Fuel prices rallied this week, contrasting the gloomy economic news reported. Despite GDP contracting 0.9% in the second quarter, fuel prices are ending the week on a high note. Crude is back above $100/bbl – though just barely – and fuel prices are hitting their highest level in weeks. Particularly on the diesel front, prices […]
July 28th 2022 How We Called The Record Hot Summer And Explosion In Nat Gas Prices The last time I submitted an article on Seeking Alpha, natural gas (UNG) prices were under pressure from the shut-down of the FreePort, Texas LNG export facility. They were collapsing to below $6.00 a month or so ago. However, […]
The numbers are in, and GDP fell -0.9% in Q2, marking the second straight quarter of contraction. In Q1, the economy contracted by -1.6%. The typical definition of a recession is two consecutive quarters of negative growth, although there’s a variety of other statistics that play into the official declaration of a recession. Many years […]
Welcome to our continuing FUELSNews series: What Is It Wednesday. Each week, we’ll pick a fuel industry topic to explain, so you can learn more about the market and what drives it. Why do the decisions of one organization create ripples throughout oil markets, causing prices to double or halve over time? Well, when […]
Fuel markets are climbing to their highest levels in a week, undoing losses seen last week. Crude oil is again approaching the $100/bbl threshold, putting fuel prices close to $3.50/gal. Markets expect the Federal Reserve to raise interest rates by 0.75% tomorrow – less than the full 1% increase previously expected but still higher than […]
For the past several months, hefty withdrawals from America’s Strategic Petroleum Reserve have kept the market afloat. In April, President Biden authorized up to 1 million barrels per day (MMbpd) to be withdrawn from the SPR, which has gone towards balancing US and global markets. By June, the SPR fell below 500 million barrels for […]
This week saw a general downward trend, with a variety of bearish headlines keeping markets suppressed. The economy remains the focal point, with Europe, particularly under scrutiny. High energy costs and sanctions have severely harmed European manufacturing and services, slowing growth. In the US, high fuel costs have caused demand to plummet – for the […]
July 21st, 2022 Factbox: Could the U.S. Ship More LNG to Europe? The United States, the world’s top natural gas producer, wants to send more liquefied natural gas (LNG) to Europe to help its allies break their dependence on Russian gas after Moscow invaded Ukraine on Feb. 24. But U.S. exports are limited by the […]
This month, Iran is set to ship 4 million barrels of heavy crude oil to Venezuela, according to a Reuters report. Venezuela has been behind on its oil production, which in June was at its lowest level since October 2020. In June 2022, Venezuelan oil production was at about 727 thousand barrels per day (kbpd) […]
Welcome to our continuing FUELSNews series: What Is It Wednesday. Each week, we’ll pick a fuel industry topic to explain, so you can learn more about the market and what drives it. Imagine working for a company where you have no control over your raw material costs, and little control over your sales prices. […]
