Chinese Fragility Spooks Financial Market

Oil prices dropped significantly yesterday following shockwaves caused by Evergrande, a Chinese real estate behemoth. The company, which owes $300 billion to its partners and earned just $8 billion this year, has seen its stock price fall 85% over the past six months. Some have compared their financial woes to the Lehman Brothers’ collapse in […]

Mansfield Salutes America’s Truck Drivers

Today marks the end of National Truck Driver Appreciation Week, a holiday week started by the American Trucking Association. The purpose of the holiday is to celebrate America’s truck drivers, who work tirelessly to deliver goods and materials across the country. Without truck drivers, the world would not be able to enjoy the modern conveniences […]

Prices Fall as Storm Threats Recede

This morning prices fell slightly as the threat to Gulf oil production started to dial back with the recent downgrade of Category 1 Hurricane Nicholas into a tropical depression. Today crude oil opened at $72.65, while diesel opened at $2.2065, and gasoline at $2.2084. As Nicholas recedes, energy companies have been able to restart their […]

Fuel Up 5 Cents on Weak Supply, Robust Demand

Each month, three major groups – OPEC, the US’s Energy Information Administration (EIA), and the International Energy Agency (IEA) – publish reports including their outlook on global markets. Typically, the market absorbs those reports with a shrug, but this month they’re having a bigger impact on prices. OPEC’s Monthly Oil Market Report increased its forecast […]

Mid-Week Review – September 15, 2021

Oil prices climb after drawdown in U.S. stocks Oil prices climbed $1 on Wednesday after industry data showed a larger-than-expected drawdown in U.S. crude inventories and on expectations demand will rise as vaccination roll-outs widen. Brent oil rose $1.08, or 1.5%, to $74.68 a barrel by 1226 GMT, while U.S. West Texas Intermediate (WTI) crude […]

With Gulf Oil Down, Shale Oil Producers Consider More Output

Oil closed at a 6-week high yesterday amid continued Gulf Coast oil production shut-ins and Hurricane Nicholas, which made landfall last night in Houston as a Category 1 storm. The Colonial Pipeline, which supplies most of the East Coast’s fuel, shut this morning as a precaution due to power outages. Given the vast number of […]

Ida Recovery Continues to Hit Oil Prices While New Threats Linger

This morning crude opened at $70.55, up from Friday’s closing price. Diesel and gasoline followed the same upward trend this morning, with diesel opening at $2.1436 and gasoline at $2.1570. Today’s rise in prices comes after a continued fear of halted output due to Hurricane Ida clouds the market, with many suggesting it will take […]

Storm Alert – Code Red – 9.10.21

Conditions are improving slowly within Mississippi and Louisiana, though much work remains. Five refineries in New Orleans are still offline, though conditions have improved in other markets. While deliveries in southern Louisiana will remain tight for weeks, conditions in surrounding areas are getting a bit better as refineries come online and carriers catch up with […]

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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