Refineries Slash Throughput, G20 Commits to Global Stimulus

With America now taking the lead on number of coronavirus cases globally, fuel demand prospects for the coming weeks seems weaker than ever. Amid social distancing efforts, fuel demand is low enough now to evoke a response from refineries. India’s leading refiner has cut throughput by 25%-30%, and East Asian countries are following suit. From […]

Crude Rises 25% as US Considers Oil Support

Crude oil prices closed with 25% gains yesterday – which under normal circumstances would have caused mixed jubilance and panic for traders and unequivocal terror for fuel buyers. But the $5 pick-up from Wednesday’s $20 close hardly seems a cause of concern.  Oil prices remain at incredibly low levels. US policymakers are reportedly making plans […]

Fed Announces Emergency Rate Cut to Near-0%

Markets are continuing to take a beating this morning, following an emergency Federal Reserve interest rate cut over the weekend which sent a new wave of jitters to investors. Having already cut rates by 0.5% two weeks ago, the Fed this weekend slashed rates by another 1%, bringing them to essentially zero. The cut represents […]

Markets Turn Higher, But Long Recovery Road Ahead

After a week of panic selling and market struggles, both equities and commodities are beginning to find their footing, providing a reprieve (however brief) from the bear market. Of course, it’s hard to determine how much of today’s rally is short covering versus a slow return to normalcy. While equities have been spooked by coronavirus […]

Oil Price War Begins

The oil price wars have begun. Prices are down by the largest amount since the 1991 Gulf War, and agencies are racing to reconsider their price forecasts for the year. The stock market halted trading immediately after reopening due to massive losses. What’s going on? On Friday, Russia fired the first shot of the war. […]

Russia Rejects Deeper OPEC Cuts

Oil prices are tumbling once again to multi-year lows this morning on news that Russia has spurned OPEC’s recommendation to cut production by an additional 1.5 MMbpd through Q2 2020. The agreed deal would be split, with 1 MMbpd coming from OPEC and the remaining 500 kbpd coming from non-OPEC producers like Russia. The group […]

Oil Demand May Fall This Year – That’s Not Normal

After a few attempts at a rally yesterday, crude prices ended the day lower, though fuel prices managed to eke out some moderate gains. Despite a relatively bullish EIA report, markets were unable to overcome the sluggish economic outlook. Banks have taken a pessimistic view of prices and oil fundamentals, with Goldman Sachs now forecasting […]

As Virus Spreads, Saudis Consider Steep Cuts

Oil markets are continuing their steep drop, in a sell-off reminiscent of the price crashes seen in 2015-16 and, before that, in 2009. Crude oil and diesel prices have shed nearly 30% of their value since the beginning of the year, while gasoline losses are around 22%. Crude prices are at their lowest level in […]

Russia Spurns Cuts despite China Economy Struggling

Yesterday brought moderate gains for oil prices thanks to a relatively bullish EIA inventory report. Crude inventories showed a 0.4-million barrel build, well below market expectations and API forecasts. Both diesel and gasoline stocks fell on the week, providing some support for prices. Today, oil prices are plummeting following comments from Russia’s Energy Minister Novak […]

Markets Rally on Chinese Stimulus

Markets are continuing their slow recovery, with markets hopeful that economic stimulus in China. The large reported uptick in coronavirus infections is now understood to have come from a change in how Chinese infection data was reported, rather than from an actual increase in cases. The US and China are today rolling back some tariffs […]

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Give Us a Call Today

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Us an Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Mansfield Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote Today

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote