Week in Review – Sept 10, 2021

This week saw major headlines for oil markets as Hurricane Ida efforts continue in much of Louisiana and Mississippi where power is still out for over 300,000 people. With refineries out and COVID-19 cases around the country continuing to increase, oil supply and demand have been clouded and look to remain that way for the […]

Output Still Halted by Hurricane Recovery & Rising COVID Cases

Today prices have been fairly steady, with crude oil opening the day at $69.36, up slightly from yesterday’s closing price of $69.30. Diesel and gasoline followed similar trends with diesel opening the day at $2.1350 and gasoline at $2.1388. These prices come as crude oil output remains offline following Hurricane Ida, accompanied by a demand […]

Storm Alert – Code Red – 9.8.21

Refineries are experiencing varying degrees of success in restarting operations. Five refineries in New Orleans, which cumulatively account for just over 1 million barrels per day, have not yet been able to begin their restart process due to power outages. Elsewhere, refinery repairs and restarts are underway, with refineries generally operating at reduced capacity. Refineries […]

What’s Next for the Fuel Price Rally?

Markets are bouncing back this morning, continuing their recovery from late August’s selloff. Since hitting a low of $62/bbl on August 20, prices have been surging higher. Thus far, though, WTI crude has been unable to close above the $70/bbl threshold, coming as close as $69.99 before Labor Day. Fuel prices have also been on […]

Mid-Week Review – September 8, 2021

Crude Oil Prices Halt Overnight Losses Due To Supply Squeeze With U.S. producers, oil prices rose at their midweek trading sessions, reducing overnight losses. Hurricane Ida hit the Gulf of Mexico nine days ago, leaving operations crippled. After losing 1.4% on Tuesday following the Labor Day holiday, U.S. West Texas Intermediate crude futures are up […]

Storm Alert – Code Red – 9.7.21

After a long holiday weekend, southern Louisiana and Mississippi continue to suffer from outages, including both power and fuel outages. Nearly half a million buildings in Louisiana still lack power, including local refineries and terminals that remain offline. Without local product availability, long-haul deliveries have been the only way to transport fuel into the market. […]

Fuel Sheds 3+ Cents on Lost Unemployment Benefits

Following a long holiday weekend, fuel markets are opening this morning with moderate losses. Repair efforts continue in Louisiana and Mississippi – nearly half a million remain without power, and 84% of offshore crude oil production is offline. For refiners, a bit over half of the 2 million barrels per day taken offline by the […]

Oil Advances on Gulf Production Outages, Jobs Report

Fuel markets showed gains yesterday, with diesel and gasoline prices advancing by 4 and 5 cents, respectively. Both were supported by crude oil gains driven by the OPEC+ announcement and bullish fundamental data in the US. Total petroleum products demand was 22.8 million barrels per day last week, the highest level in 2021 and nearly […]

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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