Perfect Storm of Panic Buying

History has shown that natural disasters can occur at any time with devastating effects. Recent destruction from both Hurricane Harvey in Texas and Louisiana and Hurricane Irma in Florida caused widespread outages in the Southeast. Not only was fuel supply disrupted, but the entire supply chain across the U.S. felt the impact. Panic buying lay […]

Oil Breaks Higher on Crude Draw

Prices are trading strongly higher this morning following supportive data from the API. Markets have been relatively flat all week, so today’s breakout higher is the first sign of clear market direction. Crude oil is currently trading at $59.37, up $1.54 (2.7%). Fuel prices are also strongly in the black. Diesel is trading at $1.9643, […]

Mid-Week Review

Philadelphia refinery shutdown will change Northeast fuel supply patterns Over the last 15 years, Northeast refining capacity has fallen from a high near 1.7 MMbpd down to just 0.9 MMbpd now that the PES refinery has closed its doors. The East Coast consumes over 1/3 of America’s combined gasoline and diesel supplies, but has very […]

Iran Breaches Nuclear Deal, Enriches Beyond Limit

Coming off a long holiday weekend, crude oil prices are flat to higher as traders await more directional news. Crude oil started off with light gains this morning, and currently WTI prices are trading at $58.04, a 53 cent increase. Fuel prices are mixed, with gasoline taking the larger losses. Diesel prices are trading flat […]

Mid-Week Review

Oil price ‘could easily be $75’ if trade truce boosts demand, expert says The success, or failure, of trade talks between the U.S. and China will be a decisive factor in the oil price outlook this year, despite OPEC’s decision to extend production cuts, oil market expert Amrita Sen told CNBC on Tuesday.  “China (demand […]

OPEC Reveals Long-Term Cut Strategy

Markets are cooling quickly this morning after a wild ride yesterday. Prices soared in yesterday’s early morning trading, but settled more than a dollar below the day’s highs. Today, markets are sinking, unable to garner strength to re-approach $60/bbl. Crude oil is currently trading at $57.50, down $1.59 from Monday’s close. Fuel prices are also […]

G20 Summit Provides Opportunity for Trade Talks

Oil is trading steady to slightly lower this morning as traders turn their attention to the G20 Summit in Osaka. After some early morning losses yesterday, crude rallied to end flat with Wednesday’s close. Today, crude is trading at $59.02, down 41 cents. Fuel prices saw steeper losses yesterday, with diesel down 2 cents and […]

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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