Each week, traders eagerly awake 1030am EST on Wednesdays – when the EIA releases its weekly petroleum market report. The data contains details on many useful statistics, including supply, demand, refining trends, and imports/exports. One detail, however, stands out from the rest – how much of each product does the US have in inventory? The […]
Fuel prices have been all over the map this year, trading as low as $2.40 in January and reaching over $5/gal in April. Year-to-date, NYMEX diesel prices have averaged $3.58. Just this week, prices have fallen below $3.30, the lowest level in months. The recent drop in prices looks like a win for consumers – […]
Natural Gas News – November 29, 2022 Why Americans Will Pay Higher Natural Gas Prices This Winter American households that run on natural gas can expect high bills this winter. How high prices go depends on a lot of factors, including whether the war in Ukraine takes a new turn and if the winter is […]
Last week, oil prices rallied briefly ahead of the Thanksgiving holiday, but prices are now trading solidly lower as US traders return to their offices after the long weekend. Diesel is among the biggest losers. Last week, the product was trading at $3.50; now, diesel is trading around $3.20. That’s a 30 cent downward move […]
If you’re new to the fuel-purchasing world, you may be surprised to find out that there are many different ways to buy fuel. The three primary options are buying fuel in bulk for an on-site fuel tank, mobile fueling directly into your equipment, and buying fuel at a retail station. Today, we’ll be exploring this […]
Natural Gas News – November 22, 2022 Global Long-Term LNG Contracts Are Sold Out Until 2026 The global long-term LNG contracts before 2026 are sold out, top importer Japan says, amid heated competition for the fuel as Europe seeks to replace Russian pipeline gas supply. The estimate of sold-out LNG deals emerged from a survey […]
Analysis by Sydney Casey It is no secret that cybersecurity is a rapidly growing concern. A recent report from the U.S. Government Accountability Office (GAO) claimed that the 1,600 offshore drilling facilities responsible for 15% of American crude oil production are at risk for cyberattacks, which could cause “significant and potentially catastrophic damage.” These cyberattacks […]
Fuel prices are trading lower this morning thanks to continued demand fears, even as the US is heading into one of the busiest travel periods of the season. AAA forecasts that 55 million Americans will hit the road this week to visit loved ones, just 2.5% below pre-pandemic travel levels. The majority will travel by […]
Oil prices are down into the $70s for the first time since September as the oil market once again grapples with falling demand and a weak economic outlook. Although we’re drawing closer to the EU embargo on Russian oil, markets are also contending with declining demand. So far, price drops into the $70s have been […]
Natural Gas News – November 17, 2022 Eight Years of Oil and Gas Supply Within Touching Distance of North Sea Britain’s North Sea has over eight billion barrels worth of untapped oil and gas reserves within 45km of existing North Sea infrastructure, a new report from the offshore energy trade body has estimated. Timed just […]
