Week in Review – December 9, 2022

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 […]

What Is It – Consigned Fuel

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 […]

Fuel Prices Plunge – Lowest Prices since Pre-Invasion

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, […]

Price Volatility Continues, Renewable Focus Brings Added Uncertainty

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 […]

Week in Review – December 2, 2022

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 […]

Off the Rails, Pt 2: What a Rail Strike Means for Fuel Buyers

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 […]

What Is It – Oil Inventories

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 […]

Diesel Down $1/Gal from Oct, Bearish Headlines

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 […]

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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