What’s Going On with Iran?

Iran may be the next major talking point for oil markets. President Biden is attempting to revive the nuclear deal with Iran, which would including lifting sanctions that are keeping millions of barrels of oil off the market. The Joint Comprehensive Plan of Action (JCPOA), signed in 2015 by former-President Obama, was exited in 2018 […]

It’s Time We Talked…about the Bulls and the Bears

Oil markets are settling back into the “crash and recover” pattern we’ve seen over the past few weeks.  Last Thursday saw WTI crude prices climb $2/bbl higher, then Monday brought a $3/bbl crash. This morning, prices are once again recovering above $60/bbl, recouping half of yesterday’s losses. Fuel prices have seen comparable gyrations; 4-6 cent […]

OPEC+ Agrees to Gradually Increase Supply

On Thursday of last week, OPEC+ met and agreed to reduce their cuts slightly, gradually phasing in roughly 1 MMbpd of production over the next three months. The market initially reacted favorably to the announcement, with crude up nearly $2/bbl late on Thursday. The initial reaction on Thursday stemmed from added certainty that OPEC+ won’t […]

Markets Soften Despite Moderate Crude Draw

FUELSNews will resume on Monday, April 5. The Mansfield Supply & Marketing Team wish you a peaceful Good Friday! Despite a small surprise draw in crude inventories, crude prices ended Wednesday off by nearly a dollar. Fuel prices also shed 2-3 cents. Markets are watching OPEC+ for a decision today about their future production. Most […]

Inventories, Infrastructure, and OPEC – Oh My!

After pulling back moderately yesterday, oil markets are trading steady as they await the EIA’s weekly inventory data, Biden’s new infrastructure plan, and more news regarding OPEC’s future production strategy. So far, OPEC members seem aligned on maintaining their current strategy. A month ago, the group was scorned for maintaining cuts in the face of […]

Suez Canal Reopens – But Recovery Could Take Weeks

There’s been some good breaking news from the Suez Canal, with diggers finally getting the ship afloat. A swelling tide on Monday morning helped make the ship’s stern (rear) slightly maneuverable, and continued efforts enabled them to dislodge the bow (front) this morning. The backlog of shipping vessels numbers in the hundreds, including 35 crude […]

Week In Review – March 26, 2021

This week is one to remember – oil prices have seen $2/bbl price moves nearly every day this week! Just look at diesel markets which crashed 8 cents lower on Tuesday, gained all of that back on Wednesday, then lost another 8 cents on Thursday. And today, it’s almost back where it started! Your neck […]

More Volatility from Suez Canal, OPEC Meeting, and COVID

Oil price volatility continues this week, with huge up-and-down movements for oil prices each day. Yesterday, oil prices once again plummeted, approaching Tuesday’s low closing level. Some of the volatility is driven by the Suez Canal blockage. There are ships on both sides trying to pass through, and a surprise tanker delivery (or a decision […]

Why Do European Vaccines Impact Our Fuel Prices?

Yesterday brought yet another wave of selloffs thanks to a bearish API report, which we’ll discuss below. Over the past week, a major factor cited for the downturn has been delays in Europe’s vaccine rollout. With all the news circulating, an astute FUELSNews reader asked yesterday, “Why do vaccinations in Europe have an impact on […]

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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