Despite Bearish Data, Oil Markets Rise

Oil prices are continuing their ascent this morning following yesterday’s lofty 4.3% gains. Prices are at their highest level in weeks, though it’s worth mentioning that WTI crude prices have not deviated from their $50-$60 band since May. Today, crude prices are currently $56.98, up 72 cents from yesterday’s closing price. Fuel prices are up […]

Mid-Week Review

New Report: Can Renewables Replace Oil? The future is not looking bright for oil, according to a new report that claims the commodity would have to be priced at $10-$20 a barrel to remain competitive as a transport fuel. The new research, from BNP Paribas, says that the economics of renewable energy make it impossible […]

UK Lawmakers to Block No-Deal Brexit

Oil prices have recaptured all of yesterday’s losses, likely driven by positive news from the UK regarding Brexit. With inventory data delayed due to the holidays, markets are awaiting this afternoon’s API report to validate the fundamental direction of the market. This morning crude oil is trading at $55.41, up $1.47 (+2.7%). Fuel prices are […]

Hurricane Dorian Fuel Supply Update 9-3-2019

Hurricane Dorian made landfall yesterday over the Bahamas as a Category 5, the strongest storm to ever hit the islands. Five deaths have been reported so far, along with power outages and severe devastation to homes and buildings. As the storm continues its trek, forecasts show a turn northward, with the eye of the storm […]

Tariffs and Dorian Weigh on Oil Prices

After a strong drop in oil prices last Friday, the oil complex remains weak following the long holiday weekend. With Dorian’s track now well away from any Gulf Coast oil wells, there seems to be little risk of a production shut-in. Crude oil this morning is trading at $53.29, down a hefty $1.81 (-3.3%) from […]

Quiet Trading ahead of Holiday

FUELSNews will resume publication on Tuesday, September 3. Happy Labor Day! Oil prices are trading lower this morning after steady gains this week. There’s little news influencing global oil prices ahead of the holiday weekend, though in the US markets are closely watching Hurricane Dorian for demand-dampening impacts and any potential shift towards Gulf of […]

Dorian to Hit Florida, Prices Flat Despite Bullish Data

The EIA’s data released yesterday morning lifted oil prices from its slump earlier this week. In fact, the whole oil complex received a solid boost from the report. Crude oil is trading at $56.16 this morning, up 38 cents. Fuel prices moved higher in their own rights, up 3.5 cents and 4.2 cents for diesel […]

Farmers’ Almanac Calls for “Polar Coaster”

Oil prices have been boosted once again by substantial draws from US crude inventories. The API’s data yesterday afternoon shattered the flat trading of the day, resulting in greater than $1/bbl gains heading into the close. This morning, WTI crude is sustaining that growth, up another $1.37 to trade at $56.30. Fuel prices are also […]

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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