Prices Fall, but Forecasters Say Oil Rally Will Continue

Fuel markets are tumbling this morning thanks to a bearish report from the American Petroleum Institute, which showed US fuel inventories rising more than expected. Crude is down by more than $1.50/bbl this morning, while fuel losses are around 5 cents per gallon. The API published their weekly inventory data this week, which helped temper […]

Mid-Week Review – October 27, 2021

Charts suggest oil prices may peak soon, Cramer says Oil may be near its peak if historical patterns hold true, CNBC’s Jim Cramer said Tuesday. The commodity climbed to new multi-year highs Tuesday amid supply shortages and strong demand. Brent crude futures settled above $86 and U.S. benchmark West Texas Intermediate crude futures settled above $84, each the highest since 2014. […]

Will EVs Replace Fuel Demand? Not by 2050, Says EIA

Earlier in October, the Energy Information Administration (EIA) published a thorough annual report, its International Energy Outlook. This week, the agency highlighted its forecast for convention vs electric light-duty vehicles (LDVs), noting that they expect the world’s conventional light-duty fleet to peak in 2038. The analysis suggests a substantial increase in EVs following 2030, with […]

Natural Gas News – October 26, 2021

Natural Gas News – October 26, 2021 Nat-Gas Surges On Forecasts For Below-Normal U.S. Temps November Nymex natural gas (NGX21) on Monday closed up +0.618 (+11.70%). Nov nat-gas prices on Monday rallied sharply to a 1-week high. Forecasts for below-normal U.S. temperatures the first week of November sparked fund-buying of nat-gas futures on Monday. Also, […]

Can You Trust the Weather? Exploring the NOAA Winter Forecast

Once again, the weather was high among oil market headlines yesterday, though this time the news was more constructive. The National Oceans and Atmospheric Administration (NOAA) is predicting a warmer winter throughout most of the US, with only the Pacific Northwest forecast to experience below-average temperatures. The group is also forecasting a wet winter in […]

Natural Gas News – October 21, 2021

Natural Gas News – October 21, 2021 U.S. natgas futures edge up on cooler midday forecast U.S. natural gas futures edged up almost 2% on Wednesday on midday forecasts calling for cooler weather and higher heating demand over the next two weeks than previously expected. Traders noted that prices fell to a near four-week low […]

Prices Reach Three Year High – But Not for Long

This morning oil made headlines after numbers showed prices reaching a new three-year high of $86. While this high price eventually retreated, it continues the highly volatile oil market trend that consumers have been accustomed to for some time now. This morning crude oil opened that day at $83.58, diesel at $2.5874, and gasoline at […]

Inventory Draw Sends Fuel to Fresh Highs

Fuel markets have once again turned higher thanks to a bullish inventory report from the EIA this morning. Gasoline and diesel prices are once again moving towards multi-year highs, while crude oil has set yet another 7-year high. Along with climbing inflation and economic strength, fuel fundamentals point to an extremely tight supply picture, as […]

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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