Weekly Price Review

Crude prices languished this week, opening lower four days out of five. Price rallies were short-lived and unenthusiastic, with WTI struggling to maintain levels of $48/b, and dipping as low as $47/b. Prices threatened to break through some technical supports that many analysts believe herald a coming crash. Yet prices of $47/b always elicited buying […]

Today’s Market Trend

WTI crude prices are back above $48/b this morning, though prices are trending back down. Yesterday, prices were mainly in the vicinity of $47.50/b, recovering above $48/b as the session went on. WTI prices opened at $48.15/b today, just one penny below yesterday’s opening. Since then, prices have weakened. WTI prices are $48.06/b currently, still […]

Today’s Market Trend

WTI crude prices have dropped down into the $47.50-$48/b range this morning. Yesterday brought a brief rally back above $48.50/b, based largely on news of continued OPEC commitment to production cuts, but prices dropped to close at $47.34/b. After hours buying brought WTI to an opening at $48.16/b today, an increase of $0.23 above yesterday’s […]

U.S. biomass-based diesel imports increase 65%, set new record in 2016

Source: EIA. Principal contributors: Steve Hanson, Sean Hill U.S. imports of biomass-based diesel, which include biodiesel and renewable diesel, increased by 65% in 2016 to reach a record level of 916 million gallons. Increasing Renewable Fuel Standard (RFS) targets and the recently expired biodiesel blender’s tax credit were strong drivers of biomass-based diesel demand in […]

Today’s Market Trend

by Dr. Nancy Yamaguchi WTI crude prices have continued to fall, and they are in the range of $48.00-$48.50/b this morning. WTI opened at $48.45/b today, a major drop of $1.16 below Friday’s opening price. Current prices are $48.30/b, a drop of $0.19 below Friday’s yesterday’s close. Prices have been stable in this range overnight, […]

EIA Gasoline and Diesel Retail Prices Update

by Dr. Nancy Yamaguchi The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended March 13th, 2017. Prices for both fuels declined during the week, though the current crude price decline has not yet been fully reflected in retail prices. For the current week ended March […]

Today’s Market Trend

by Dr. Nancy Yamaguchi WTI crude prices have just crashed below $48/b. Prices remained stable in the $48.00-$48.50/b range through yesterday and overnight. This morning, they weakened to the low end of this range this morning, and they broke through $48/b just at the time of this newsletter. WTI opened at $48.45/b today, identical to […]

Economic Optimism Hits Record High Despite Rise in Gas Prices

by National Association of Consumer Stores Despite rising gasoline prices, three in five (61%) gasoline consumers report feeling optimistic about the state of the economy, according to the latest National Association of Convenience Stores (NACS) Consumer Fuels survey. Consumer optimism is at an all-time high across the four-plus years the national survey has been conducted, […]

Today’s Market Trend

by Dr. Nancy Yamaguchi WTI crude prices have rallied back above $48.50/b this morning. Yesterday, prices slumped well below $48/b, even threatening to crash below the $47/b floor. News of a surprise crude stock draw stopped the descent, and the market closed at $47.72/b. WTI opened at $48.76/b today, up $0.31 from yesterday’s opening. Current […]

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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