Storm Alert – Code Orange – January 18, 2022

As Winter Storm Izzy begins to wind down in areas of the south, areas of the Northeast are expected to continue getting snowfall for the next few days. Izzy’s snow and ice conditions have disrupted travel since this weekend, with flight delays continuing at northern airports. With road conditions improving, fuel deliveries are slowly beginning, […]

Hostile Conditions in The East Lead to Seven-Year Highs

This morning crude oil prices reached seven-year highs as geological tensions in the Middle East begin to pick up. Yesterday, a drone attack in Abu Dhabi claimed the lives of three people, destroyed three fuel tankers, storage facilities, and injured many more. Yemen’s Houthi movement, a movement closely associated with Iranian dealings, has claimed responsibility […]

Oil Rockets Near Multi-Year Highs, Despite China Oil Release

Oil prices are back on the rise after taking a brief pause yesterday, with WTI crude oil trading within striking distance of $83/bbl. The high-water mark is $84.65, which was the closing price on October 26, 2021. Beyond that price, we’d have to look back to October 2014 for comparably high prices – back when […]

Week in Review – January 14, 2022

This week was stacked with important headlines including what to expect to pay at the gas station in 2022, freezing temperatures in major cities, prices reaching two-month highs, and surging oil prices predicted for 2023 and beyond. According to the U.S. Energy Information Administration (EIA), expect crude oil prices to hover around the $70 mark […]

Could Oil Production Surge Under Biden?

Today conflicting political news is shining a light on oil production under the Biden administration. On one hand, this week the Biden White House reversed Trump-era Arctic Drilling plans, revoking permits released years ago. On the other hand, a report from the Energy Information Administration now forecasts that oil production will rise to an all-time […]

Prices Reach Two-Month High

This morning oil prices are reaching a two-month high as new concerns of how Omicron could severely impact demand are flooding the market. WTI crude oil opened the day at $81.38, diesel at $2.5638, and gasoline $2.3477. Today marks the highest prices that oil have risen since November 11 and the first time that oil […]

Oil Nears $80/bbl – Technical Bounce or Fundamental Rise?

Fuel prices continue rising to new heights, with WTI crude nearing $80/bbl and diesel coming within a few pennies of $2.50 per gallon. The recent gains may feel a bit like the January Effect, which postulates that markets are re-buying positions sold in December for tax reasons. However, there are reasons to believe the rally […]

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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