Today markets continue rising as the market grapples with the implications of the oil tanker attack in the Gulf of Oman. Crude picked up just over a dollar yesterday on geopolitical concerns. WTI Crude is trading at $52.74 currently, up an additional 46 cents. Fuel prices received a similar lift yesterday. Diesel is trading at […]
My last editorial, dated May 17th, was either about tea leaves or the market needing to take a breather. Either way, since that date the crack spread declined $2.5/bbl, WTI declined over $10/bbl and ULSD futures tumbled $.30/gal. In that article, I highlighted the fact that refinery utilization was seasonally behind due to turnarounds. Throughput […]
Markets are still uncertain of where to go following last week’s geopolitical drama, both in the Middle East and between the US and China. Crude this afternoon is trading at $62.73, hardly changed from Friday’s close. Fuel prices are more bearish than crude, with both gasoline and diesel prices printing lower. Hefty crack spreads (the […]
Natural Gas News – May 20, 2019 FERC approves Freeport liquid natural gas export expansion project Daily Energy Insider reported: The Federal Energy Regulatory Commission (FERC) recently approved the construction of the Train 4 expansion at the Freeport LNG terminal on Quintana Island near Freeport, Texas. The Train 4 project is an expansion of the […]
Natural Gas News – May 10, 2019 U.S. oil settles lower as hopes for a U.S.-China trade deal fade Market Watch reported: U.S. crude-oil prices declined Thursday, while global benchmark prices ended a few pennies higher, with escalation in the Sino- American trade spat raising the potential to dent energy demand. Those concerns have more […]
Yesterday’s market slowed its descent, though still ending in the red. Crude oil this morning is trading flat, up just 8 cents at $61.78. Unlike crude, fuel prices are trading a bit higher this morning. Diesel prices are $2.0546, up 1.1 cents. Gasoline prices are pushing against the $2/gal level again, trading up 1.7 cents […]
Prices rose roughly 1% yesterday following constructive data from the EIA. This afternoon, however, prices are heading lower once more, burdened by US-China trade consternation. Crude oil is currently trading at $61.64, down 48 cents. Fuel prices are also printing in the red this afternoon. Diesel prices are trading at $2.0428, a loss of 1.3 […]
Yesterday’s losses are spilling over to today, responding to the hefty crude oil build and the surprise gasoline build. Crude oil is trading at $62.40, a loss of $1.20. Fuel is following crude lower this morning with diesel trading at $2.0766, down 1.8 cents. Gasoline is trading at $2.0338, a loss of 3 cents. The […]
Despite possible Avengers strikes on Nigerian oil pipelines and Druzbha Pipeline contamination, oil prices are trading steady to lower today. WTI crude is currently trading at $65.78, down a few cents from yesterday’s close. Fuel prices, on the other hand, are trading slightly higher this afternoon. Diesel prices are currently $2.1024, up 0.4 cents. Gasoline […]
Natural Gas News – April 12, 2019 Oil Companies Will Pay You To Take Natural Gas From West Texas KUT reported: Natural gas is a valuable commodity in most of the world – but not in parts of Texas. Now, in West Texas, oil well operators will pay you to take their natural gas. The […]
