Iran Supply, China Demand, and Russian Price Caps – A Bearish Week for Oil

News this week has been solidly bearish, both for oil supply and economic demand. On the oil supply front, Iran submitted their response to the nuclear deal proposal. European negotiators have hinted that a deal is closer than ever, though some issues remain. Although Iran’s position is not public, news outlets have pointed to Iran’s […]

Possible Iran Deal Sends Fuel Prices Tumbling

This morning, oil markets saw prices sharply lower as headlines suggested that the Iran nuclear deal may be close to completion. The EU has been attempting to broker a deal between the US and Iran to allow inspections to resume for Iran’s nuclear facilities and to allow Iranian oil to flow to global markets. The […]

Week in Review – August 12, 2022

Oil prices ticked higher this week as US gasoline demand recovered, with the EIA’s Wednesday market report showing demand climbing above 9 million barrels per day. Moreover, the report showed a steep draw from gasoline inventories, though diesel and crude stocks rose during the same period. Overall, oil fundamentals haven’t changed – there’s still a […]

IEA: 4 Oil Trends to Watch for August

The IEA released their Monthly Oil Report for August, which is packed full of headline-worthy news items. Today’s article will unpack some of the key themes: Bullish: Fuel switching is driving “soaring” oil demand for power. As natural gas prices rise and heat waves drive power consumption, more power companies are considering heating oil for […]

What Is It – Diesel Exhaust Fluid (DEF)

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. Want to suggest a topic? Email the author, Alan Apthorp, at aapthorp@mansfieldoil.com. If diesel is the hero of the transportation fuels world, then […]

EIA: Several Refining Projects Scheduled in Asia and Middle East

There’s been lots of talk among analysts about the lack of refining capacity around the world. In fact, OPEC has asserted that the world isn’t lacking crude oil, but rather the capacity to convert crude oil into usable fuels. While US refining capacity is falling (a topic we covered back in May), global refining capacity […]

Is Gasoline Demand Really Falling?

There’s no question that the economies worldwide face a looming recession. Countries in Europe appear particularly at risk, with severe contractions expected for countries like the UK, Germany, and France. The US has seen GDP fall for two quarters, but a number of indicators point to resilient economic activity. One factor, gasoline demand, has seemingly […]

Week in Review – August 5, 2022

Yesterday, oil prices closed at $88.54, the first time WTI crude has dipped below $90/bbl since two weeks before Russia invaded Ukraine. Diesel is trading at its lowest point since April, while gasoline is at its lowest since late February. Despite the spate of bullish factors on the supply side – a floundering US-Iran nuclear […]

Gasoline Slump, OPEC+ Snub, and Iran Deal – Catch Up on Fuel Markets

The diesel crisis continues even as gasoline markets are slumping. OPEC+ barely moved to increase its output goal, keeping global markets tight. And the US and Iran are heading back to the negotiation table, following the US tightening sanctions. Let’s unpack the day’s news.   Yesterday, the EIA published its weekly report which showed a headline […]

What Is It Wednesday – The NYMEX

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. Want to suggest a topic? Email the author, Alan Apthorp, at aapthorp@mansfieldoil.com.   Fuel markets are constantly in flux, reacting to supply and […]

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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