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 – […]
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 […]
Happy Thanksgiving! The Mansfield Team would like to wish you and yours a safe and happy holiday. FUELSNews will return on Monday, November 28. 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 […]
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 […]
On Tuesday night, markets shuddered in fear as a Russian rocket fell on Polish soil, killing two. As a NATO member, Poland has the right to invoke Article 5, in which an attack on one NATO member is treated as an attack on all members. That would put the US in direct, military conflict with […]
You’ve heard about the PADDs. You’ve even heard about PADD 1 on the East Coast, with all its nuances and complexity. Now, it’s time to learn about PADD 2, a market entirely different from the other PADDs. This is the story of a rising star among fuel producers – one with its own challenges and […]
If you’ve stepped outside lately, you can feel that winter is just around the corner. In nearly every part of the country, temperatures are falling to unseasonably low levels. At points this week, parts of the Northern Plains region will see temperatures below 10° F. Even in the south, markets like Dallas, Memphis, and Atlanta […]
