The Midwest and Northeast are preparing for incoming Winter Storm Nathaniel. The storm is beginning to form along the West Coast, bringing some snow from California to Colorado. By Tuesday afternoon, the storm will shift east of the Great lakes into the New England region, bringing 8”-12” snowfalls. Expect frigid temperatures in some areas by […]
Despite a market run-up this morning that briefly sent fuel prices nearly 2 cents higher per gallon, the market is trading flat/lower this morning. Over the weekend, a few supply issues reared their head. Iraq is set to reduce their output to 3.6 MMbpd to offset above-quota production in 2020, taking their production to a […]
The oil complex is experiencing steep losses this morning as the factors behind the rally seem to be fading. Last year, China’s recovering fuel demand was a primary force pushing prices higher. This year, several Chinese cities are experiencing rising cases, forcing the country to establish new lockdown policies to curb the spread. China was […]
In the first few days of a new political administration, change is expected, and the Biden administration has not disappointed. President Biden has signed executive orders re-entering the US into the Paris Climate Accord, slowing pipelines, reinvigorating vehicle fuel efficiency targets, and issuing a 60-day ban on new drilling permits on federal land. Halting drilling […]
Just a day into the new Biden administration, the President is busily undoing many of Trump’s environmental policies. On his first day, President Biden signed an executive order to re-enter the United States into the Paris Accord, an international climate agreement pledging carbon reductions over the next decade. He also threatened to cancel the Keystone […]
Oil prices are continuing yesterday’s rally, with all eyes looking towards the Inauguration Ceremony in Washington DC. Traders continue hoping for stimulus to lift economic prospects. Treasury Secretary Nominee Janet Yellen, former chair of the Federal Reserve, stated yesterday that Congress should “act big” in its legislation. Yellen argued that low interest rates would keep […]
Saudi’s oil cuts appear prophetic as market risks grow For Saudi Arabia, bad news in the oil market has rarely been such a vindication. Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that — rather than restore halted production as planned — it would slash supplies by a further 1 […]
Coming off a long holiday weekend, oil markets are moving moderately higher. Traders are expecting the in-coming Biden administration to act quickly to pass its proposed $1.9 trillion stimulus bill, which would facilitate faster distribution of a vaccine while putting money in people’s hands to spend immediately. Along with stimulus legislation, Biden is expected to […]
Natural Gas News – January 19, 2021 Proposals to prohibit natural gas bans may threaten cities’ clean energy goals Kansas and Missouri may become the next states to block cities from banning natural gas, with hearings on legislation in both states expected soon. Although natural gas bans at this point are more of a coastal […]
Oil climbed once again to a new high yesterday, settling over $53.50/bbl as the market rally continues. This morning, prices are tumbling lower as traders take in their profits and lockdowns continue to be implemented. Fuel buyers are also beginning to feel some of the pre-COVID price pain, with both diesel and gasoline setting their […]
