Heatwave Pushes Local Prices to 7-Year Highs

As a heatwave sweeps across the northern US, temperatures aren’t the only thing heating up. In the Pacific Northwest this week, high temps are affecting refinery outputs, causing reduced supply and escalating prices. Temperatures have catapulted well above 100 degrees Fahrenheit, making it difficult for refiners to remove enough heat to run at maximum capacity. […]

How Will OPEC+ Handle Supply Shortages?

Markets are trading slightly higher this morning as traders await the OPEC+ meeting later this week. OPEC+ has already agreed to phase in 2.1 MMbpd of production over the next few months, but that may not be enough to keep up with recovering demand. OPEC forecasts suggest oil markets will experience a significant supply shortage, […]

Natural Gas News – June 29, 2021

Natural Gas News – June 29, 2021 US nat gas futures up to fresh 29-month high on Northwest heat wave US natural gas futures climbed to a fresh 29-month high on Monday as a heatwave boosted power prices in the Pacific Northwest to all-time highs and on expectations soaring global gas prices will increase US […]

Oil Prices Fall Before OPEC+ Meeting

Today oil prices fell slightly after a previous week in which we saw prices climb to their highest in over two years. Crude opened the day at $73.99, diesel at $2.1480, and gasoline at $2.2625. These price droppings come ahead of the much-anticipated OPEC+ meeting later this week that is sure to stir the talking […]

Week In Review – June 25, 2021

Last weekend, reports of positive steps toward restoring the Iran nuclear deal made headlines. A US-Iran agreement would increase global oil supplies by nearly 2 million barrels per day, alleviating tight supply concerns. Analysts suggest Iran could unleash its full oil productivity in short order, meaning the price impact would be rapid. On Tuesday we […]

US Government Agrees on $1.2 Trillion Infrastructure Bill

Yesterday, President Biden and a group of bipartisan senators agreed on a $1.2 trillion infrastructure package, including $579 billion in new spending.  Biden had previously proposed a larger bill, which included an emphasis on what’s been called “human infrastructure,” including in-home care, child care, and more. The bipartisan bill will cover more traditional infrastructure projects […]

Mansfield Cares Golf Classic Raises $725,000

Mansfield Cares announced today that the 35th Annual Mansfield Cares Golf Classic, which took place June 8-9, 2021 in Greensboro, GA, raised over $725,000 for charitable organizations. The two-day event included golf across three courses, a charity auction, and a VIP concert featuring The Orchestra including original members of Electric Light Orchestra. Mansfield welcomed numerous broadcast and sports celebrities that return year after year to support worthy causes and enjoy the […]

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OPEC+ Meets July 1 to Review Iran, Global Demand Trends

This morning, oil prices dropped, a reaction to prices hitting a new two-year high earlier this week. Today crude opened at $73.28, diesel at $2.1606, and gasoline at $2.2684. Lower prices early this morning are showing investors that higher demand, coupled with slow supply increases by OPEC+, could send prices in a positive direction. The […]

Bullish Bets Rise, Market Weighs Possible OPEC Production Gains

Oil prices fell back yesterday after hitting a new post-pandemic high on Monday. OPEC+ sources hinted at the possibility of increasing supplies in future months to keep up with rising demand. The group has two particularly troublesome dilemmas – the US and Iran. American shale producers are staying on the sidelines for now, but higher […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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