Senate Passes USMCA, EIA Forecasts Rising Prices in H2 2020

This week has been focused heavily on trade, with the US and China signing Phase One of a trade deal on Wednesday and the US Senate passing the US-Mexico-Canada Agreement (USMCA) yesterday. We’ve reported on the USMCA before when the House ratified the agreement, which was expected to be the largest hurdle for the deal. […]

Markets Turn to US-China Trade Deal

Friday saw oil markets continue their descent to lower territory, extending the streak of losses to four trading sessions. If this morning’s trading patterns hold, it looks like that streak might extend to five days. Crude oil is currently trading at $58.51, 53 cents (0.9%) below Friday’s close. Fuel prices are trading slightly lower as […]

Markets De-Escalate, OPEC Production Falls

One week after the announcement of Iranian General Soleimani’s death, oil markets are trading below pre-attack levels.  Crude oil prices are back below $60/bbl, diesel prices are below $2.00, and gasoline is below $1.70. Crude oil is currently trading at $59.05, down 51 cents from yesterday’s close. Fuel prices are mixed this morning, with diesel […]

Platts Warns of Diesel Price Gains Amid IMO 2020

We all heard the hype about IMO 2020, and the projected price increases. When January 1 hit, markets watched the market – only to see a minimal impact. While marine fuel prices are definitely up, the effect has not rippled through the market. At least, not yet. In a recent article, S&P Platts warns that […]

Middle East Instability Rises, Markets Brace for Iran Retaliation

Mere days after the US killed an Iranian General travelling in Iraq, Middle East tensions are already beginning to heat up. On Friday, oil prices soared to $2/bbl gains, and this morning those increases are continuing steadily. Crude oil is currently trading at $63.45, up 40 cents from Friday’s close. Fuel prices are mixed this […]

Oil Hits 8-Month High after US Kills Iranian General

Yesterday, we said that 2020 will have a hard time living up to the geopolitical drama of last year. We may have spoken too soon. Oil prices are soaring higher this morning following a US military strike on Iranian General Qasem Soleimani in Iraq last night. Crude oil prices are up by more than $2/bbl […]

IMO 2020 Hits, Diesel Prices Steady

For all the talk about IMO 2020, markets seem to be adapting quite well to the massive change which affects roughly 4% of the world’s oil demand. The regulation officially went into effect yesterday, requiring that all marine vessels switch from using 3.5% sulfur fuel to 0.5% sulfur fuel. While marine fuel prices have seen […]

Ringing in the New Year

Happy New Year! On this first trading day of the new decade, the market is in line with the pricing of the past few days, slightly above $61 but making little attempt at moving any higher. Currently the crude oil market is trading at $61.07, flat with Tuesday’s closing price. Fuel prices have lately been […]

Report Shows Slowing US Oil Production

In light of the holidays, FUELSNews will resume normal publications on January 2. Happy Holidays and thank you for reading! After hitting multi-month highs last week, the oil rally fizzled out on Friday, with prices falling almost a dollar after gaining roughly $6/bbl since Dec 1. With holidays keeping trading volume low, any major long-term […]

Congress Passes USMCA, Reuters Says Recession Averted

Yesterday brought another round of buying, pushing crude oil to close above $61/bbl. Today, prices are fading slightly, with markets slowing heading into a holiday week. Crude oil prices are currently $60.79, down 39 cents. Unlike crude, fuel prices are slightly higher this morning. Diesel prices are trading at $2.0392, up roughly a penny from […]

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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