This week, oil prices fell to some of the lowest levels in months. Crude oil slipped down to the low-$70s, and NYMEX gasoline hovers just above $2/gal. Diesel prices are outperforming gasoline still, but even that fuel category has traded well below $3/gal for the week. With the year coming to a close, traders are […]
The U.S. fuel distribution network will soon increase its storage capacity thanks to a new Tennessee terminal. This week a BP and Buckeye partnership opened its fuel terminal in the heart of Tennessee, less than two hours from Memphis and less than an hour from Nashville. The $60 million facility will have the capacity for […]
When it comes to buying fuel, there are two primary ways you can pay for your fuel. You can buy in bulk, lowering costs but paying a larger bill upfront, or you can pay as fuel goes into a vehicle, incurring higher premiums for retail or mobile fueling. What if there was a way to […]
After months of paying premium fuel prices, fuel markets plummeted yesterday to some of the lowest prices of the year. Crude oil is hovering just above $75/bbl, among the lowest prices since January. NYMEX diesel prices closed below $3/gal yesterday for the first time since Russia invaded Ukraine in February. As we noted last week, […]
Analysis by Sydney Casey Today, the Russian crude oil price cap will officially take effect at the agreed-upon $60/barrel. Every two months, the group will meet to reevaluate the price, but the cap must remain at least 5% below the average market rate. In addition, all EU members will have to unanimously agree to the […]
On the heels of a weak holiday trading period, oil prices are trending a bit higher this week, though fuel prices remain suppressed. Crude oil is back above $80/bbl, but diesel remains around $3.25. The mixed results reflect themes in the EIA’s weekly market report, which showed a huge draw from crude oil inventories but […]
In September, FUELSNews covered a possible rail strike that threatened to cost the US economy $2 billion per day while severely hampering the distribution of crude oil, renewable fuels, and DEF. Delays have kicked the can down the road, but now unions are threatening a strike on Dec 9. With so much at stake, Congress […]
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 […]
