Today oil prices fell over $1.50 a barrel as inventory reports show a sharp increase during the week of September 24. This rise in inventory levels and the stronger dollar have clouded the recent supply forecasts predicting deficits in the future. Crude oil opened the day at $74.78, diesel at $2.3180, and gasoline at a […]
Natural Gas News – September 30, 2021 NYMEX Henry Hub gas nears $6 on supply concerns, lingering Ida impact The NYMEX Henry Hub prompt-month natural gas contract continued a four-day rally Sept. 28, nearing heights last seen in February 2014, as a slow restart to Gulf of Mexico gas production following Hurricane Ida compounds supply […]
Fuel markets are trading mostly flat after some upward activity yesterday, which left WTI crude oil above $75/bbl. This EIA posted across-the-board inventory draws, giving markets a bearish sentiment this morning. Crude oil stocks rose by 4.6 million barrels – the first build in two months – while gasoline and diesel each rose by small […]
Here comes $90 oil The V-shaped recovery in the oil patch continues to take even the biggest bulls on Wall Street by surprise. Goldman Sachs ramped up its already optimistic forecast on Sunday, calling for Brent crude to hit $90 a barrel by the end of the year. That’s up from its previous call for […]
Although this newsletter typically focuses exclusively on fuel markets and the trends impacting them, today’s topic will cover an important adjacent field: Diesel Exhaust Fluid. DEF is quite simple, made up of just two ingredients, urea and distilled water. However, the product is a critical commodity: throughout North America, modern fleets cannot run without DEF. […]
Natural Gas News – September 28, 2021 Oil Hits Three-Year High as Natural-Gas Crunch Spills Into Crude Market A shortfall in global energy supplies spilled into crude markets on Tuesday, pushing oil prices to their highest levels in three years. Brent crude oil, the global benchmark, grazed the $80-a-barrel mark in early trading and was […]
This morning crude was trading at a near three-year high as prices continued to rally following the hurricanes in the Gulf of Mexico that disrupted fuel supply this month. Today crude opened up at $74.19, trading as high as $75.56. Diesel opened the morning at $2.2693, and gasoline opened at $2.1874. In the wake of […]
Oil prices are at their highest level since July thanks to supportive inventory data this week. The Federal Reserve announced plans to slowly taper their bond-buying stimulus over the next year, which normally would cause prices to drop. However, given months of forewarning and planning, markets are taking the announcement in stride, even lifting oil […]
This week saw news about what could be the coldest winter many of us have seen in quite some time. Last weekend Goldman Sachs released new information forecasting boosted oil demand this winter season, triggered by an expected colder winter in Europe and Asia. Because of a potential global increase in wholesale power and gas […]
Natural Gas News – September 23, 2021 It’s Going to Be an Expensive Winter for Natural Gas Global supply of natural gas has been at some of its lowest reserves thanks to a year of historic weather events, from freezing, to drought, to hurricanes, and natural gas prices are already surging. With winter still looming, […]
