheduled meeting to this Thursday, which is shaping up to be one of the most impactful in the last decade. There is high anticipation of potential production cuts by the group, and these speculations have caused a domino effect on recent crude futures price …

By Sydney CaseyPublished On: November 7, 2023Categories: Daily Market News & Insights With WTI crude slipping below the $80/bbl mark and RBOB futures plunging under $2.20, the crude oil landscape seems to be shifting. Diesel’s backwardation is showing signs of narrowing, yet the fundamental supply metrics do not seem to align with these price movements. Persisting below a 30-day threshold for the …

By Cassia PazPublished On: September 6, 2023Categories: Daily Market News & Insights, What Is It Wednesday In the grand theater of fuel production, refinery utilization is a critical metric for gauging the pulse of the oil market. But what is it, and why does it matter so much, especially for powerhouse producers like the United States? Today’s What Is It Wednesday article will answer that …

By Sydney CaseyPublished On: August 8, 2023Categories: Daily Market News & Insights Our wallets are feeling the heat this summer. As of last week’s EIA report, the national average price for a gallon of regular unleaded gasoline soared to $3.821, with diesel clocking in at $4.131. These figures are a steep climb from last month, and although they fall short of the …

By Cassia PazPublished On: July 17, 2023Categories: Daily Market News & Insights In a promising turn of events, the U.S. economy is projected to experience a surge in growth, fueled by revised forecasts and various factors shaping the energy landscape. The latest EIA’s Short-Term Energy Outlook (STEO) reveals exciting developments that are set to impact multiple sectors in the coming months. The forecast for …

By Sydney CaseyPublished On: July 11, 2023Categories: Daily Market News & Insights Texas has been grappling with extraordinary high temperatures. Mid-July witnessed a record peak of 103F in the Midland-Odessa region, continuing the trend of unusually warm days. In the preceding four days, the area saw temperatures nearing the 100F mark. As temperatures soared, questions emerged regarding the potential impact on the …

By Cassia Paz Published On: July 3, 2023Categories: Uncategorized As we say goodbye to three pandemic summers, this Independence Day weekend is set to witness a record-breaking number of Americans hitting the road. The reason? People’s desire for freedom, years of waiting to travel, and fuel prices significantly cheaper compared to last year’s prices. Despite surging travel, though, gasoline demand may not …

By Sydney CaseyPublished On: May 23, 2023Categories: Daily Market News & Insights As the global economy embarks on the road to recovery, strong demand for oil products is powering a surge in oil prices. However, looming uncertainties, such as a potential U.S. default and the upcoming OPEC+ meeting, continue to cast shadows on the trajectory of the oil markets. It appears that …

By Sydney CaseyPublished On: May 16, 2023Categories: Daily Market News & Insights Crude futures remain in line with yesterday’s prices, continuing the upward trajectory from yesterday. However, the journey wasn’t a smooth ride; crude prices dipped by over 50 cents earlier in the day when China reported economic figures that fell short of expectations. But the market swiftly rebounded after the International …