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 …
December 6, 2022 Alan Apthorp After months of paying premium fuel prices, fuel markets plummeted yesterday to some of the lowest prices of the year. Crude oil is hovering just above $75/bbl, among the lowest prices since January. NYMEX diesel prices closed below $3/gal yesterday for the first time since Russia invaded Ukraine in February. As we noted last week, the low …
November 8, 2022 Alan Apthorp It’s no secret that diesel supplies in the US are tighter than they normally are. Numerous publications have highlighted the challenges faced by markets, especially on the East Coast of the US and in Europe. Last week, the EIA published a chart showing that the Northeast US is 40%-50% below the five-year low, while Europe is also sharply …
November 3, 2022 Ashley Fisher Analysis by Sydney Casey The oil industry is complex, and it can be hard for the average person to understand how it operates. This is especially true when it comes to understanding the current diesel supply shortage, high prices, and oil company profitability. Michael Mansfield, CEO of Mansfield Energy, voiced these concerns in an interview with …
October 17, 2022 Alan Apthorp Oil markets continue to face volatility, with fuel prices rising even as crude oil sinks a bit lower. Fuel markets are continually facing pressure from falling inventories, with diesel supplies at their lowest seasonal level in 40 years. In addition to domestic pressures, international news is also pushing prices higher. China is making moves this week …
October 14, 2022 Alan Apthorp Earlier this year, supplies along the East Coast became extremely tight, forcing fuel suppliers to go to high alert and wreaking havoc on supply chains. The problem wasn’t a hurricane or a pipeline outage… there simply wasn’t enough supply in the pipeline to cover demand across the East Coast. On one hand, tight supplies in Europe …
