Three Banks Call for $70/BBL Oil

Although the market is down this morning, there’s a general bullish sentiment surrounding the market. First and foremost, new COVID cases are plummeting thanks to careful health practices and vaccine distribution. Daily new cases are now less than a quarter of their January peak, and daily deaths are beginning to fall as well. The same […]

Winter Storm Alert – Code Green

After a week of winter storms across the country, temperatures and markets are normalizing in most areas. The frigid temperatures early last week impacted fueling infrastructure and caused massive power outages across Texas. Over the weekend, crews made progress clearing more roads allowing fuel carriers in the region to get caught up on backlogged deliveries. Mansfield is moving […]

Warmer Weather & Cooler Diplomacy – Oil Rally Fades

Oil markets are sinking lower today, breaking from the sharp rally experienced over the past few days. Of course, warmer weather in Texas will allow oil production and refining to eventually return to normal. Crude production will resume sooner than refining, which will send crude prices lower and propel crack spreads higher. Gulf Coast refiners […]

Winter Storm Alert – Code Red – February 18, 2021

Gulf Coast and Midwest states continue dealing with the devastating impacts of recent winter weather, with Winter Storm Viola adding ice and snow in the Texas region. That weather pattern is now moving northeast, bringing snowfall into the Ohio Valley region through New England. NOAA estimates that nearly three-quarters of the continental US is covered […]

Gasoline Hits 18-Month High

Oil prices continue climbing as the Texas market suffers from wintery weather and devastating power outages. Crude production outages are now over 4 million barrels per day – roughly 40% of US oil production. Given America’s status as an oil exporter, the outage will have international repercussions. Originally expected to last mere days, analysts now […]

Winter Storm Alert – Code Red – February 17, 2021

Winter weather continues to impact fuel deliveries in the South and Midwest. More ice and snow covered Texas last night, extending outages. States of emergency have been declared in 20 different states due to the snow and ice. The storm has shut down roughly one-third of all US crude production, and several refineries have paused […]

US Oil Falls One-Third amid Winter Storm

Though yesterday saw prices make a slow start, WTI crude moved higher throughout the day to close above $60/bbl for the first time since January 2020. This morning has seen the market flip flop between gains and losses as traders try to make sense of the winter storm plaguing the US. Reportedly one-third of all […]

Mid-Week Review – February 17, 2021

Hang on for wild oil, copper ride in commodity supercycle: Goldman’s Currie The oil market is being swept up in a commodity supercycle, with huge upside risk to a target price of $65/b, according to Jeff Currie, head of commodity research at Goldman Sachs, who added key metals such as copper are already at supercycle […]

Winter Storm Alert – Code Orange – February 16, 2021

Winter Storm Uri is moving to the northeast today, but that doesn’t mean the rest of the country is out of the woods. Wintery weather has struck the Southeast and Midwest, causing icy road conditions and shutting off power. Texas has seen record-low temperatures. Check out today’s FUELSNews article for a full description of the […]

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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