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 […]
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. […]
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 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, […]
Oil markets continue setting new highs, with diesel prices heading towards $2.60, a price not seen since October 2014. It’s worth noting that at no time in diesel market history have prices stayed at $2.60 –prices only pass that level on their way to $3/gal or higher prices. Major banks such as Goldman Sachs are […]
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 […]
This week oil headlines saw similar patterns of prices hitting multi-year highs. This came mostly with the fact of tighter supply around the world at a time when critical weather is making its way into the northern hemisphere. Lastly, this week we saw another inventory draw that sent fuel to new highs. Along with prices […]
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 […]
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 […]
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 […]
