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 …

March 23, 2023 Jason Pohuski The world has witnessed a sharp decline in oil prices despite a China demand boom. Goldman Sachs attributes the recent decline to banking stress, recession fears, and an exodus of investor flows. However, historical data shows that after such scarring events, positioning and prices recover gradually, especially for long-dated prices. Indeed, that’s what we’re seeing this …

March 14, 2023 Sydney Casey In the face of the Silicon Valley Bank failure, fuel prices are a bit lower but have also shown a bit more strength than crude oil. Crude oil is trading near the bottom of its recent trading range, slumping to $73/bbl after two days of losses. Uncertainty about the SVB bank closure, mixed with surprising Alaska …

February 2, 2023 Sydney Casey Have you been considering whether to install a bulk storage tank? You could save time, money, and effort by having a bulk tank on hand. This purchase involves more than simply the fuel tank – you’re investing to leverage greater control of your operations. Bulk fuel tanks are large storage containers that can hold fuel for …

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